Nomura upgraded shares of Lam Research (NASDAQ:LRCX) from a neutral rating to a buy rating in a research report sent to investors on Thursday morning. The firm currently has $215.00 target price on the semiconductor company’s stock, up from their prior target price of $103.01.
Several other equities research analysts have also issued reports on LRCX. B. Riley reissued a buy rating and issued a $220.00 price target on shares of Lam Research in a report on Thursday, August 10th. Morgan Stanley reissued an overweight rating and issued a $176.00 price target on shares of Lam Research in a report on Monday, August 14th. Credit Suisse Group reissued a buy rating on shares of Lam Research in a report on Tuesday, August 29th. ValuEngine lowered shares of Lam Research from a strong-buy rating to a buy rating in a report on Friday, September 1st. Finally, Needham & Company LLC reissued a buy rating and issued a $200.00 price target on shares of Lam Research in a report on Friday, September 1st. Four research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $212.99.
Lam Research (LRCX) traded down $2.70 during trading hours on Thursday, reaching $186.46. 3,475,781 shares of the company traded hands, compared to its average volume of 2,177,188. The firm has a market cap of $29,835.35, a PE ratio of 15.87, a P/E/G ratio of 0.84 and a beta of 1.57. Lam Research has a 1 year low of $103.01 and a 1 year high of $219.70. The company has a current ratio of 3.31, a quick ratio of 2.83 and a debt-to-equity ratio of 0.24.
Lam Research (NASDAQ:LRCX) last released its earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.27 by $0.19. The firm had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.46 billion. Lam Research had a net margin of 22.85% and a return on equity of 30.19%. The business’s quarterly revenue was up 51.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.81 EPS. research analysts forecast that Lam Research will post 14.74 EPS for the current fiscal year.
Lam Research announced that its board has authorized a stock buyback program on Tuesday, November 14th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Wednesday, December 6th will be issued a $0.50 dividend. This is a positive change from Lam Research’s previous quarterly dividend of $0.45. The ex-dividend date is Tuesday, December 5th. This represents a $2.00 annualized dividend and a dividend yield of 1.07%. Lam Research’s dividend payout ratio is presently 18.28%.
In related news, Director Stephen G. Newberry sold 750 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $170.00, for a total transaction of $127,500.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Patrick J. Lord sold 264 shares of the company’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $216.08, for a total transaction of $57,045.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,688 shares of company stock worth $13,783,130. 0.41% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the business. Vantage Financial Partners Ltd. Inc. acquired a new position in Lam Research during the 2nd quarter valued at about $254,000. Krilogy Financial LLC raised its position in shares of Lam Research by 91.6% in the 3rd quarter. Krilogy Financial LLC now owns 550 shares of the semiconductor company’s stock valued at $102,000 after acquiring an additional 263 shares during the period. Bollard Group LLC acquired a new stake in shares of Lam Research in the 3rd quarter valued at approximately $130,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Lam Research in the 3rd quarter valued at approximately $134,000. Finally, Odey Holdings AG raised its position in shares of Lam Research by 9.9% in the 2nd quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock valued at $115,000 after acquiring an additional 73 shares during the period. Institutional investors own 93.80% of the company’s stock.
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Lam Research Company Profile
Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.
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