Vetr downgraded shares of Lam Research (NASDAQ:LRCX) from a strong-buy rating to a buy rating in a research note released on Wednesday morning. They currently have $218.49 price objective on the semiconductor company’s stock.
Several other research firms have also weighed in on LRCX. BidaskClub upgraded shares of Lam Research from a buy rating to a strong-buy rating in a research note on Wednesday, January 10th. Susquehanna Bancshares upgraded shares of Lam Research from a neutral rating to a positive rating and boosted their target price for the company from $200.00 to $250.00 in a research note on Tuesday. DA Davidson reiterated a buy rating and set a $215.00 target price on shares of Lam Research in a research note on Thursday, October 12th. Citigroup boosted their target price on shares of Lam Research from $175.00 to $200.00 and gave the company a neutral rating in a research note on Wednesday, October 18th. Finally, KeyCorp reiterated a buy rating and set a $225.00 target price (up previously from $202.00) on shares of Lam Research in a research note on Wednesday, October 18th. Two analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $220.80.
Shares of Lam Research (NASDAQ:LRCX) traded up $0.37 during trading hours on Wednesday, hitting $205.45. 4,198,408 shares of the company were exchanged, compared to its average volume of 3,000,000. The company has a current ratio of 3.31, a quick ratio of 2.83 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $33,270.00, a price-to-earnings ratio of 18.76, a PEG ratio of 0.87 and a beta of 1.57. Lam Research has a fifty-two week low of $109.33 and a fifty-two week high of $219.70.
Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.19. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.46 billion. Lam Research had a net margin of 22.85% and a return on equity of 30.19%. The business’s revenue was up 51.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.81 earnings per share. analysts forecast that Lam Research will post 14.74 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Wednesday, December 6th were issued a $0.50 dividend. The ex-dividend date was Tuesday, December 5th. This represents a $2.00 annualized dividend and a yield of 0.97%. This is an increase from Lam Research’s previous quarterly dividend of $0.45. Lam Research’s dividend payout ratio is presently 18.26%.
Lam Research announced that its board has authorized a stock repurchase program on Tuesday, November 14th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the semiconductor company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
In related news, insider Martin B. Anstice sold 21,955 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $211.16, for a total value of $4,636,017.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael R. Cannon sold 9,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $212.43, for a total transaction of $1,911,870.00. The disclosure for this sale can be found here. Insiders sold 31,269 shares of company stock valued at $6,615,633 in the last ninety days. Corporate insiders own 0.41% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of LRCX. Janus Henderson Group PLC lifted its holdings in Lam Research by 23,238.8% in the 2nd quarter. Janus Henderson Group PLC now owns 4,742,669 shares of the semiconductor company’s stock valued at $670,756,000 after acquiring an additional 4,722,348 shares during the last quarter. Schroder Investment Management Group lifted its holdings in Lam Research by 3,248.5% in the 3rd quarter. Schroder Investment Management Group now owns 703,625 shares of the semiconductor company’s stock valued at $127,933,000 after acquiring an additional 682,612 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Lam Research by 66.0% in the 3rd quarter. Nordea Investment Management AB now owns 1,575,269 shares of the semiconductor company’s stock valued at $291,488,000 after acquiring an additional 626,034 shares during the last quarter. GQG Partners LLC acquired a new stake in Lam Research in the 2nd quarter valued at about $87,726,000. Finally, Vanguard Group Inc. lifted its holdings in Lam Research by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 16,162,079 shares of the semiconductor company’s stock valued at $2,285,802,000 after acquiring an additional 411,951 shares during the last quarter. 93.45% of the stock is owned by institutional investors.
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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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