Lam Research (NASDAQ:LRCX) – Stock analysts at B. Riley issued their Q1 2020 earnings per share (EPS) estimates for shares of Lam Research in a research report issued to clients and investors on Monday, April 16th. B. Riley analyst C. Ellis forecasts that the semiconductor company will post earnings of $4.23 per share for the quarter. B. Riley has a “Buy” rating and a $250.00 price target on the stock. B. Riley also issued estimates for Lam Research’s Q3 2020 earnings at $4.55 EPS.
Several other brokerages have also issued reports on LRCX. BidaskClub raised Lam Research from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 13th. Vetr lowered Lam Research from a “strong-buy” rating to a “buy” rating and set a $240.39 price target for the company. in a research note on Monday, March 12th. FBN Securities assumed coverage on Lam Research in a research note on Thursday, March 15th. They set an “outperform” rating and a $300.00 price target for the company. Bank of America assumed coverage on Lam Research in a research note on Wednesday, March 21st. They set a “buy” rating and a $305.00 price target for the company. Finally, Mizuho assumed coverage on Lam Research in a research note on Tuesday, March 27th. They set a “buy” rating and a $250.00 price target for the company. One research analyst has rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $245.14.
Shares of LRCX stock opened at $203.55 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.47 and a quick ratio of 2.09. Lam Research has a 12-month low of $125.74 and a 12-month high of $234.88. The stock has a market cap of $33,199.94, a price-to-earnings ratio of 14.86, a PEG ratio of 0.69 and a beta of 1.40.
Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $4.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.68 by $0.66. Lam Research had a return on equity of 36.08% and a net margin of 17.60%. The firm had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the previous year, the company posted $2.24 earnings per share. The company’s revenue was up 37.1% compared to the same quarter last year.
A number of large investors have recently made changes to their positions in the stock. San Francisco Sentry Investment Group CA increased its holdings in Lam Research by 12.9% during the 4th quarter. San Francisco Sentry Investment Group CA now owns 2,626 shares of the semiconductor company’s stock valued at $484,000 after purchasing an additional 300 shares during the period. BKD Wealth Advisors LLC increased its holdings in Lam Research by 13.5% during the 4th quarter. BKD Wealth Advisors LLC now owns 2,803 shares of the semiconductor company’s stock valued at $516,000 after purchasing an additional 333 shares during the period. Leavell Investment Management Inc. grew its holdings in shares of Lam Research by 3.9% during the 4th quarter. Leavell Investment Management Inc. now owns 9,350 shares of the semiconductor company’s stock worth $1,721,000 after acquiring an additional 350 shares during the period. ETRADE Capital Management LLC grew its holdings in shares of Lam Research by 6.1% during the 4th quarter. ETRADE Capital Management LLC now owns 6,555 shares of the semiconductor company’s stock worth $1,207,000 after acquiring an additional 374 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Lam Research by 144.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 664 shares of the semiconductor company’s stock worth $122,000 after acquiring an additional 392 shares during the period. Institutional investors own 90.34% of the company’s stock.
In related news, insider Seshasayee Varadarajan sold 25,453 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $215.00, for a total transaction of $5,472,395.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Sarah A. O’dowd sold 10,000 shares of the business’s stock in a transaction dated Thursday, March 22nd. The shares were sold at an average price of $224.28, for a total value of $2,242,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 88,393 shares of company stock worth $19,222,556. 0.41% of the stock is owned by company insiders.
Lam Research declared that its board has authorized a share repurchase program on Tuesday, March 6th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 28th. Stockholders of record on Wednesday, March 7th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date was Tuesday, March 6th. Lam Research’s dividend payout ratio (DPR) is presently 20.04%.
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About Lam Research
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers thin film deposition products, including SABRE electrochemical deposition products for copper damascene manufacturing; ALTUS systems to deposit conformal atomic layer films for tungsten metallization applications; VECTOR plasma-enhanced chemical vapor deposition (CVD) and atomic layer deposition systems to deposit oxides, nitrides, and carbides for hardmasks, multiple patterning films, anti-reflective layers, multi-layer stack films, and diffusion barriers; and Striker atomic layer deposition systems that deliver conformal dielectric films for spacer-based patterning and liner applications in various advanced memory and logic structures.
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