Lam Research (NASDAQ:LRCX) had its price objective upped by B. Riley from $270.00 to $285.00 in a research report released on Wednesday morning. B. Riley currently has a buy rating on the semiconductor company’s stock. B. Riley also issued estimates for Lam Research’s Q4 2018 earnings at $5.00 EPS, FY2018 earnings at $17.59 EPS, Q1 2019 earnings at $4.25 EPS, Q2 2019 earnings at $4.42 EPS, Q3 2019 earnings at $4.28 EPS, Q4 2019 earnings at $4.37 EPS, FY2019 earnings at $17.32 EPS, Q1 2020 earnings at $4.23 EPS, Q1 2020 earnings at $4.66 EPS, Q2 2020 earnings at $5.07 EPS, Q2 2020 earnings at $4.43 EPS, Q3 2020 earnings at $4.55 EPS, Q3 2020 earnings at $4.90 EPS, FY2020 earnings at $18.01 EPS and FY2020 earnings at $19.60 EPS.
LRCX has been the topic of a number of other reports. UBS started coverage on Lam Research in a research report on Wednesday, April 4th. They set a neutral rating and a $220.00 target price on the stock. Vetr cut Lam Research from a buy rating to a hold rating and set a $218.49 target price on the stock. in a research report on Tuesday, January 23rd. Zacks Investment Research upgraded Lam Research from a hold rating to a buy rating and set a $234.00 target price on the stock in a research report on Tuesday, January 23rd. Bank of America started coverage on Lam Research in a research report on Wednesday, March 21st. They set a buy rating and a $305.00 target price on the stock. Finally, Nomura restated a buy rating and set a $230.00 target price on shares of Lam Research in a research report on Monday, January 22nd. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. Lam Research presently has an average rating of Buy and a consensus target price of $249.69.
NASDAQ LRCX opened at $191.91 on Wednesday. The stock has a market cap of $31,024.53, a price-to-earnings ratio of 19.23, a P/E/G ratio of 0.61 and a beta of 1.41. Lam Research has a fifty-two week low of $137.55 and a fifty-two week high of $234.88. The company has a quick ratio of 2.09, a current ratio of 2.64 and a debt-to-equity ratio of 0.26.
Lam Research (NASDAQ:LRCX) last posted its earnings results on Tuesday, April 17th. The semiconductor company reported $4.79 EPS for the quarter, beating the Zacks’ consensus estimate of $4.38 by $0.41. Lam Research had a return on equity of 41.25% and a net margin of 18.32%. The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same period last year, the firm earned $3.10 EPS. The company’s quarterly revenue was up 34.3% on a year-over-year basis. analysts forecast that Lam Research will post 17.54 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 28th. Investors of record on Wednesday, March 7th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Tuesday, March 6th. Lam Research’s payout ratio is 20.04%.
Lam Research declared that its Board of Directors has authorized a stock buyback program on Tuesday, March 6th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
In other news, SVP Sarah A. O’dowd sold 1,835 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $212.64, for a total transaction of $390,194.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Timothy Archer sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 17th. The stock was sold at an average price of $210.00, for a total value of $1,050,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,393 shares of company stock worth $20,272,556. Insiders own 0.41% of the company’s stock.
Several institutional investors have recently modified their holdings of LRCX. Northwestern Mutual Wealth Management Co. boosted 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 purchasing an additional 392 shares during the last quarter. Focused Wealth Management Inc acquired a new position in shares of Lam Research during the 4th quarter worth approximately $140,000. First National Trust Co acquired a new position in shares of Lam Research during the 4th quarter worth approximately $201,000. Squar Milner Financial Services LLC acquired a new position in shares of Lam Research during the 4th quarter worth approximately $204,000. Finally, Gilman Hill Asset Management LLC acquired a new position in shares of Lam Research during the 4th quarter worth approximately $207,000. Institutional investors and hedge funds own 90.34% of the company’s stock.
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Lam Research Company Profile
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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