Lam Research (NASDAQ:LRCX) had its target price increased by Credit Suisse Group from $275.00 to $278.00 in a research report sent to investors on Wednesday morning. They currently have an outperform rating on the semiconductor company’s stock.
LRCX has been the subject of several other research reports. BidaskClub upgraded Lam Research from a buy rating to a strong-buy rating in a research note on Tuesday, March 13th. Vetr downgraded 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. JPMorgan Chase reiterated an overweight rating and set a $275.00 price target on shares of Lam Research in a research note on Wednesday. KeyCorp reiterated an overweight rating and set a $261.00 price target (up previously from $225.00) on shares of Lam Research in a research note on Wednesday, January 24th. Finally, Needham & Company LLC reiterated a buy rating and set a $270.00 price target (up previously from $235.00) on shares of Lam Research in a research note on Thursday, January 25th. Two analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $249.69.
Shares of NASDAQ LRCX opened at $191.91 on Wednesday. The company has a current ratio of 2.64, a quick ratio of 2.09 and a debt-to-equity ratio of 0.26. Lam Research has a one year low of $137.55 and a one year high of $234.88. The stock has a market capitalization of $31,272.12, a price-to-earnings ratio of 12.22, a PEG ratio of 0.62 and a beta of 1.41.
Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Tuesday, April 17th. The semiconductor company reported $4.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.38 by $0.41. The company had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.85 billion. Lam Research had a return on equity of 41.25% and a net margin of 18.32%. The firm’s revenue was up 34.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.10 EPS. equities research analysts anticipate that Lam Research will post 17.54 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 28th. Investors of record on Wednesday, March 7th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, March 6th. This represents a $2.00 annualized dividend and a dividend yield of 1.04%. Lam Research’s dividend payout ratio is presently 20.04%.
Lam Research declared that its board has authorized a stock repurchase program on Tuesday, March 6th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the semiconductor company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
In other Lam Research news, insider Richard A. Gottscho sold 16,866 shares of the company’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $210.02, for a total value of $3,542,197.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Timothy Archer sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 17th. The shares were 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. In the last ninety days, insiders sold 93,393 shares of company stock valued at $20,272,556. Insiders own 0.41% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. San Francisco Sentry Investment Group CA raised its holdings in Lam Research by 12.9% in 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 acquiring an additional 300 shares in the last quarter. BKD Wealth Advisors LLC raised its holdings in Lam Research by 13.5% in the 4th quarter. BKD Wealth Advisors LLC now owns 2,803 shares of the semiconductor company’s stock valued at $516,000 after acquiring an additional 333 shares in the last quarter. Leavell Investment Management Inc. raised its holdings in Lam Research by 3.9% in the 4th quarter. Leavell Investment Management Inc. now owns 9,350 shares of the semiconductor company’s stock valued at $1,721,000 after acquiring an additional 350 shares in the last quarter. ETRADE Capital Management LLC raised its holdings in Lam Research by 6.1% in the 4th quarter. ETRADE Capital Management LLC now owns 6,555 shares of the semiconductor company’s stock valued at $1,207,000 after acquiring an additional 374 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Lam Research by 144.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 664 shares of the semiconductor company’s stock valued at $122,000 after acquiring an additional 392 shares in the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.
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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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