Lam Research Corp. (LRCX) Given a $123.00 Price Target by Citigroup Inc. Analysts
Several other equities research analysts have also weighed in on LRCX. B. Riley restated a buy rating and set a $106.00 price target on shares of Lam Research Corp. in a research report on Tuesday, August 2nd. Nomura lowered Lam Research Corp. from a buy rating to a neutral rating and dropped their price target for the company from $95.00 to $85.00 in a research report on Thursday, August 11th. Pacific Crest set a $101.00 price target on Lam Research Corp. and gave the company a buy rating in a research report on Thursday, August 11th. Bank of America Corp. set a $108.00 price target on Lam Research Corp. and gave the company a buy rating in a research report on Wednesday, August 10th. Finally, RBC Capital Markets restated an outperform rating and set a $105.00 price target on shares of Lam Research Corp. in a research report on Saturday, August 13th. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock has an average rating of Buy and an average price target of $107.24.
Lam Research Corp. (NASDAQ:LRCX) opened at 107.57 on Tuesday. The firm has a 50-day moving average price of $99.65 and a 200-day moving average price of $90.97. Lam Research Corp. has a 52 week low of $63.10 and a 52 week high of $108.04. The company has a market cap of $17.52 billion, a P/E ratio of 21.35 and a beta of 1.49.
Lam Research Corp. (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, October 19th. The company reported $1.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.03. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.63 billion. Lam Research Corp. had a return on equity of 18.43% and a net margin of 15.02%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the company earned $1.82 EPS. Equities research analysts anticipate that Lam Research Corp. will post $8.28 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Wednesday, December 14th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Monday, December 12th. This is a positive change from Lam Research Corp.’s previous quarterly dividend of $0.30. Lam Research Corp.’s payout ratio is currently 23.86%.
In other Lam Research Corp. news, CFO Douglas R. Bettinger sold 9,956 shares of the business’s stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $106.88, for a total transaction of $1,064,097.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Richard A. Gottscho sold 47,540 shares of the business’s stock in a transaction dated Thursday, October 6th. The shares were sold at an average price of $98.85, for a total value of $4,699,329.00. The disclosure for this sale can be found here. Company insiders own 0.46% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in LRCX. MSI Financial Services Inc raised its stake in Lam Research Corp. by 40.2% in the third quarter. MSI Financial Services Inc now owns 1,095 shares of the company’s stock valued at $104,000 after buying an additional 314 shares in the last quarter. New York Life Trust Co. raised its position in Lam Research Corp. by 95.3% in the third quarter. New York Life Trust Co. now owns 1,170 shares of the company’s stock worth $111,000 after buying an additional 571 shares during the period. Quadrant Capital Group LLC raised its position in Lam Research Corp. by 28.6% in the second quarter. Quadrant Capital Group LLC now owns 1,258 shares of the company’s stock worth $103,000 after buying an additional 280 shares during the period. Global X Management Co. LLC raised its position in Lam Research Corp. by 97.4% in the third quarter. Global X Management Co. LLC now owns 1,344 shares of the company’s stock worth $127,000 after buying an additional 663 shares during the period. Finally, TLP Group LLC acquired a new position in Lam Research Corp. during the third quarter worth $132,000.
About Lam Research Corp.
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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