Lam Research Corporation (NASDAQ:LRCX) Given Consensus Rating of “Buy” by Analysts
Lam Research Corporation (NASDAQ:LRCX) has earned a consensus recommendation of “Buy” from the twenty-one analysts that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and nineteen have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $155.13.
A number of brokerages have recently issued reports on LRCX. BidaskClub upgraded shares of Lam Research Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Morgan Stanley reiterated an “overweight” rating on shares of Lam Research Corporation in a report on Friday, July 7th. Stifel Nicolaus reiterated a “buy” rating and set a $189.00 price objective (up from $170.00) on shares of Lam Research Corporation in a report on Monday, June 19th. Needham & Company LLC lifted their price objective on shares of Lam Research Corporation from $165.00 to $175.00 and gave the company a “buy” rating in a report on Friday, June 16th. Finally, UBS Group AG reissued a “buy” rating and set a $190.00 price target on shares of Lam Research Corporation in a research report on Tuesday, June 13th.
Shares of Lam Research Corporation (NASDAQ:LRCX) traded up 1.51% during midday trading on Tuesday, reaching $159.35. 1,831,954 shares of the company’s stock traded hands. Lam Research Corporation has a 12 month low of $87.63 and a 12 month high of $167.05. The stock has a market cap of $25.70 billion, a P/E ratio of 20.24 and a beta of 1.45. The stock has a 50 day moving average of $152.90 and a 200-day moving average of $129.51.
Lam Research Corporation (NASDAQ:LRCX) last issued its quarterly earnings data on Tuesday, April 18th. The semiconductor company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.25. The firm had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Lam Research Corporation had a net margin of 19.82% and a return on equity of 23.84%. The business’s revenue was up 63.9% on a year-over-year basis. During the same period last year, the company earned $1.18 earnings per share. On average, equities research analysts forecast that Lam Research Corporation will post $9.88 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 28th. Shareholders of record on Wednesday, June 7th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Monday, June 5th. Lam Research Corporation’s dividend payout ratio is 22.96%.
In other Lam Research Corporation news, SVP Sarah A. O’dowd sold 10,000 shares of Lam Research Corporation stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $150.92, for a total value of $1,509,200.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Stephen G. Newberry sold 750 shares of Lam Research Corporation stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $155.41, for a total transaction of $116,557.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,509 shares of company stock worth $6,453,898. Insiders own 0.46% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. IFP Advisors Inc raised its stake in Lam Research Corporation by 2.7% in the first quarter. IFP Advisors Inc now owns 850 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 22 shares during the period. Stephens Inc. AR raised its stake in Lam Research Corporation by 6.8% in the first quarter. Stephens Inc. AR now owns 849 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 54 shares during the period. Huntington National Bank raised its stake in Lam Research Corporation by 82.1% in the first quarter. Huntington National Bank now owns 1,118 shares of the semiconductor company’s stock valued at $144,000 after buying an additional 504 shares during the period. Quadrant Capital Group LLC raised its stake in Lam Research Corporation by 0.3% in the first quarter. Quadrant Capital Group LLC now owns 1,332 shares of the semiconductor company’s stock valued at $168,000 after buying an additional 4 shares during the period. Finally, Atria Investments LLC acquired a new stake in Lam Research Corporation during the first quarter valued at about $203,000. 99.05% of the stock is currently owned by institutional investors.
Lam Research Corporation 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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