Shares of Lam Research Corp. (NASDAQ:LRCX) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $87.84 and last traded at $87.42, with a volume of 1,021,560 shares. The stock had previously closed at $86.33.

LRCX has been the topic of several recent analyst reports. Susquehanna boosted their price objective on Lam Research Corp. from $76.00 to $80.00 in a report on Tuesday, March 29th. B. Riley restated a “buy” rating and set a $96.00 price objective on shares of Lam Research Corp. in a report on Wednesday, May 18th. Needham & Company LLC restated a “buy” rating and set a $95.00 price objective (up previously from $88.00) on shares of Lam Research Corp. in a report on Monday, April 18th. Zacks Investment Research upgraded Lam Research Corp. from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a report on Monday, April 4th. Finally, Deutsche Bank AG restated a “buy” rating on shares of Lam Research Corp. in a report on Sunday, March 27th. One analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $92.07.

The company has a 50-day moving average price of $82.71 and a 200-day moving average price of $77.02. The stock has a market cap of $13.99 billion and a PE ratio of 19.5105.

Lam Research Corp. (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, April 20th. The company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.08. The firm earned $1.31 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the business earned $1.40 EPS. Lam Research Corp.’s revenue was down 5.7% on a year-over-year basis. Analysts expect that Lam Research Corp. will post $6.19 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 29th. Investors of record on Wednesday, June 8th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.39%. The ex-dividend date was Monday, June 6th.

A number of institutional investors have recently bought and sold shares of the stock. Systematic Financial Management LP boosted its position in Lam Research Corp. by 142.8% in the fourth quarter. Systematic Financial Management LP now owns 940,318 shares of the company’s stock valued at $74,680,000 after buying an additional 552,999 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Lam Research Corp. by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 13,678,637 shares of the company’s stock worth $1,086,358,000 after buying an additional 402,775 shares during the period. Winton Capital Group Ltd boosted its position in shares of Lam Research Corp. by 57.3% in the fourth quarter. Winton Capital Group Ltd now owns 408,297 shares of the company’s stock worth $32,427,000 after buying an additional 148,736 shares during the period. Foresters Investment Management Company Inc. boosted its position in shares of Lam Research Corp. by 115.2% in the fourth quarter. Foresters Investment Management Company Inc. now owns 215,150 shares of the company’s stock worth $17,087,000 after buying an additional 115,150 shares during the period. Finally, State of Wisconsin Investment Board boosted its position in shares of Lam Research Corp. by 139.8% in the fourth quarter. State of Wisconsin Investment Board now owns 151,604 shares of the company’s stock worth $12,040,000 after buying an additional 88,390 shares during the period.

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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