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

A number of brokerages have recently weighed in on LRCX. Susquehanna raised their price objective on shares of Lam Research Corp. from $76.00 to $80.00 in a research note on Tuesday, March 29th. Zacks Investment Research raised shares of Lam Research Corp. from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a research note on Friday, May 6th. Needham & Company LLC reissued a “buy” rating on shares of Lam Research Corp. in a research note on Saturday, June 25th. Deutsche Bank AG reissued a “buy” rating on shares of Lam Research Corp. in a research note on Sunday, March 27th. Finally, B. Riley reissued a “buy” rating and set a $96.00 price objective (up from $90.00) on shares of Lam Research Corp. in a research note on Thursday, April 21st. One equities research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $92.07.

The company’s 50-day moving average price is $83.32 and its 200 day moving average price is $77.19. The firm has a market cap of $14.14 billion and a price-to-earnings ratio of 19.72.

Lam Research Corp. (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, April 20th. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.08. The business earned $1.31 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the company posted $1.40 EPS. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. On average, analysts forecast that Lam Research Corp. will post $6.19 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 29th. Stockholders of record on Wednesday, June 8th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date was Monday, June 6th.

Several institutional investors have made changes to their positions in the stock. Systematic Financial Management LP boosted its position in shares of Lam Research Corp. by 142.8% in the fourth quarter. Systematic Financial Management LP now owns 940,318 shares of the company’s stock worth $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 in the last quarter. 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 in the last quarter. 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 in the last quarter. 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 in the last quarter.

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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