Needham & Company LLC Reiterates Buy Rating for Lam Research Corp. (LRCX)
Lam Research Corp. (NASDAQ:LRCX)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a research note issued on Tuesday. They presently have a $105.00 price objective on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 12.55% from the company’s current price.
Several other equities research analysts have also commented on LRCX. Credit Suisse Group AG reiterated a “buy” rating and set a $100.00 price objective on shares of Lam Research Corp. in a research note on Sunday, August 14th. Royal Bank Of Canada cut their price objective on Lam Research Corp. from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Thursday, July 28th. Cowen and Company boosted their price objective on Lam Research Corp. from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 26th. Zacks Investment Research upgraded Lam Research Corp. from a “hold” rating to a “buy” rating and set a $104.00 price objective for the company in a research note on Friday, July 29th. Finally, Nomura lowered Lam Research Corp. from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $95.00 to $85.00 in a research note on Thursday, August 11th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $99.21.
Shares of Lam Research Corp. (NASDAQ:LRCX) opened at 93.29 on Tuesday. The company’s 50 day moving average price is $92.38 and its 200-day moving average price is $84.34. Lam Research Corp. has a 52 week low of $61.20 and a 52 week high of $95.77. The company has a market capitalization of $14.95 billion, a price-to-earnings ratio of 17.87 and a beta of 1.31.
Lam Research Corp. (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, July 27th. The company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.16. The company earned $1.55 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Lam Research Corp. had a return on equity of 18.95% and a net margin of 15.53%. Lam Research Corp.’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.50 EPS. Analysts anticipate that Lam Research Corp. will post $6.99 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 28th. Shareholders of record on Wednesday, September 14th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Monday, September 12th. Lam Research Corp.’s dividend payout ratio (DPR) is 22.99%.
Several hedge funds have recently made changes to their positions in LRCX. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Lam Research Corp. during the second quarter valued at about $542,000. Kentucky Retirement Systems bought a new stake in shares of Lam Research Corp. during the second quarter valued at about $1,141,000. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of Lam Research Corp. by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 6,088 shares of the company’s stock valued at $512,000 after buying an additional 22 shares during the last quarter. Mason Street Advisors LLC bought a new stake in shares of Lam Research Corp. during the second quarter valued at about $1,807,000. Finally, Harbour Capital Advisors LLC bought a new stake in shares of Lam Research Corp. during the second quarter valued at about $1,017,000.
Lam Research Corp. 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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