Lam Research Corp. (LRCX) Given “Buy” Rating at Credit Suisse Group AG
Credit Suisse Group AG reaffirmed their buy rating on shares of Lam Research Corp. (NASDAQ:LRCX) in a report published on Thursday morning. The firm currently has a $100.00 price objective on the stock.
Other analysts have also recently issued reports about the stock. Royal Bank Of Canada lowered their target price on shares of 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. B. Riley reiterated a buy rating and issued a $106.00 target price on shares of Lam Research Corp. in a research note on Thursday, July 28th. Citigroup Inc. reiterated a buy rating and issued a $108.00 target price on shares of Lam Research Corp. in a research note on Thursday. JPMorgan Chase & Co. reiterated a buy rating on shares of Lam Research Corp. in a research note on Thursday. Finally, Needham & Company LLC lifted their target price on shares of Lam Research Corp. to $115.00 in a research note on Thursday. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $100.29.
Lam Research Corp. (NASDAQ:LRCX) traded up 0.21% during trading on Thursday, hitting $100.40. 3,467,141 shares of the company’s stock were exchanged. Lam Research Corp. has a 12-month low of $63.10 and a 12-month high of $100.89. The company’s 50-day moving average price is $93.38 and its 200 day moving average price is $85.67. The firm has a market cap of $16.09 billion, a price-to-earnings ratio of 19.23 and a beta of 1.47.
Lam Research Corp. (NASDAQ:LRCX) last released its earnings results on Wednesday, July 27th. The company reported $1.80 EPS 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 net margin of 15.53% and a return on equity of 18.95%. Lam Research Corp.’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period last year, the business earned $1.50 EPS. Equities analysts forecast that Lam Research Corp. will post $7.02 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 28th. Investors of record on Wednesday, September 14th were paid a $0.30 dividend. The ex-dividend date was Monday, September 12th. This represents a $1.20 dividend on an annualized basis and a yield of 1.20%. Lam Research Corp.’s dividend payout ratio is currently 22.99%.
A number of large investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC boosted its stake 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 in the last quarter. Mizuho Asset Management Co. Ltd. boosted its stake in Lam Research Corp. by 92.9% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,060 shares of the company’s stock worth $173,000 after buying an additional 992 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new stake in Lam Research Corp. during the second quarter worth about $177,000. Johnson Financial Group Inc. boosted its stake in Lam Research Corp. by 6,044.7% in the second quarter. Johnson Financial Group Inc. now owns 2,335 shares of the company’s stock worth $196,000 after buying an additional 2,297 shares in the last quarter. Finally, SSI Investment Management Inc. bought a new stake in Lam Research Corp. during the second quarter worth about $200,000.
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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