Lam Research Corp. (LRCX) Rating Reiterated by Morgan Stanley
Lam Research Corp. (NASDAQ:LRCX)‘s stock had its “overweight” rating reiterated by research analysts at Morgan Stanley in a note issued to investors on Saturday. They currently have a $105.00 price target on the stock. Morgan Stanley’s target price points to a potential upside of 4.63% from the company’s current price.
LRCX has been the subject of several other reports. B. Riley restated a “buy” rating and issued a $106.00 target price on shares of Lam Research Corp. in a research note on Tuesday, August 2nd. DA Davidson restated a “buy” rating and issued a $110.00 target price on shares of Lam Research Corp. in a research note on Monday, August 15th. RBC Capital Markets restated an “outperform” rating and issued a $105.00 target price (up from $95.00) on shares of Lam Research Corp. in a research note on Thursday, July 28th. Needham & Company LLC restated a “buy” rating and issued a $105.00 target price (up from $95.00) on shares of Lam Research Corp. in a research note on Thursday, July 28th. Finally, Pacific Crest raised their target price on Lam Research Corp. from $96.00 to $101.00 and gave the company an “overweight” rating in a research note on Thursday, July 28th. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $100.59.
Shares of Lam Research Corp. (NASDAQ:LRCX) opened at 100.35 on Friday. Lam Research Corp. has a 1-year low of $63.10 and a 1-year high of $100.89. The company has a market cap of $16.08 billion, a price-to-earnings ratio of 19.22 and a beta of 1.47. The firm has a 50-day moving average price of $93.65 and a 200 day moving average price of $85.82.
Lam Research Corp. (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $1.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.64 by $0.16. Lam Research Corp. had a return on equity of 18.95% and a net margin of 15.53%. The firm earned $1.55 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the company posted $1.50 EPS. The business’s quarterly revenue was up 4.4% on a year-over-year basis. On average, analysts predict that Lam Research Corp. will post $7.02 EPS 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 issued a $0.30 dividend. The ex-dividend date was Monday, September 12th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.20%. Lam Research Corp.’s dividend payout ratio (DPR) is presently 22.99%.
Several large investors have recently bought and sold shares of LRCX. Legal & General Group Plc boosted its stake in Lam Research Corp. by 0.5% in the first quarter. Legal & General Group Plc now owns 689,290 shares of the company’s stock worth $56,933,000 after buying an additional 3,333 shares during the period. Bank of Montreal Can bought a new stake in Lam Research Corp. during the second quarter worth approximately $30,739,000. Geode Capital Management LLC boosted its stake in Lam Research Corp. by 3.0% in the first quarter. Geode Capital Management LLC now owns 1,345,517 shares of the company’s stock worth $110,924,000 after buying an additional 39,093 shares during the period. New York State Teachers Retirement System boosted its stake in Lam Research Corp. by 1.3% in the second quarter. New York State Teachers Retirement System now owns 321,182 shares of the company’s stock worth $26,999,000 after buying an additional 4,166 shares during the period. Finally, Panagora Asset Management Inc. boosted its stake in Lam Research Corp. by 116.7% in the first quarter. Panagora Asset Management Inc. now owns 338,934 shares of the company’s stock worth $27,996,000 after buying an additional 182,531 shares during the period.
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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