Citigroup Inc. Reaffirms Buy Rating for Lam Research Corp. (LRCX)
LRCX has been the topic of a number of other reports. Royal Bank Of Canada reduced their price objective on shares of Lam Research Corp. from $105.00 to $95.00 and set an outperform rating on the stock in a research note on Thursday, July 28th. 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. Zacks Investment Research upgraded shares of Lam Research Corp. from a hold rating to a buy rating and set a $104.00 price objective on the stock in a research note on Friday, July 29th. Needham & Company LLC reiterated a buy rating and set a $105.00 price objective on shares of Lam Research Corp. in a research note on Tuesday, September 20th. Finally, Stifel Nicolaus increased their price objective on shares of Lam Research Corp. from $93.00 to $102.00 and gave the stock a buy rating in a research note on Thursday, July 28th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The stock has an average rating of Buy and an average price target of $100.59.
Shares of Lam Research Corp. (NASDAQ:LRCX) opened at 102.15 on Thursday. The stock’s 50 day moving average is $93.91 and its 200 day moving average is $86.08. The firm has a market cap of $16.37 billion, a PE ratio of 19.57 and a beta of 1.46. Lam Research Corp. has a 12 month low of $63.10 and a 12 month high of $102.44.
Lam Research Corp. (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, July 27th. The company reported $1.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.16. Lam Research Corp. had a net margin of 15.53% and a return on equity of 18.95%. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the company posted $1.50 earnings per share. Lam Research Corp.’s revenue was up 4.4% compared to the same quarter last year. Analysts forecast that Lam Research Corp. will post $7.02 EPS for the current fiscal year.
The firm also recently disclosed 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 of this dividend was Monday, September 12th. This represents a $1.20 dividend on an annualized basis and a yield of 1.17%. Lam Research Corp.’s dividend payout ratio (DPR) is presently 22.99%.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Quadrant Capital Group LLC raised its position in shares of 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 during the period. Mizuho Asset Management Co. Ltd. increased 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 purchased a new stake in Lam Research Corp. during the second quarter worth $177,000. Johnson Financial Group Inc. increased 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. purchased a new stake in Lam Research Corp. during the second quarter worth $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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