Needham & Company LLC Boosts Lam Research Corp. (LRCX) Price Target to $115.00
Lam Research Corp. (NASDAQ:LRCX) had its target price upped by Needham & Company LLC from $105.00 to $115.00 in a research report report published on Thursday morning. They currently have a buy rating on the stock.
Several other analysts have also recently issued reports on the company. Credit Suisse Group AG reiterated a buy rating and set a $100.00 target price on shares of Lam Research Corp. in a research report on Sunday, August 14th. Royal Bank Of Canada dropped their price target 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 increased their price target on Lam Research Corp. from $85.00 to $95.00 and gave the company an outperform rating in a research note on Tuesday, July 26th. Citigroup Inc. reissued a buy rating and set a $108.00 price target on shares of Lam Research Corp. in a research note on Thursday, October 6th. Finally, Zacks Investment Research raised Lam Research Corp. from a hold rating to a buy rating and set a $104.00 price target for the company in a research note on Friday, July 29th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Lam Research Corp. currently has a consensus rating of Buy and an average price target of $100.59.
Lam Research Corp. (NASDAQ:LRCX) opened at 102.15 on Thursday. The stock has a market capitalization of $16.37 billion, a PE ratio of 19.57 and a beta of 1.46. Lam Research Corp. has a 1-year low of $63.10 and a 1-year high of $102.44. The stock’s 50 day moving average price is $93.91 and its 200 day moving average price is $86.08.
Lam Research Corp. (NASDAQ:LRCX) last released its earnings results on Wednesday, July 27th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the 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 analysts’ expectations of $1.53 billion. During the same quarter last year, the business posted $1.50 earnings per share. The firm’s revenue was up 4.4% on a year-over-year basis. On average, equities research analysts predict that Lam Research Corp. will post $7.02 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 28th. Investors of record on Wednesday, September 14th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend was Monday, September 12th. Lam Research Corp.’s dividend payout ratio is currently 22.99%.
Large investors have recently modified their holdings of the company. Blue Rock Advisors LLC acquired a new stake in shares of Lam Research Corp. during the first quarter worth about $217,000. Advisor Partners LLC acquired a new stake in shares of Lam Research Corp. during the first quarter worth about $217,000. Bessemer Group Inc. acquired a new stake in shares of Lam Research Corp. during the first quarter worth about $1,032,000. NN Investment Partners Holdings N.V. acquired a new stake in shares of Lam Research Corp. during the first quarter worth about $1,152,000. Finally, Acrospire Investment Management LLC acquired a new stake in shares of Lam Research Corp. during the first quarter worth about $281,000.
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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