Lam Research Corp. (LRCX) Receives “Buy” Rating from Needham & Company LLC
Lam Research Corp. (NASDAQ:LRCX)‘s stock had its “buy” rating restated by Needham & Company LLC in a research report issued to clients and investors on Monday. They currently have a $120.00 price target on the stock, up from their prior price target of $115.00. Needham & Company LLC’s target price would indicate a potential upside of 20.34% from the stock’s current price.
Several other equities analysts also recently commented on LRCX. B. Riley reiterated a “buy” rating and issued a $106.00 target price on shares of Lam Research Corp. in a research report on Tuesday, August 2nd. DA Davidson restated a “buy” rating and set a $110.00 price objective on shares of Lam Research Corp. in a research report on Monday, August 15th. RBC Capital Markets restated an “outperform” rating and set a $105.00 price objective (up from $95.00) on shares of Lam Research Corp. in a research report on Thursday, July 28th. Pacific Crest raised their price objective on Lam Research Corp. from $96.00 to $101.00 and gave the stock an “overweight” rating in a research report on Thursday, July 28th. Finally, Deutsche Bank AG restated a “buy” rating and set a $105.00 price objective (up from $95.00) on shares of Lam Research Corp. in a research report on Thursday, July 28th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $103.69.
Lam Research Corp. (NASDAQ:LRCX) opened at 99.72 on Monday. The company has a market cap of $15.98 billion, a PE ratio of 19.10 and a beta of 1.47. The stock’s 50 day moving average price is $94.97 and its 200 day moving average price is $86.87. 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 posted its earnings results on Wednesday, October 19th. The company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.78 by $0.03. The firm earned $1.63 billion during the quarter, compared to the consensus estimate of $1.63 billion. Lam Research Corp. had a return on equity of 18.95% and a net margin of 15.53%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the company earned $1.82 earnings per share. Equities research analysts anticipate that Lam Research Corp. will post $7.02 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 28th. Shareholders 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 annualized dividend and a dividend yield of 1.20%. Lam Research Corp.’s payout ratio is presently 22.99%.
In other Lam Research Corp. news, insider Richard A. Gottscho sold 47,540 shares of the business’s stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $98.85, for a total value of $4,699,329.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of LRCX. Vanguard Group Inc. boosted its position in shares of Lam Research Corp. by 1.3% in the second quarter. Vanguard Group Inc. now owns 14,385,832 shares of the company’s stock valued at $1,209,274,000 after buying an additional 187,529 shares during the period. FMR LLC boosted its position in Lam Research Corp. by 149.5% in the second quarter. FMR LLC now owns 10,317,149 shares of the company’s stock valued at $867,259,000 after buying an additional 6,182,540 shares during the last quarter. State Street Corp boosted its position in Lam Research Corp. by 0.3% in the second quarter. State Street Corp now owns 6,393,084 shares of the company’s stock valued at $537,391,000 after buying an additional 19,142 shares during the last quarter. Wellington Management Group LLP boosted its position in Lam Research Corp. by 29.1% in the first quarter. Wellington Management Group LLP now owns 5,025,762 shares of the company’s stock valued at $415,128,000 after buying an additional 1,131,843 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its position in Lam Research Corp. by 4.5% in the second quarter. BlackRock Fund Advisors now owns 2,916,817 shares of the company’s stock valued at $245,188,000 after buying an additional 126,883 shares during the last quarter.
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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