Lam Research Corp. (LRCX) Sets New 12-Month High at $90.00
Lam Research Corp. (NASDAQ:LRCX) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $90.00 and last traded at $89.73, with a volume of 847,165 shares changing hands. The stock had previously closed at $89.33.
A number of research analysts have issued reports on the stock. Zacks Investment Research raised shares of Lam Research Corp. from a “sell” rating to a “hold” rating in a research report on Monday. BlueFin Research upgraded shares of Lam Research Corp. to a “positive” rating in a report on Monday. Cowen and Company restated an “outperform” rating and set a $85.00 target price on shares of Lam Research Corp. in a report on Tuesday, July 12th. Needham & Company LLC restated a “buy” rating on shares of Lam Research Corp. in a report on Saturday, June 25th. Finally, Nomura Holdings Inc. boosted their target price on shares of Lam Research Corp. from $85.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, June 23rd. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $92.07.
The company has a market cap of $14.56 billion and a price-to-earnings ratio of 20.30. The stock’s 50-day moving average is $84.34 and its 200-day moving average is $77.54.
Lam Research Corp. (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, April 20th. The company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.10 by $0.08. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.31 billion. The business’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.40 EPS. On average, equities analysts forecast that Lam Research Corp. will post $6.19 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 29th. Stockholders of record on Wednesday, June 8th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, June 6th. This represents a $1.20 annualized dividend and a dividend yield of 1.32%.
Other institutional investors have recently made changes to their positions in the company. Advantus Capital Management Inc raised its position in shares of Lam Research Corp. by 4.2% in the fourth quarter. Advantus Capital Management Inc now owns 15,415 shares of the company’s stock valued at $1,224,000 after buying an additional 617 shares in the last quarter. Carleon Capital Partners LLC purchased a new position in shares of Lam Research Corp. during the fourth quarter valued at approximately $1,230,000. Strategic Global Advisors LLC raised its position in shares of Lam Research Corp. by 1.4% in the fourth quarter. Strategic Global Advisors LLC now owns 21,764 shares of the company’s stock valued at $1,728,000 after buying an additional 290 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Lam Research Corp. during the fourth quarter valued at approximately $1,768,000. Finally, Bailard Inc. purchased a new position in shares of Lam Research Corp. during the fourth quarter valued at approximately $1,945,000.
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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