Lam Research Corporation (NASDAQ:LRCX) Plans $0.45 Quarterly Dividend
Lam Research Corporation (NASDAQ:LRCX) declared a quarterly dividend on Monday, August 7th, RTT News reports. Shareholders of record on Wednesday, September 13th will be paid a dividend of 0.45 per share by the semiconductor company on Wednesday, October 4th. This represents a $1.80 annualized dividend and a yield of 1.16%.
Lam Research Corporation (LRCX) opened at 156.0301 on Tuesday. The firm has a market cap of $25.23 billion, a P/E ratio of 16.8864 and a beta of 1.46. The firm’s 50-day moving average price is $153.66 and its 200 day moving average price is $137.56. Lam Research Corporation has a one year low of $88.13 and a one year high of $170.00.
Lam Research Corporation (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.02 by $0.09. The firm had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.31 billion. Lam Research Corporation had a return on equity of 26.95% and a net margin of 21.19%. The business’s quarterly revenue was up 51.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.80 EPS. On average, equities research analysts forecast that Lam Research Corporation will post $12.71 EPS for the current year.
In other Lam Research Corporation news, COO Timothy Archer sold 8,942 shares of the company’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $155.51, for a total value of $1,390,570.42. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Stephen G. Newberry sold 1,500 shares of the company’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $162.75, for a total value of $244,125.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,656 shares of company stock worth $7,925,366. Insiders own 0.46% of the company’s stock.
Several research firms have weighed in on LRCX. KeyCorp reaffirmed an “overweight” rating on shares of Lam Research Corporation in a research report on Thursday, July 27th. Cowen and Company reaffirmed an “outperform” rating and set a $185.00 price target (up previously from $150.00) on shares of Lam Research Corporation in a research report on Thursday, July 27th. Needham & Company LLC boosted their price target on Lam Research Corporation from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, July 27th. B. Riley reaffirmed a “buy” rating and set a $220.00 price target on shares of Lam Research Corporation in a research report on Thursday, July 27th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $215.00 price target (up previously from $189.00) on shares of Lam Research Corporation in a research report on Thursday, July 27th. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $172.41.
Lam Research Corporation 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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