Lam Research Co. (NASDAQ:LRCX) – Research analysts at DA Davidson boosted their Q2 2018 earnings per share (EPS) estimates for Lam Research in a report issued on Monday. DA Davidson analyst T. Diffely now anticipates that the semiconductor company will post earnings per share of $3.77 for the quarter, up from their previous estimate of $3.65. DA Davidson has a “Buy” rating and a $235.00 price objective on the stock. DA Davidson also issued estimates for Lam Research’s Q3 2018 earnings at $3.81 EPS, Q4 2018 earnings at $3.68 EPS, FY2018 earnings at $14.70 EPS, Q1 2019 earnings at $3.67 EPS, Q2 2019 earnings at $3.80 EPS, Q3 2019 earnings at $3.71 EPS and FY2019 earnings at $15.20 EPS.

Several other equities analysts have also weighed in on the stock. Deutsche Bank increased their price objective on shares of Lam Research to $230.00 and gave the company a “buy” rating in a research report on Wednesday, November 15th. KeyCorp reissued a “buy” rating and issued a $225.00 price objective on shares of Lam Research in a research report on Sunday, November 19th. Royal Bank of Canada raised their price target on shares of Lam Research from $210.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 15th. B. Riley reaffirmed a “buy” rating and set a $250.00 price target on shares of Lam Research in a research report on Tuesday, November 14th. Finally, Nomura raised shares of Lam Research from a “neutral” rating to a “buy” rating and raised their price target for the stock from $103.01 to $215.00 in a research report on Thursday, December 7th. One analyst has rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $222.98.

Shares of Lam Research (NASDAQ LRCX) traded up $1.66 on Tuesday, hitting $209.19. 2,823,100 shares of the stock traded hands, compared to its average volume of 3,126,678. The company has a market capitalization of $34,380.00, a price-to-earnings ratio of 19.10, a PEG ratio of 0.95 and a beta of 1.57. Lam Research has a 52 week low of $112.21 and a 52 week high of $219.70. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.31 and a quick ratio of 2.83.

Lam Research announced that its board has authorized a share repurchase plan on Tuesday, November 14th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Wednesday, December 6th were issued a $0.50 dividend. This is a positive change from Lam Research’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 0.96%. The ex-dividend date was Tuesday, December 5th. Lam Research’s dividend payout ratio (DPR) is currently 18.26%.

In other Lam Research news, VP Patrick J. Lord sold 264 shares of the firm’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $216.08, for a total value of $57,045.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Martin B. Anstice sold 21,955 shares of the firm’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $211.16, for a total transaction of $4,636,017.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,269 shares of company stock worth $6,615,633. Insiders own 0.41% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in LRCX. ETRADE Capital Management LLC increased its holdings in Lam Research by 0.5% in the 2nd quarter. ETRADE Capital Management LLC now owns 5,833 shares of the semiconductor company’s stock valued at $825,000 after buying an additional 28 shares during the period. MML Investors Services LLC boosted its stake in shares of Lam Research by 84.8% in the 2nd quarter. MML Investors Services LLC now owns 3,514 shares of the semiconductor company’s stock valued at $497,000 after purchasing an additional 1,612 shares in the last quarter. Suntrust Banks Inc. boosted its stake in shares of Lam Research by 4.9% in the 2nd quarter. Suntrust Banks Inc. now owns 6,334 shares of the semiconductor company’s stock valued at $894,000 after purchasing an additional 297 shares in the last quarter. Cibc World Markets Corp boosted its stake in shares of Lam Research by 94.5% in the 2nd quarter. Cibc World Markets Corp now owns 34,768 shares of the semiconductor company’s stock valued at $4,917,000 after purchasing an additional 16,897 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of Lam Research by 54.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 464,339 shares of the semiconductor company’s stock valued at $65,671,000 after purchasing an additional 164,519 shares in the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

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Lam Research 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.

Earnings History and Estimates for Lam Research (NASDAQ:LRCX)

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