Lam Research Corporation (NASDAQ:LRCX) had its target price hoisted by Stifel Nicolaus from $215.00 to $235.00 in a research note issued to investors on Wednesday, MarketBeat reports. Stifel Nicolaus currently has a buy rating on the semiconductor company’s stock.
Several other analysts also recently commented on the company. DA Davidson reaffirmed a buy rating on shares of Lam Research Corporation in a research note on Wednesday. B. Riley upped their price objective on Lam Research Corporation from $220.00 to $250.00 and gave the company a buy rating in a research note on Monday, October 16th. Vetr downgraded Lam Research Corporation from a buy rating to a hold rating and set a $196.77 price objective for the company. in a research note on Monday, October 16th. Zacks Investment Research raised Lam Research Corporation from a sell rating to a hold rating and set a $221.00 price objective for the company in a research note on Friday, October 13th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $220.00 price objective (up from $200.00) on shares of Lam Research Corporation in a research note on Friday, October 13th. Five equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $209.32.
Lam Research Corporation (NASDAQ:LRCX) traded up 2.17% during mid-day trading on Wednesday, reaching $205.34. The company had a trading volume of 3,105,205 shares. The firm’s 50 day moving average price is $180.03 and its 200-day moving average price is $158.44. The company has a market capitalization of $33.29 billion, a price-to-earnings ratio of 18.75 and a beta of 1.53. Lam Research Corporation has a 12 month low of $93.69 and a 12 month high of $206.34.
Lam Research Corporation (NASDAQ:LRCX) last posted its quarterly earnings data on Tuesday, October 17th. The semiconductor company reported $3.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.27 by $0.19. The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.46 billion. Lam Research Corporation had a return on equity of 30.19% and a net margin of 22.85%. The firm’s revenue was up 51.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.81 EPS. Equities research analysts anticipate that Lam Research Corporation will post $14.53 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which was paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend was Tuesday, September 12th. Lam Research Corporation’s dividend payout ratio is currently 16.45%.
In related news, Director Stephen G. Newberry sold 750 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $175.00, for a total value of $131,250.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Timothy Archer sold 8,691 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $171.76, for a total value of $1,492,766.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,419 shares of company stock worth $7,167,497. Insiders own 0.41% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in LRCX. Odey Holdings AG grew its holdings in shares of Lam Research Corporation by 9.9% in the 2nd quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock worth $115,000 after acquiring an additional 73 shares during the period. BDO Wealth Advisors LLC acquired a new stake in shares of Lam Research Corporation in the 2nd quarter worth approximately $118,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Lam Research Corporation in the 2nd quarter worth approximately $134,000. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its holdings in shares of Lam Research Corporation by 358.3% in the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,100 shares of the semiconductor company’s stock worth $156,000 after acquiring an additional 860 shares during the period. Finally, Sun Life Financial INC grew its holdings in shares of Lam Research Corporation by 10,672.7% in the 2nd quarter. Sun Life Financial INC now owns 1,185 shares of the semiconductor company’s stock worth $168,000 after acquiring an additional 1,174 shares during the period. Institutional investors and hedge funds own 93.88% of the company’s stock.
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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