Lam Research Co. (LRCX) Plans Quarterly Dividend of $0.18
Lam Research (NASDAQ:LRCX) declared a quarterly dividend on Thursday, August 28th, American Banking News.com reports. Stockholders of record on Wednesday, September 10th will be given a dividend of 0.18 per share on Wednesday, October 1st. This represents a $0.72 dividend on an annualized basis and a yield of 1.00%.
A number of research firms have recently commented on LRCX. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Lam Research in a research note on Thursday, July 31st. They now have a $74.00 price target on the stock, up previously from $70.00. On a related note, analysts at Stifel Nicolaus raised their price target on shares of Lam Research from $81.00 to $84.00 in a research note on Thursday, July 31st. They now have a “buy” rating on the stock. Finally, analysts at Susquehanna raised their price target on shares of Lam Research from $56.00 to $60.00 in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $73.11.
Lam Research (NASDAQ:LRCX) traded up 0.84% during mid-day trading on Thursday, hitting $71.87. 931,757 shares of the company’s stock traded hands. Lam Research has a 52-week low of $46.20 and a 52-week high of $72.92. The stock has a 50-day moving average of $70.27 and a 200-day moving average of $61.16. The company has a market cap of $11.668 billion and a price-to-earnings ratio of 19.69.
Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.25 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.23 by $0.02. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the prior year, the company posted $0.80 earnings per share. The company’s quarterly revenue was up 26.6% on a year-over-year basis. On average, analysts predict that Lam Research will post $4.65 earnings per share for the current fiscal year.
Lam Research Corporation (NASDAQ:LRCX), is a supplier of wafer fabrication equipment and services to the worldwide semiconductor industry.
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