Lam Research Corp. (NASDAQ:LRCX)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a report released on Tuesday. They presently have a $105.00 price objective on the stock. Needham & Company LLC’s price objective indicates a potential upside of 13.94% from the stock’s current price.

Several other equities analysts also recently weighed in on the company. Cowen and Company restated an “outperform” rating and set a $95.00 price target on shares of Lam Research Corp. in a report on Wednesday, August 31st. DA Davidson restated a “buy” rating and set a $110.00 price target on shares of Lam Research Corp. in a report on Monday, August 15th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $100.00 price objective on shares of Lam Research Corp. in a research report on Sunday, August 14th. Susquehanna reaffirmed a “neutral” rating on shares of Lam Research Corp. in a research report on Saturday, August 13th. Finally, RBC Capital Markets reaffirmed an “outperform” rating and set a $105.00 price objective on shares of Lam Research Corp. in a research report on Saturday, August 13th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Lam Research Corp. currently has a consensus rating of “Buy” and a consensus target price of $99.21.

Analyst Recommendations for Lam Research Corp. (NASDAQ:LRCX)

Shares of Lam Research Corp. (NASDAQ:LRCX) traded down 0.05% during midday trading on Tuesday, reaching $92.10. The company had a trading volume of 355,971 shares. Lam Research Corp. has a 12-month low of $61.20 and a 12-month high of $95.77. The firm has a market capitalization of $14.76 billion, a price-to-earnings ratio of 17.64 and a beta of 1.31. The company has a 50 day moving average of $92.25 and a 200 day moving average of $84.15.

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Lam Research Corp. (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.16. Lam Research Corp. had a return on equity of 18.95% and a net margin of 15.53%. The firm earned $1.55 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period last year, the company earned $1.50 earnings per share. The company’s revenue was up 4.4% on a year-over-year basis. Analysts anticipate that Lam Research Corp. will post $6.99 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 28th. Shareholders of record on Wednesday, September 14th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Monday, September 12th. Lam Research Corp.’s payout ratio is 22.99%.

A number of hedge funds have recently added to or reduced their stakes in LRCX. Stifel Financial Corp increased its stake in Lam Research Corp. by 7.1% in the fourth quarter. Stifel Financial Corp now owns 129,944 shares of the company’s stock worth $9,643,000 after buying an additional 8,579 shares during the last quarter. Pioneer Investment Management Inc. purchased a new stake in Lam Research Corp. during the fourth quarter worth about $13,531,000. Norges Bank purchased a new stake in Lam Research Corp. during the fourth quarter worth about $106,842,000. Chevy Chase Trust Holdings Inc. increased its stake in Lam Research Corp. by 2.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 134,071 shares of the company’s stock worth $11,074,000 after buying an additional 3,507 shares during the last quarter. Finally, DnB Asset Management AS purchased a new stake in Lam Research Corp. during the first quarter worth about $1,118,000.

About Lam Research Corp.

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.

5 Day Chart for NASDAQ:LRCX

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