Lam Research Corp.’s (LRCX) “Buy” Rating Reaffirmed at Needham & Company LLC
Lam Research Corp. (NASDAQ:LRCX)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a research note issued to investors on Tuesday. They presently have a $105.00 price target on the stock. Needham & Company LLC’s target price would indicate a potential upside of 13.94% from the company’s current price.
A number of other equities research analysts also recently issued reports on the company. Credit Suisse Group AG reissued a “buy” rating and set a $100.00 price target on shares of Lam Research Corp. in a research report on Sunday, August 14th. Royal Bank Of Canada reduced their price target on Lam Research Corp. from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Thursday, July 28th. Cowen and Company raised their target price on Lam Research Corp. from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, July 26th. Zacks Investment Research raised Lam Research Corp. from a “hold” rating to a “buy” rating and set a $104.00 target price on the stock in a report on Friday, July 29th. Finally, Nomura downgraded Lam Research Corp. from a “buy” rating to a “neutral” rating and reduced their target price for the company from $95.00 to $85.00 in a report on Thursday, August 11th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Lam Research Corp. currently has a consensus rating of “Buy” and a consensus target price of $99.21.
Lam Research Corp. (NASDAQ:LRCX) traded down 0.37% during midday trading on Tuesday, reaching $91.81. The company had a trading volume of 575,182 shares. The company has a market capitalization of $14.71 billion, a PE ratio of 17.59 and a beta of 1.31. Lam Research Corp. has a 12-month low of $61.20 and a 12-month high of $95.77. The stock has a 50-day moving average price of $92.25 and a 200 day moving average price 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 (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.64 by $0.16. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.53 billion. Lam Research Corp. had a return on equity of 18.95% and a net margin of 15.53%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.50 earnings per share. Equities analysts forecast that Lam Research Corp. will post $6.99 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 28th. Stockholders of record on Wednesday, September 14th will be paid a $0.30 dividend. The ex-dividend date is Monday, September 12th. This represents a $1.20 annualized dividend and a dividend yield of 1.30%. Lam Research Corp.’s dividend payout ratio is presently 22.99%.
Several hedge funds have recently modified their holdings of the stock. Quadrant Capital Group LLC increased its stake in shares of Lam Research Corp. by 28.6% in the second quarter. Quadrant Capital Group LLC now owns 1,258 shares of the company’s stock valued at $103,000 after buying an additional 280 shares in the last quarter. Mizuho Asset Management Co. Ltd. increased its stake in shares of Lam Research Corp. by 92.9% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,060 shares of the company’s stock valued at $173,000 after buying an additional 992 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Lam Research Corp. during the second quarter valued at approximately $177,000. Johnson Financial Group Inc. increased its stake in shares of Lam Research Corp. by 6,044.7% in the second quarter. Johnson Financial Group Inc. now owns 2,335 shares of the company’s stock valued at $196,000 after buying an additional 2,297 shares in the last quarter. Finally, SSI Investment Management Inc. purchased a new stake in shares of Lam Research Corp. during the second quarter valued at approximately $200,000.
Lam Research Corp. 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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