Lam Research Corp. (LRCX) Receives Overweight Rating from Morgan Stanley
Lam Research Corp. (NASDAQ:LRCX)‘s stock had its “overweight” rating reiterated by stock analysts at Morgan Stanley in a research report issued on Saturday. They currently have a $105.00 target price on the stock. Morgan Stanley’s price target indicates a potential upside of 4.63% from the stock’s current price.
Other analysts have also issued research reports about the company. B. Riley reiterated a “buy” rating and set a $106.00 price objective on shares of Lam Research Corp. in a report on Thursday, July 28th. Royal Bank Of Canada reduced their target price on Lam Research Corp. from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Thursday, July 28th. Nomura lowered Lam Research Corp. from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $95.00 to $85.00 in a research note on Thursday, August 11th. Citigroup Inc. reduced their target price on Lam Research Corp. from $105.00 to $102.00 and set a “buy” rating for the company in a research note on Friday, August 12th. Finally, Stifel Nicolaus raised their target price on Lam Research Corp. from $93.00 to $102.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $100.59.
Lam Research Corp. (NASDAQ:LRCX) opened at 100.35 on Friday. The company has a market cap of $16.08 billion, a price-to-earnings ratio of 19.22 and a beta of 1.47. The stock has a 50 day moving average price of $93.65 and a 200-day moving average price of $85.82. Lam Research Corp. has a 1-year low of $63.10 and a 1-year high of $100.89.
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Lam Research Corp. (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $1.80 EPS 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 analyst estimates of $1.53 billion. During the same quarter in the prior year, the business posted $1.50 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, equities research analysts forecast that Lam Research Corp. will post $7.02 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 28th. Stockholders of record on Wednesday, September 14th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Monday, September 12th. Lam Research Corp.’s dividend payout ratio (DPR) is presently 22.99%.
A number of large investors have recently bought and sold shares of the company. Legal & General Group Plc boosted its stake in Lam Research Corp. by 0.5% in the first quarter. Legal & General Group Plc now owns 689,290 shares of the company’s stock valued at $56,933,000 after buying an additional 3,333 shares during the last quarter. Bank of Montreal Can purchased a new stake in Lam Research Corp. during the second quarter valued at about $30,739,000. Geode Capital Management LLC boosted its stake in Lam Research Corp. by 3.0% in the first quarter. Geode Capital Management LLC now owns 1,345,517 shares of the company’s stock valued at $110,924,000 after buying an additional 39,093 shares during the last quarter. New York State Teachers Retirement System boosted its stake in Lam Research Corp. by 1.3% in the second quarter. New York State Teachers Retirement System now owns 321,182 shares of the company’s stock valued at $26,999,000 after buying an additional 4,166 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its stake in Lam Research Corp. by 116.7% in the first quarter. Panagora Asset Management Inc. now owns 338,934 shares of the company’s stock valued at $27,996,000 after buying an additional 182,531 shares during the last quarter.
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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