Lam Research Corp. (LRCX) Stock Rating Reaffirmed by Morgan Stanley
Lam Research Corp. (NASDAQ:LRCX)‘s stock had its “overweight” rating restated by investment analysts at Morgan Stanley in a report issued on Saturday. They presently have a $105.00 price target on the stock. Morgan Stanley’s price target would indicate a potential upside of 4.63% from the company’s current price.
A number of other equities research analysts also recently weighed in on the company. Credit Suisse Group AG restated 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 lowered 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 price objective on Lam Research Corp. from $85.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, July 26th. Citigroup Inc. reaffirmed a “buy” rating and set a $108.00 price objective on shares of Lam Research Corp. in a research note on Thursday. Finally, Needham & Company LLC raised their price objective on Lam Research Corp. to $115.00 in a research note on Thursday. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Lam Research Corp. currently has a consensus rating of “Buy” and a consensus target price of $100.59.
Lam Research Corp. (NASDAQ:LRCX) opened at 100.35 on Friday. The firm has a market capitalization of $16.08 billion, a P/E ratio of 19.22 and a beta of 1.47. Lam Research Corp. has a 1-year low of $63.10 and a 1-year high of $100.89. The company’s 50-day moving average price is $93.65 and its 200-day moving average price is $85.82.
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Lam Research Corp. (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, July 27th. The company reported $1.80 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the business posted $1.50 earnings per share. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. Equities research analysts expect that Lam Research Corp. will post $7.02 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 28th. Stockholders of record on Wednesday, September 14th were issued a dividend of $0.30 per share. The ex-dividend date was Monday, September 12th. This represents a $1.20 annualized dividend and a dividend yield of 1.20%. Lam Research Corp.’s payout ratio is 22.99%.
Institutional investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC raised its position in 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 during the last quarter. Mizuho Asset Management Co. Ltd. raised its position in 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 during the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in Lam Research Corp. during the second quarter valued at about $177,000. Johnson Financial Group Inc. raised its position in 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 during the last quarter. Finally, SSI Investment Management Inc. acquired a new position in Lam Research Corp. during the second quarter valued at about $200,000.
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.
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