Lam Research Corp. (LRCX) Price Target Raised to $95.00
Lam Research Corp. (NASDAQ:LRCX) had its price target boosted by equities research analysts at Cowen and Company from $85.00 to $95.00 in a research note issued on Tuesday. The brokerage currently has an “outperform” rating on the stock. Cowen and Company’s price target suggests a potential downside of 5.33% from the stock’s current price.
Other equities research analysts have also issued research reports about the stock. B. Riley reissued a “buy” rating and set a $96.00 price objective on shares of Lam Research Corp. in a research note on Tuesday, April 26th. Zacks Investment Research raised shares of Lam Research Corp. from a “hold” rating to a “buy” rating and set a $84.00 target price for the company in a report on Friday, May 6th. Nomura lifted their target price on shares of Lam Research Corp. from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, June 23rd. BlueFin Research raised shares of Lam Research Corp. to a “positive” rating in a report on Monday, July 18th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $95.00 target price on shares of Lam Research Corp. in a report on Thursday, April 21st. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $100.59.
Lam Research Corp. (NASDAQ:LRCX) traded up 0.16% on Tuesday, reaching $100.35. 5,797,149 shares of the company traded hands. Lam Research Corp. has a 1-year low of $63.10 and a 1-year high of $100.89. The stock has a market capitalization of $16.08 billion, a price-to-earnings ratio of 19.22 and a beta of 1.47. The stock’s 50-day moving average is $93.65 and its 200-day moving average is $85.82.
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Lam Research Corp. (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.64 by $0.16. Lam Research Corp. had a net margin of 15.53% and a return on equity of 18.95%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the firm posted $1.50 earnings per share. Lam Research Corp.’s quarterly revenue was up 4.4% on a year-over-year basis. Equities research analysts expect that Lam Research Corp. will post $7.02 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 28th. Shareholders of record on Wednesday, September 14th were given a $0.30 dividend. The ex-dividend date of this dividend was Monday, September 12th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.20%. Lam Research Corp.’s payout ratio is currently 22.99%.
Institutional investors have recently bought and sold shares of the company. Conning Inc. raised its position in Lam Research Corp. by 0.3% in the second quarter. Conning Inc. now owns 3,799 shares of the company’s stock worth $319,000 after buying an additional 10 shares during the last quarter. Synovus Financial Corp raised its position in Lam Research Corp. by 0.6% in the second quarter. Synovus Financial Corp now owns 2,975 shares of the company’s stock worth $253,000 after buying an additional 18 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its position in Lam Research Corp. by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 6,088 shares of the company’s stock worth $512,000 after buying an additional 22 shares during the last quarter. Cleararc Capital Inc. raised its position in Lam Research Corp. by 0.8% in the second quarter. Cleararc Capital Inc. now owns 3,892 shares of the company’s stock worth $327,000 after buying an additional 32 shares during the last quarter. Finally, Pacer Advisors Inc. raised its position in Lam Research Corp. by 1.2% in the second quarter. Pacer Advisors Inc. now owns 4,651 shares of the company’s stock worth $391,000 after buying an additional 57 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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