Lam Research Corp.’s (LRCX) Outperform Rating Reaffirmed at RBC Capital Markets
Lam Research Corp. (NASDAQ:LRCX)‘s stock had its “outperform” rating reaffirmed by investment analysts at RBC Capital Markets in a research report issued to clients and investors on Sunday. They presently have a $105.00 price target on the stock. RBC Capital Markets’ price objective would indicate a potential upside of 4.63% from the company’s current price.
Several other research firms also recently weighed in on LRCX. Nomura boosted their price target on Lam Research Corp. from $85.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, June 23rd. Zacks Investment Research upgraded Lam Research Corp. from a “sell” rating to a “hold” rating in a research note on Monday, July 18th. Needham & Company LLC upped their target price on Lam Research Corp. from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday. Pacific Crest set a $101.00 target price on Lam Research Corp. and gave the stock a “buy” rating in a research note on Thursday, August 11th. Finally, BlueFin Research upgraded Lam Research Corp. to a “positive” rating in a research note on Monday, July 18th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Lam Research Corp. currently has a consensus rating of “Buy” and an average price target of $100.59.
Lam Research Corp. (NASDAQ:LRCX) traded up 0.16% during trading on Friday, reaching $100.35. The company’s stock had a trading volume of 5,797,149 shares. 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 one year low of $63.10 and a one year high of $100.89. The stock has a 50-day moving average of $93.65 and a 200 day moving average of $85.82.
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Lam Research Corp. (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $1.80 earnings per share for the quarter, beating the Thomson Reuters’ 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 company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.50 EPS. On average, equities research analysts predict that Lam Research Corp. will post $7.02 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 28th. Investors of record on Wednesday, September 14th were given a $0.30 dividend. The ex-dividend date was Monday, September 12th. This represents a $1.20 annualized dividend and a yield of 1.20%. Lam Research Corp.’s payout ratio is 22.99%.
A number of hedge funds and other institutional investors have recently modified their holdings of LRCX. FMR LLC raised its position in shares of Lam Research Corp. by 149.5% in the second quarter. FMR LLC now owns 10,317,149 shares of the company’s stock valued at $867,259,000 after buying an additional 6,182,540 shares during the last quarter. Investec Asset Management LTD acquired a new position in shares of Lam Research Corp. during the first quarter valued at $143,984,000. Wellington Management Group LLP raised its position in shares of Lam Research Corp. by 29.1% in the first quarter. Wellington Management Group LLP now owns 5,025,762 shares of the company’s stock valued at $415,128,000 after buying an additional 1,131,843 shares during the last quarter. BlackRock Investment Management LLC raised its position in shares of Lam Research Corp. by 209.6% in the second quarter. BlackRock Investment Management LLC now owns 1,093,309 shares of the company’s stock valued at $91,904,000 after buying an additional 740,148 shares during the last quarter. Finally, BlackRock Advisors LLC raised its position in shares of Lam Research Corp. by 71.3% in the second quarter. BlackRock Advisors LLC now owns 1,671,546 shares of the company’s stock valued at $140,511,000 after buying an additional 695,595 shares during the last quarter.
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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