Lam Research Corp.’s (LRCX) Outperform Rating Reaffirmed at RBC Capital Markets
Lam Research Corp. (NASDAQ:LRCX)‘s stock had its “outperform” rating reiterated by investment analysts at RBC Capital Markets in a note issued to investors on Sunday. They currently have a $105.00 target price on the stock. RBC Capital Markets’ target price points to a potential upside of 4.63% from the stock’s previous close.
LRCX has been the topic of a number of other reports. Royal Bank Of Canada dropped their target price on shares of Lam Research Corp. from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Thursday, July 28th. Credit Suisse Group AG reissued a “buy” rating and issued a $100.00 target price on shares of Lam Research Corp. in a research report on Sunday, August 14th. Citigroup Inc. reissued a “buy” rating and issued a $108.00 target price on shares of Lam Research Corp. in a research report on Thursday. Zacks Investment Research raised shares of Lam Research Corp. from a “hold” rating to a “buy” rating and set a $104.00 target price on the stock in a research report on Friday, July 29th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $105.00 target price on shares of Lam Research Corp. in a research report on Tuesday, September 20th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Lam Research Corp. presently has an average rating of “Buy” and an average price target of $100.59.
Shares of Lam Research Corp. (NASDAQ:LRCX) traded up 0.16% during trading on Friday, hitting $100.35. 5,797,149 shares of the stock were exchanged. Lam Research Corp. has a 12-month low of $63.10 and a 12-month high of $100.89. The stock has a market cap 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 released its earnings results on Wednesday, July 27th. The company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $1.53 billion. During the same period in the previous year, the firm earned $1.50 EPS. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. Equities research analysts anticipate that Lam Research Corp. will post $7.02 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 28th. Stockholders of record on Wednesday, September 14th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Monday, September 12th. Lam Research Corp.’s payout ratio is 22.99%.
Hedge funds have recently modified their holdings of the company. Conning Inc. boosted 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 valued at $319,000 after buying an additional 10 shares during the last quarter. Synovus Financial Corp boosted 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 valued at $253,000 after buying an additional 18 shares during the last quarter. Northwestern Mutual Investment Management Company LLC boosted 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 valued at $512,000 after buying an additional 22 shares during the last quarter. Cleararc Capital Inc. boosted 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 valued at $327,000 after buying an additional 32 shares during the last quarter. Finally, Pacer Advisors Inc. boosted 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 valued at $391,000 after buying an additional 57 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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