Lam Research Corporation to Issue Quarterly Dividend of $0.45 (LRCX)
Lam Research Corporation (NASDAQ:LRCX) declared a quarterly dividend on Monday, August 7th, RTT News reports. Investors of record on Wednesday, September 13th will be paid a dividend of 0.45 per share by the semiconductor company on Wednesday, October 4th. This represents a $1.80 annualized dividend and a yield of 1.16%.
Lam Research Corporation (NASDAQ LRCX) traded up 3.86% during mid-day trading on Monday, reaching $155.84. The company’s stock had a trading volume of 2,743,602 shares. The firm has a market capitalization of $25.20 billion, a price-to-earnings ratio of 16.87 and a beta of 1.46. Lam Research Corporation has a 52 week low of $88.13 and a 52 week high of $170.00. The company’s 50-day moving average price is $153.65 and its 200 day moving average price is $137.56.
Lam Research Corporation (NASDAQ:LRCX) last posted its earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.02 by $0.09. Lam Research Corporation had a net margin of 21.19% and a return on equity of 26.95%. The firm had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the firm earned $1.80 EPS. The firm’s revenue for the quarter was up 51.6% on a year-over-year basis. On average, equities analysts forecast that Lam Research Corporation will post $12.71 earnings per share for the current fiscal year.
Several equities analysts have commented on LRCX shares. Stifel Nicolaus restated a “buy” rating and issued a $150.00 price target on shares of Lam Research Corporation in a research note on Monday, April 17th. Cowen and Company restated an “outperform” rating and issued a $125.00 price target on shares of Lam Research Corporation in a research note on Monday, April 17th. Royal Bank Of Canada restated an “outperform” rating and issued a $145.00 price target (up previously from $140.00) on shares of Lam Research Corporation in a research note on Tuesday, April 18th. B. Riley restated a “buy” rating and issued a $175.00 price target on shares of Lam Research Corporation in a research note on Wednesday, April 19th. Finally, Morgan Stanley restated an “overweight” rating and issued a $129.00 price target on shares of Lam Research Corporation in a research note on Wednesday, April 19th. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $172.41.
In related news, insider Patrick J. Lord sold 2,770 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $155.35, for a total value of $430,319.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Sarah A. O’dowd sold 10,000 shares of the business’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $150.92, for a total transaction of $1,509,200.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,656 shares of company stock valued at $7,925,366. 0.46% of the stock is owned by corporate insiders.
About Lam Research Corporation
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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