Lam Research Co. (NASDAQ:LRCX) declared a quarterly dividend on Thursday, February 8th, RTT News reports. Shareholders of record on Wednesday, March 7th will be given a dividend of 0.50 per share by the semiconductor company on Wednesday, March 28th. This represents a $2.00 dividend on an annualized basis and a yield of 1.23%.
Lam Research (NASDAQ LRCX) traded down $9.40 during mid-day trading on Thursday, hitting $162.23. 4,930,000 shares of the stock were exchanged, compared to its average volume of 3,570,000. The stock has a market capitalization of $26,270.00, a PE ratio of 17.87, a P/E/G ratio of 0.72 and a beta of 1.47. The company has a quick ratio of 2.09, a current ratio of 2.47 and a debt-to-equity ratio of 0.29. Lam Research has a twelve month low of $113.20 and a twelve month high of $219.70.
Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 24th. The semiconductor company reported $4.34 EPS for the quarter, topping analysts’ consensus estimates of $3.68 by $0.66. The business had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.57 billion. Lam Research had a net margin of 17.60% and a return on equity of 36.08%. The company’s quarterly revenue was up 37.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.24 earnings per share. equities research analysts expect that Lam Research will post 16.74 earnings per share for the current year.
Lam Research announced that its board has approved a share repurchase program on Tuesday, November 14th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the semiconductor company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
LRCX has been the subject of a number of research reports. DA Davidson reissued a “buy” rating and set a $215.00 target price on shares of Lam Research in a research note on Thursday, October 12th. Needham & Company LLC reissued a “buy” rating and set a $220.00 target price (up previously from $200.00) on shares of Lam Research in a research note on Friday, October 13th. Zacks Investment Research raised shares of Lam Research from a “sell” rating to a “hold” rating and set a $221.00 target price for the company in a research note on Friday, October 13th. Vetr cut shares of Lam Research from a “buy” rating to a “hold” rating and set a $196.77 target price for the company. in a research note on Monday, October 16th. Finally, B. Riley boosted their target price on shares of Lam Research from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, October 16th. Two investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Lam Research presently has a consensus rating of “Buy” and a consensus target price of $232.41.
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About Lam Research
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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