Lam Research (NASDAQ:LRCX) – Research analysts at KeyCorp increased their FY2019 earnings per share estimates for shares of Lam Research in a note issued to investors on Tuesday, April 17th. KeyCorp analyst W. Twigg now expects that the semiconductor company will earn $17.71 per share for the year, up from their previous estimate of $16.37. KeyCorp currently has a “Overweight” rating and a $283.00 price objective on the stock. KeyCorp also issued estimates for Lam Research’s Q4 2019 earnings at $5.00 EPS.
Other analysts also recently issued reports about the company. BidaskClub raised Lam Research from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 10th. Stifel Nicolaus lifted their price target on Lam Research from $235.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. ValuEngine raised Lam Research from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. B. Riley lifted their price target on Lam Research from $270.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Morgan Stanley lifted their price target on Lam Research from $229.00 to $238.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. Two investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $249.69.
Shares of NASDAQ LRCX opened at $191.91 on Friday. The stock has a market cap of $33,204.83, a price-to-earnings ratio of 19.23, a price-to-earnings-growth ratio of 0.67 and a beta of 1.41. The company has a quick ratio of 2.09, a current ratio of 2.64 and a debt-to-equity ratio of 0.26. Lam Research has a 1 year low of $137.55 and a 1 year high of $234.88.
Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Tuesday, April 17th. The semiconductor company reported $4.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.38 by $0.41. The company had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.85 billion. Lam Research had a return on equity of 41.25% and a net margin of 18.32%. Lam Research’s revenue for the quarter was up 34.3% on a year-over-year basis. During the same period in the previous year, the business earned $3.10 EPS.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 7th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.04%. The ex-dividend date was Tuesday, March 6th. Lam Research’s dividend payout ratio is presently 20.04%.
Lam Research announced that its board has approved a stock buyback plan on Tuesday, March 6th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the semiconductor company to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
In other Lam Research news, insider Seshasayee Varadarajan sold 25,453 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $215.00, for a total transaction of $5,472,395.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Timothy Archer sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 17th. The shares were sold at an average price of $210.00, for a total value of $1,050,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 93,393 shares of company stock valued at $20,272,556. 0.41% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC raised its stake in Lam Research by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 1,917,899 shares of the semiconductor company’s stock valued at $352,365,000 after acquiring an additional 74,507 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in Lam Research by 16.3% during the 4th quarter. UBS Asset Management Americas Inc. now owns 1,568,123 shares of the semiconductor company’s stock valued at $288,644,000 after acquiring an additional 219,479 shares during the last quarter. Old Mutual Global Investors UK Ltd. raised its stake in Lam Research by 16.4% during the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 1,055,653 shares of the semiconductor company’s stock valued at $194,314,000 after acquiring an additional 148,375 shares during the last quarter. Glenmede Trust Co. NA raised its stake in Lam Research by 1.0% during the 4th quarter. Glenmede Trust Co. NA now owns 763,059 shares of the semiconductor company’s stock valued at $140,455,000 after acquiring an additional 7,864 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in Lam Research by 8.1% during the 4th quarter. First Trust Advisors LP now owns 730,839 shares of the semiconductor company’s stock valued at $134,526,000 after acquiring an additional 54,910 shares during the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.
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Lam Research Company Profile
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers thin film deposition products, including SABRE electrochemical deposition products for copper damascene manufacturing; ALTUS systems to deposit conformal atomic layer films for tungsten metallization applications; VECTOR plasma-enhanced chemical vapor deposition (CVD) and atomic layer deposition systems to deposit oxides, nitrides, and carbides for hardmasks, multiple patterning films, anti-reflective layers, multi-layer stack films, and diffusion barriers; and Striker atomic layer deposition systems that deliver conformal dielectric films for spacer-based patterning and liner applications in various advanced memory and logic structures.
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