Nomura started coverage on shares of Lam Research (NASDAQ:LRCX) in a research note issued to investors on Wednesday morning, BenzingaRatingsTable reports. The firm issued a neutral rating and a $216.00 target price on the semiconductor company’s stock.
A number of other analysts have also recently issued reports on LRCX. ValuEngine cut shares of Lam Research from a buy rating to a hold rating in a research note on Thursday, August 1st. Royal Bank of Canada reiterated a buy rating on shares of Lam Research in a research note on Wednesday, August 7th. Wells Fargo & Co lifted their target price on shares of Lam Research from $195.00 to $200.00 and gave the company a market perform rating in a research note on Thursday, August 1st. Credit Suisse Group reiterated a positive rating on shares of Lam Research in a research note on Monday, July 8th. They noted that the move was a valuation call. Finally, Cfra set a $210.00 target price on shares of Lam Research and gave the company a hold rating in a research note on Saturday, August 31st. Twelve research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $223.59.
NASDAQ LRCX opened at $235.31 on Wednesday. The company has a quick ratio of 2.96, a current ratio of 3.61 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $34.35 billion, a PE ratio of 16.33, a price-to-earnings-growth ratio of 1.46 and a beta of 1.62. The company has a 50 day moving average price of $212.51 and a two-hundred day moving average price of $194.59. Lam Research has a 12-month low of $122.64 and a 12-month high of $239.40.
Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, July 31st. The semiconductor company reported $3.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.40 by $0.22. The firm had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Lam Research had a net margin of 22.70% and a return on equity of 43.72%. The company’s revenue was down 24.5% compared to the same quarter last year. During the same period in the previous year, the company earned $5.31 earnings per share. As a group, equities analysts anticipate that Lam Research will post 13.6 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Tuesday, October 1st will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.95%. This is a boost from Lam Research’s previous quarterly dividend of $1.10. The ex-dividend date is Monday, September 30th. Lam Research’s payout ratio is presently 30.24%.
In related news, SVP Sarah A. O’dowd sold 22,140 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $233.77, for a total transaction of $5,175,667.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kevin Jennings sold 1,122 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $210.07, for a total transaction of $235,698.54. The disclosure for this sale can be found here. Insiders sold 67,997 shares of company stock valued at $14,854,855 over the last 90 days. 0.44% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in LRCX. Global Retirement Partners LLC increased its position in Lam Research by 119.4% during the first quarter. Global Retirement Partners LLC now owns 147 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 80 shares during the period. Zions Bancorporation N.A. bought a new position in Lam Research during the first quarter worth $28,000. Hexavest Inc. bought a new position in Lam Research during the second quarter worth $28,000. Strategy Asset Managers LLC bought a new position in Lam Research during the first quarter worth $33,000. Finally, MUFG Americas Holdings Corp increased its position in Lam Research by 75.0% during the second quarter. MUFG Americas Holdings Corp now owns 175 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 75 shares during the period. 88.43% of the stock is currently owned by institutional investors and hedge funds.
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 ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.
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