DA Davidson reiterated their buy rating on shares of Lam Research Corporation (NASDAQ:LRCX) in a research note published on Wednesday, July 26th. They currently have a $175.00 price objective on the semiconductor company’s stock. DA Davidson also issued estimates for Lam Research Corporation’s Q3 2018 earnings at $2.95 EPS, Q4 2018 earnings at $3.15 EPS, Q3 2019 earnings at $3.15 EPS, Q4 2019 earnings at $3.55 EPS and FY2019 earnings at $13.00 EPS.
LRCX has been the topic of a number of other reports. Morgan Stanley reaffirmed an overweight rating and issued a $129.00 price objective on shares of Lam Research Corporation in a research note on Wednesday, April 19th. Goldman Sachs Group, Inc. (The) lowered shares of Lam Research Corporation from a conviction-buy rating to a buy rating and raised their price objective for the company from $153.00 to $160.00 in a research note on Monday, May 8th. They noted that the move was a valuation call. B. Riley reaffirmed a buy rating and issued a $175.00 price objective on shares of Lam Research Corporation in a research note on Wednesday, April 19th. UBS AG reaffirmed a buy rating and issued a $180.00 price objective (up from $158.00) on shares of Lam Research Corporation in a research note on Wednesday, May 17th. Finally, Deutsche Bank AG raised their price objective on shares of Lam Research Corporation from $155.00 to $170.00 and gave the company a buy rating in a research note on Tuesday, May 30th. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Lam Research Corporation currently has a consensus rating of Buy and a consensus price target of $172.41.
Lam Research Corporation (NASDAQ:LRCX) traded up 0.703% during midday trading on Wednesday, reaching $156.935. 1,175,327 shares of the company traded hands. Lam Research Corporation has a 12-month low of $88.13 and a 12-month high of $170.00. The stock has a market capitalization of $25.38 billion, a P/E ratio of 16.984 and a beta of 1.46. The company has a 50 day moving average of $153.66 and a 200-day moving average of $137.56.
Lam Research Corporation (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the firm earned $1.80 earnings per share. The business’s quarterly revenue was up 51.6% compared to the same quarter last year. Equities analysts anticipate that Lam Research Corporation will post $12.71 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.16%. Lam Research Corporation’s dividend payout ratio (DPR) is presently 19.57%.
In other news, Director Stephen G. Newberry sold 20,047 shares of Lam Research Corporation stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $150.01, for a total value of $3,007,250.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Timothy Archer sold 6,897 shares of Lam Research Corporation stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $160.50, for a total transaction of $1,106,968.50. The disclosure for this sale can be found here. Insiders have sold 51,656 shares of company stock valued at $7,925,366 in the last 90 days. 0.46% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Harbour Capital Advisors LLC increased its position in Lam Research Corporation by 13,054.2% in the second quarter. Harbour Capital Advisors LLC now owns 1,890,919 shares of the semiconductor company’s stock valued at $13,370,000 after buying an additional 1,876,544 shares during the last quarter. Soros Fund Management LLC acquired a new position in Lam Research Corporation during the first quarter valued at $71,978,000. Vanguard Group Inc. increased its position in Lam Research Corporation by 3.1% in the first quarter. Vanguard Group Inc. now owns 15,750,128 shares of the semiconductor company’s stock valued at $2,021,687,000 after buying an additional 471,405 shares during the last quarter. Acadian Asset Management LLC increased its position in Lam Research Corporation by 260.9% in the second quarter. Acadian Asset Management LLC now owns 626,623 shares of the semiconductor company’s stock valued at $88,624,000 after buying an additional 452,972 shares during the last quarter. Finally, LSV Asset Management increased its position in Lam Research Corporation by 22.9% in the first quarter. LSV Asset Management now owns 2,408,170 shares of the semiconductor company’s stock valued at $309,112,000 after buying an additional 449,402 shares during the last quarter. Hedge funds and other institutional investors own 98.98% of the company’s stock.
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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