Lam Research Corporation (NASDAQ:LRCX) announced a quarterly dividend on Tuesday, November 14th, RTT News reports. Shareholders of record on Wednesday, December 6th will be paid a dividend of 0.50 per share by the semiconductor company on Wednesday, January 10th. This represents a $2.00 dividend on an annualized basis and a yield of 0.96%. This is an increase from Lam Research Corporation’s previous quarterly dividend of $0.45.
Shares of Lam Research Corporation (NASDAQ:LRCX) traded up $1.84 during trading on Tuesday, reaching $209.23. 1,457,600 shares of the company’s stock were exchanged, compared to its average volume of 2,085,258. The company has a market cap of $33,586.02, a price-to-earnings ratio of 17.86, a PEG ratio of 0.97 and a beta of 1.63. Lam Research Corporation has a 1-year low of $97.51 and a 1-year high of $211.41. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.83 and a current ratio of 3.31.
Lam Research Corporation (NASDAQ:LRCX) last announced its quarterly earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.19. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.46 billion. Lam Research Corporation had a net margin of 22.85% and a return on equity of 30.19%. The company’s revenue was up 51.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.81 EPS. sell-side analysts expect that Lam Research Corporation will post 14.45 earnings per share for the current year.
A number of equities research analysts have recently weighed in on LRCX shares. Argus lifted their target price on shares of Lam Research Corporation from $196.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, October 19th. Berenberg Bank reaffirmed a “buy” rating and set a $240.00 target price on shares of Lam Research Corporation in a research note on Thursday, October 19th. Needham & Company LLC lifted their target price on shares of Lam Research Corporation from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 19th. Bank of America Corporation lifted their target price on shares of Lam Research Corporation from $230.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday, October 18th. Finally, J P Morgan Chase & Co reaffirmed a “buy” rating and set a $230.00 target price on shares of Lam Research Corporation in a research note on Wednesday, October 18th. Five analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $209.32.
In other news, COO Timothy Archer sold 8,691 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $171.76, for a total transaction of $1,492,766.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen G. Newberry sold 750 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $170.00, for a total transaction of $127,500.00. The disclosure for this sale can be found here. Insiders sold 40,419 shares of company stock valued at $7,167,497 over the last ninety days. Corporate insiders own 0.41% of the company’s stock.
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Lam Research Corporation Company Profile
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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