Lam Research (NASDAQ:LRCX) had its price target lifted by KeyCorp from $223.00 to $236.00 in a research note issued to investors on Thursday morning, The Fly reports. They currently have an overweight rating on the semiconductor company’s stock. KeyCorp also issued estimates for Lam Research’s Q1 2020 earnings at $3.34 EPS, Q2 2020 earnings at $3.77 EPS, Q3 2020 earnings at $4.13 EPS and Q4 2020 earnings at $4.52 EPS.
Several other equities research analysts have also commented on the stock. Credit Suisse Group reiterated a buy rating and issued a $278.00 price objective on shares of Lam Research in a research report on Monday, January 21st. Royal Bank of Canada upgraded shares of Lam Research from a sector perform rating to an outperform rating and set a $190.00 price objective on the stock in a research report on Tuesday, January 29th. Citigroup reiterated a buy rating and issued a $215.00 price objective (up from $177.00) on shares of Lam Research in a research report on Friday, March 15th. Morgan Stanley lowered shares of Lam Research from an overweight rating to an equal weight rating in a research report on Friday, February 22nd. Finally, B. Riley boosted their price objective on shares of Lam Research to $170.00 and gave the stock a neutral rating in a research report on Thursday, January 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $224.78.
Shares of NASDAQ LRCX opened at $206.39 on Thursday. The firm has a market cap of $31.49 billion, a price-to-earnings ratio of 11.55, a P/E/G ratio of 1.21 and a beta of 1.52. Lam Research has a one year low of $122.64 and a one year high of $209.92. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.61 and a current ratio of 3.37.
Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, April 24th. The semiconductor company reported $3.70 EPS for the quarter, topping the consensus estimate of $3.38 by $0.32. Lam Research had a net margin of 25.64% and a return on equity of 46.66%. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same period in the previous year, the firm earned $4.79 EPS. The business’s revenue was down 15.7% on a year-over-year basis. Analysts forecast that Lam Research will post 14.29 EPS for the current year.
Lam Research declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, January 23rd that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the semiconductor company to buy up to 23% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Wednesday, March 20th were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend was Tuesday, March 19th. Lam Research’s payout ratio is 24.62%.
In related news, Director Abhijit Y. Talwalkar sold 3,988 shares of the business’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $195.00, for a total value of $777,660.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christine Heckart sold 2,050 shares of the business’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $172.98, for a total transaction of $354,609.00. The disclosure for this sale can be found here. Insiders sold a total of 36,712 shares of company stock valued at $6,981,064 in the last three months. 0.44% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Johanson Financial Advisors Inc. increased its stake in shares of Lam Research by 0.9% during the 4th quarter. Johanson Financial Advisors Inc. now owns 7,302 shares of the semiconductor company’s stock valued at $994,000 after acquiring an additional 62 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Lam Research by 6.2% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,081 shares of the semiconductor company’s stock valued at $147,000 after acquiring an additional 63 shares during the last quarter. Brinker Capital Inc. increased its stake in shares of Lam Research by 3.0% during the 1st quarter. Brinker Capital Inc. now owns 2,377 shares of the semiconductor company’s stock valued at $426,000 after acquiring an additional 69 shares during the last quarter. Dividend Assets Capital LLC increased its stake in shares of Lam Research by 4.8% during the 4th quarter. Dividend Assets Capital LLC now owns 1,524 shares of the semiconductor company’s stock valued at $208,000 after acquiring an additional 70 shares during the last quarter. Finally, Hilltop Holdings Inc. increased its stake in shares of Lam Research by 4.9% during the 4th quarter. Hilltop Holdings Inc. now owns 1,771 shares of the semiconductor company’s stock valued at $242,000 after acquiring an additional 83 shares during the last quarter. 89.20% of the stock is owned by hedge funds and other institutional investors.
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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