Lam Research Corporation (NASDAQ:LRCX) had its target price lifted by Deutsche Bank AG to $230.00 in a research report sent to investors on Wednesday. Deutsche Bank AG currently has a buy rating on the semiconductor company’s stock.
LRCX has been the topic of several other reports. DA Davidson reaffirmed a buy rating and issued a $175.00 target price on shares of Lam Research Corporation in a research report on Wednesday, July 26th. Needham & Company LLC reaffirmed a buy rating and issued a $220.00 target price (up from $200.00) on shares of Lam Research Corporation in a research report on Friday, October 13th. B. Riley reaffirmed a buy rating and issued a $250.00 target price on shares of Lam Research Corporation in a research report on Tuesday. Berenberg Bank reaffirmed a buy rating and issued a $240.00 target price on shares of Lam Research Corporation in a research report on Thursday, October 19th. Finally, Credit Suisse Group reaffirmed a buy rating on shares of Lam Research Corporation in a research report on Tuesday, August 29th. Five research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The company presently has an average rating of Buy and an average price target of $212.89.
Shares of Lam Research Corporation (NASDAQ LRCX) traded down $2.75 during midday trading on Wednesday, reaching $210.47. The company’s stock had a trading volume of 1,907,328 shares, compared to its average volume of 2,081,047. Lam Research Corporation has a 1 year low of $97.79 and a 1 year high of $217.00. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.31 and a quick ratio of 2.83. The firm has a market capitalization of $34,530.00, a price-to-earnings ratio of 17.97, a PEG ratio of 0.97 and a beta of 1.63.
Lam Research Corporation (NASDAQ:LRCX) last issued its earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.27 by $0.19. Lam Research Corporation had a return on equity of 30.19% and a net margin of 22.85%. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period last year, the company earned $1.81 earnings per share. The firm’s revenue for the quarter was up 51.8% on a year-over-year basis. equities research analysts predict that Lam Research Corporation will post 14.45 earnings per share for the current year.
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Lam Research Corporation declared that its board has authorized a share buyback plan on Tuesday, November 14th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the semiconductor company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Wednesday, December 6th will be given a $0.50 dividend. This is a positive change from Lam Research Corporation’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.95%. Lam Research Corporation’s dividend payout ratio (DPR) is 16.44%.
In related news, COO Timothy Archer sold 15,638 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $175.65, for a total value of $2,746,814.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael R. Cannon sold 9,000 shares of the stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $212.43, for a total value of $1,911,870.00. The disclosure for this sale can be found here. Insiders sold a total of 49,419 shares of company stock valued at $9,079,367 in the last quarter. 0.41% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in LRCX. Janus Henderson Group PLC boosted its position in shares of Lam Research Corporation by 23,238.8% in the 2nd quarter. Janus Henderson Group PLC now owns 4,742,669 shares of the semiconductor company’s stock valued at $670,756,000 after purchasing an additional 4,722,348 shares during the period. Harbour Capital Advisors LLC boosted its position in shares of Lam Research Corporation by 13,054.2% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,890,919 shares of the semiconductor company’s stock valued at $13,370,000 after purchasing an additional 1,876,544 shares during the period. Old Mutual Global Investors UK Ltd. boosted its position in shares of Lam Research Corporation by 1,696.5% in the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 878,960 shares of the semiconductor company’s stock valued at $124,311,000 after purchasing an additional 830,034 shares during the period. Schroder Investment Management Group boosted its position in shares of Lam Research Corporation by 3,248.5% in the 3rd quarter. Schroder Investment Management Group now owns 703,625 shares of the semiconductor company’s stock valued at $127,933,000 after purchasing an additional 682,612 shares during the period. Finally, Nordea Investment Management AB boosted its position in shares of Lam Research Corporation by 66.0% in the 3rd quarter. Nordea Investment Management AB now owns 1,575,269 shares of the semiconductor company’s stock valued at $291,488,000 after purchasing an additional 626,034 shares during the period. Institutional investors and hedge funds own 93.05% 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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