Shares of Lam Research Corporation (NASDAQ:LRCX - Get Free Report) hit a new 52-week high on Monday after UBS Group raised their price target on the stock from $95.00 to $120.00. UBS Group currently has a buy rating on the stock. Lam Research traded as high as $102.40 and last traded at $102.01, with a volume of 546832 shares changing hands. The stock had previously closed at $100.66.
Several other brokerages have also recently issued reports on LRCX. Bank of America dropped their target price on Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Mizuho upped their price target on Lam Research from $100.00 to $115.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. Morgan Stanley upped their price target on Lam Research from $82.00 to $87.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 1st. Evercore ISI increased their target price on Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Finally, Stifel Nicolaus dropped their target price on Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $100.57.
View Our Latest Research Report on LRCX
Institutional Investors Weigh In On Lam Research
A number of institutional investors have recently added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC purchased a new position in shares of Lam Research in the first quarter valued at $26,000. West Paces Advisors Inc. purchased a new position in Lam Research in the 4th quarter worth $27,000. Mpwm Advisory Solutions LLC bought a new stake in Lam Research in the 4th quarter worth $27,000. Park Square Financial Group LLC bought a new position in Lam Research during the 4th quarter valued at approximately $31,000. Finally, Cedar Wealth Management LLC bought a new stake in shares of Lam Research during the 4th quarter valued at about $34,000. 84.61% of the stock is owned by institutional investors.
Lam Research Price Performance
The firm has a 50 day moving average of $91.10 and a two-hundred day moving average of $80.94. The company has a market cap of $130.56 billion, a PE ratio of 28.39, a P/E/G ratio of 1.42 and a beta of 1.68. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39.
Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. The firm had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same period last year, the business posted $7.79 EPS. The company's revenue for the quarter was up 24.4% on a year-over-year basis. Research analysts predict that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.
Lam Research Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.92 annualized dividend and a yield of 0.90%. Lam Research's payout ratio is 25.63%.
About Lam Research
(
Get Free Report)
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.
Further Reading
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