Lam Research (NASDAQ:LRCX) Reaches New 12-Month High - What's Next?

Key Points

• Lam Research's stock price reached a new 52-week high of $104.09 during mid-day trading, closing at $103.84.
• Analyst ratings reflect a positive outlook, with an average price target of $107.09 and a consensus rating of "Moderate Buy" from 20 analysts.
• The company reported a 33.6% year-over-year revenue increase, earning $1.33 per share, surpassing analyst expectations of $1.21.

Lam Research Corporation (NASDAQ:LRCX - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $104.09 and last traded at $103.84, with a volume of 67121 shares trading hands. The stock had previously closed at $101.75.

Analyst Ratings Changes

A number of research analysts have commented on the stock. TD Cowen upped their target price on shares of Lam Research from $100.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. B. Riley restated a "buy" rating and set a $115.00 target price (up from $95.00) on shares of Lam Research in a research note on Wednesday, June 18th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $115.00 price target (up from $90.00) on shares of Lam Research in a research note on Tuesday, June 24th. TD Securities lowered their target price on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Finally, KeyCorp lifted their price objective on shares of Lam Research from $105.00 to $115.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Seven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $107.09.

Lam Research Stock Up 0.9%

The stock has a fifty day moving average price of $95.53 and a two-hundred day moving average price of $83.04. The company has a market cap of $131.37 billion, a price-to-earnings ratio of 24.73, a P/E/G ratio of 1.32 and a beta of 1.65. The company has a quick ratio of 1.55, a current ratio of 2.21 and a debt-to-equity ratio of 0.38.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.21 by $0.12. The business had revenue of $5.17 billion during the quarter, compared to analysts' expectations of $4.99 billion. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. The business's revenue for the quarter was up 33.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.03 EPS. As a group, sell-side analysts expect that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were issued a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.9%. Lam Research's dividend payout ratio (DPR) is presently 22.12%.

Institutional Investors Weigh In On Lam Research

Institutional investors and hedge funds have recently bought and sold shares of the business. Nomura Asset Management Co. Ltd. lifted its position in shares of Lam Research by 2.0% in the second quarter. Nomura Asset Management Co. Ltd. now owns 618,118 shares of the semiconductor company's stock worth $60,168,000 after buying an additional 12,234 shares in the last quarter. Midwest Professional Planners LTD. raised its stake in Lam Research by 1.7% in the 2nd quarter. Midwest Professional Planners LTD. now owns 52,350 shares of the semiconductor company's stock worth $5,096,000 after acquiring an additional 857 shares during the last quarter. Raiffeisen Bank International AG grew its position in Lam Research by 11.3% during the 2nd quarter. Raiffeisen Bank International AG now owns 168,621 shares of the semiconductor company's stock worth $16,191,000 after purchasing an additional 17,119 shares during the period. Westpac Banking Corp grew its position in Lam Research by 59.8% during the 2nd quarter. Westpac Banking Corp now owns 15,953 shares of the semiconductor company's stock worth $1,553,000 after purchasing an additional 5,969 shares during the period. Finally, MTM Investment Management LLC purchased a new position in Lam Research in the 2nd quarter worth approximately $293,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Lam Research Company Profile

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.

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