Lam Research Corporation (NASDAQ:LRCX - Get Free Report)'s share price was down 2% during trading on Tuesday . The company traded as low as $95.75 and last traded at $96.49. Approximately 2,357,926 shares changed hands during trading, a decline of 80% from the average daily volume of 11,955,363 shares. The stock had previously closed at $98.41.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on LRCX shares. Raymond James Financial boosted their price target on Lam Research from $90.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Citigroup upped their target price on Lam Research from $108.00 to $113.00 and gave the company a "buy" rating in a research report on Friday. Bank of America cut their price target on Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. The Goldman Sachs Group initiated coverage on Lam Research in a report on Thursday, July 10th. They issued a "buy" rating and a $115.00 target price on the stock. Finally, Argus lifted their price target on Lam Research from $105.00 to $120.00 and gave the stock a "buy" rating in a report on Friday. Seven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $107.09.
Read Our Latest Stock Report on Lam Research
Lam Research Trading Down 1.7%
The firm has a 50 day simple moving average of $94.31 and a 200 day simple moving average of $82.57. The company has a current ratio of 2.21, a quick ratio of 1.55 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $123.80 billion, a PE ratio of 23.24, a P/E/G ratio of 1.29 and a beta of 1.65.
Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.12. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. The firm had revenue of $5.17 billion for the quarter, compared to analysts' expectations of $4.99 billion. During the same period in the prior year, the firm earned $1.03 EPS. The company's revenue was up 33.6% compared to the same quarter last year. Equities analysts expect that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.
Lam Research Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Wednesday, June 18th. Lam Research's dividend payout ratio is presently 22.12%.
Institutional Investors Weigh In On Lam Research
A number of institutional investors have recently bought and sold shares of the business. Elyxium Wealth LLC increased its stake in Lam Research by 2.2% in the 2nd quarter. Elyxium Wealth LLC now owns 9,537 shares of the semiconductor company's stock worth $928,000 after buying an additional 205 shares in the last quarter. Key Financial Inc purchased a new position in shares of Lam Research during the second quarter valued at about $45,000. Corton Capital Inc. purchased a new position in shares of Lam Research during the second quarter valued at about $374,000. Freestone Capital Holdings LLC grew its position in shares of Lam Research by 180.2% during the second quarter. Freestone Capital Holdings LLC now owns 7,737 shares of the semiconductor company's stock valued at $753,000 after purchasing an additional 4,976 shares in the last quarter. Finally, Westside Investment Management Inc. grew its position in shares of Lam Research by 3.5% during the second quarter. Westside Investment Management Inc. now owns 7,940 shares of the semiconductor company's stock valued at $773,000 after purchasing an additional 270 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.
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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