Lam Research Corporation’s (LRCX) “Outperform” Rating Reaffirmed at KeyCorp

KeyCorp restated their outperform rating on shares of Lam Research Corporation (NASDAQ:LRCX) in a research report sent to investors on Saturday. The firm currently has a $202.00 price target on the semiconductor company’s stock.

Other equities analysts also recently issued reports about the stock. Stifel Nicolaus reiterated a buy rating and set a $189.00 price target (up from $170.00) on shares of Lam Research Corporation in a report on Monday, June 19th. Needham & Company LLC upped their price target on shares of Lam Research Corporation from $165.00 to $175.00 and gave the company a buy rating in a report on Friday, June 16th. BidaskClub downgraded shares of Lam Research Corporation from a strong-buy rating to a buy rating in a report on Wednesday, June 14th. UBS AG restated a buy rating and issued a $190.00 target price on shares of Lam Research Corporation in a research note on Tuesday, June 13th. Finally, Bank of America Corporation restated a buy rating and issued a $195.00 target price (up from $165.00) on shares of Lam Research Corporation in a research note on Sunday, June 11th. Four equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $177.68.

Lam Research Corporation (NASDAQ LRCX) traded up 0.24% during mid-day trading on Friday, hitting $172.99. 2,691,091 shares of the stock were exchanged. The company’s 50-day moving average price is $161.26 and its 200 day moving average price is $147.54. Lam Research Corporation has a 52 week low of $90.56 and a 52 week high of $174.37. The firm has a market capitalization of $28.10 billion, a price-to-earnings ratio of 18.72 and a beta of 1.47.

Lam Research Corporation (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 EPS for the quarter, beating the consensus estimate of $3.02 by $0.09. The company had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.31 billion. Lam Research Corporation had a net margin of 21.19% and a return on equity of 26.78%. The firm’s revenue was up 51.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.80 EPS. Equities research analysts expect that Lam Research Corporation will post $12.75 EPS for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $1.80 dividend on an annualized basis and a yield of 1.04%. Lam Research Corporation’s payout ratio is 19.57%.

In related news, Director Stephen G. Newberry sold 750 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $170.00, for a total transaction of $127,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Timothy Archer sold 8,691 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $171.76, for a total transaction of $1,492,766.16. The disclosure for this sale can be found here. Insiders have sold 29,338 shares of company stock valued at $4,717,492 in the last three months. 0.46% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Lam Research Corporation by 2.6% during the second quarter. Vanguard Group Inc. now owns 16,162,079 shares of the semiconductor company’s stock valued at $2,285,802,000 after acquiring an additional 411,951 shares during the last quarter. State Street Corp lifted its position in Lam Research Corporation by 4.6% during the first quarter. State Street Corp now owns 7,112,786 shares of the semiconductor company’s stock valued at $912,994,000 after acquiring an additional 313,082 shares during the last quarter. Janus Henderson Group PLC lifted its position in Lam Research Corporation by 23,238.8% during the second quarter. Janus Henderson Group PLC now owns 4,742,669 shares of the semiconductor company’s stock valued at $670,756,000 after acquiring an additional 4,722,348 shares during the last quarter. Janus Capital Management LLC lifted its position in Lam Research Corporation by 13.7% during the first quarter. Janus Capital Management LLC now owns 3,608,710 shares of the semiconductor company’s stock valued at $463,214,000 after acquiring an additional 433,555 shares during the last quarter. Finally, TIAA CREF Investment Management LLC lifted its position in Lam Research Corporation by 3.6% during the first quarter. TIAA CREF Investment Management LLC now owns 2,373,238 shares of the semiconductor company’s stock valued at $304,629,000 after acquiring an additional 82,974 shares during the last quarter. 94.10% of the stock is owned by institutional investors.

Lam Research Corporation Company Profile

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.

Analyst Recommendations for Lam Research Corporation (NASDAQ:LRCX)

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