KeyCorp reaffirmed their buy rating on shares of Lam Research Corporation (NASDAQ:LRCX) in a research report report published on Wednesday, October 18th. KeyCorp currently has a $225.00 price objective on the semiconductor company’s stock, up from their previous price objective of $202.00. KeyCorp also issued estimates for Lam Research Corporation’s Q2 2018 earnings at $3.69 EPS, Q3 2018 earnings at $3.79 EPS, Q4 2018 earnings at $3.55 EPS, FY2018 earnings at $14.46 EPS, Q1 2019 earnings at $3.12 EPS, Q2 2019 earnings at $3.59 EPS, Q3 2019 earnings at $3.71 EPS, Q4 2019 earnings at $3.92 EPS and FY2019 earnings at $14.35 EPS.
LRCX has been the topic of several other reports. Berenberg Bank reissued a buy rating on shares of Lam Research Corporation in a report on Sunday, July 30th. Zacks Investment Research raised Lam Research Corporation from a sell rating to a hold rating and set a $221.00 target price on the stock in a report on Friday, October 13th. Argus began coverage on Lam Research Corporation in a report on Tuesday, September 12th. They issued a buy rating and a $196.00 target price on the stock. B. Riley reissued a buy rating and issued a $220.00 target price on shares of Lam Research Corporation in a report on Tuesday, August 15th. Finally, Needham & Company LLC reissued a buy rating and issued a $220.00 target price (up from $200.00) on shares of Lam Research Corporation in a report on Friday, October 13th. Five equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $209.32.
Shares of Lam Research Corporation (NASDAQ LRCX) traded up 0.59% during midday trading on Wednesday, hitting $208.00. 1,977,298 shares of the company were exchanged. The company has a 50-day moving average of $182.92 and a 200 day moving average of $160.30. The company has a market capitalization of $33.73 billion, a P/E ratio of 18.99 and a beta of 1.53. Lam Research Corporation has a one year low of $93.69 and a one year high of $208.41.
Lam Research Corporation (NASDAQ:LRCX) last released its quarterly earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, beating 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 company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period in the previous year, the company posted $1.81 earnings per share. The firm’s revenue was up 51.8% on a year-over-year basis. On average, equities research analysts expect that Lam Research Corporation will post $14.60 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend was Tuesday, September 12th. Lam Research Corporation’s payout ratio is 16.45%.
In related news, COO Timothy Archer sold 11,590 shares of the stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $181.76, for a total transaction of $2,106,598.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen G. Newberry sold 750 shares of the stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $190.00, for a total value of $142,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,419 shares of company stock valued at $7,167,497. Company insiders own 0.41% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Lam Research Corporation by 5.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 560,705 shares of the semiconductor company’s stock worth $79,301,000 after purchasing an additional 28,662 shares in the last quarter. Main Street Research LLC grew its position in shares of Lam Research Corporation by 3.6% during the second quarter. Main Street Research LLC now owns 97,974 shares of the semiconductor company’s stock worth $13,856,000 after purchasing an additional 3,367 shares in the last quarter. Pacad Investment Ltd. grew its position in shares of Lam Research Corporation by 252.5% during the second quarter. Pacad Investment Ltd. now owns 36,369 shares of the semiconductor company’s stock worth $5,144,000 after purchasing an additional 26,052 shares in the last quarter. Highland Capital Management LLC purchased a new stake in shares of Lam Research Corporation during the second quarter worth about $578,000. Finally, Soros Fund Management LLC purchased a new stake in shares of Lam Research Corporation during the first quarter worth about $71,978,000. Hedge funds and other institutional investors own 94.17% of the company’s stock.
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.
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