KeyCorp restated their buy rating on shares of Lam Research Corporation (NASDAQ:LRCX) in a research report sent to investors on Wednesday, October 18th. KeyCorp currently has a $225.00 target price on the semiconductor company’s stock, up from their prior target price 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.
A number of other equities research analysts have also recently commented on LRCX. Morgan Stanley reissued an overweight rating on shares of Lam Research Corporation in a report on Friday, July 7th. Credit Suisse Group restated a buy rating on shares of Lam Research Corporation in a research report on Tuesday, August 29th. DA Davidson reiterated a buy rating and issued a $175.00 price target on shares of Lam Research Corporation in a research report on Wednesday, July 26th. Argus assumed coverage on Lam Research Corporation in a research report on Tuesday, September 12th. They issued a buy rating and a $196.00 price target for the company. Finally, Needham & Company LLC reiterated a buy rating and issued a $200.00 price target on shares of Lam Research Corporation in a research report on Friday, September 1st. Five research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $209.32.
Lam Research Corporation (NASDAQ LRCX) traded up 0.59% on Wednesday, hitting $208.00. The company had a trading volume of 1,984,702 shares. The firm has a market capitalization of $33.73 billion, a PE ratio of 18.99 and a beta of 1.53. Lam Research Corporation has a 12-month low of $93.69 and a 12-month high of $208.65. The firm has a 50-day moving average price of $185.17 and a 200-day moving average price of $161.19.
Lam Research Corporation (NASDAQ:LRCX) last posted its quarterly earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, topping the 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 the consensus estimate of $2.46 billion. During the same quarter in the prior year, the business posted $1.81 EPS. The firm’s quarterly revenue was up 51.8% compared to the same quarter last year. On average, equities research analysts anticipate that Lam Research Corporation will post $14.60 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date was Tuesday, September 12th. Lam Research Corporation’s dividend payout ratio (DPR) is presently 16.45%.
In other Lam Research Corporation news, COO Timothy Archer sold 15,638 shares of the company’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $175.65, for a total value of $2,746,814.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephen G. Newberry sold 750 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $170.00, for a total transaction of $127,500.00. The disclosure for this sale can be found here. Insiders have sold 40,419 shares of company stock worth $7,167,497 over the last three months. Corporate insiders own 0.41% of the company’s stock.
Large investors have recently bought and sold shares of the business. Vantage Financial Partners Ltd. Inc. acquired a new position in shares of Lam Research Corporation in the second quarter worth about $254,000. Bollard Group LLC acquired a new position in shares of Lam Research Corporation in the third quarter worth about $130,000. Odey Holdings AG raised its position in shares of Lam Research Corporation by 9.9% in the second quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock worth $115,000 after acquiring an additional 73 shares during the period. BDO Wealth Advisors LLC acquired a new position in shares of Lam Research Corporation in the second quarter worth about $118,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Lam Research Corporation in the second quarter worth about $134,000. 94.17% of the stock is currently owned by institutional investors.
About Lam Research Corporation
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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