The Lam Research Corp. (LRCX) Rating Reiterated by Credit Suisse Group AG

The Lam Research Corp. (LRCX) Rating Reiterated by Credit Suisse Group AG

Credit Suisse Group AG restated their buy rating on shares of Lam Research Corp. (NASDAQ:LRCX) in a research note issued to investors on Thursday morning. The brokerage currently has a $100.00 target price on the stock.

LRCX has been the subject of a number of other research reports. Zacks Investment Research upgraded Lam Research Corp. from a hold rating to a buy rating and set a $102.00 price objective for the company in a report on Tuesday, September 27th. Needham & Company LLC reaffirmed a buy rating and set a $105.00 target price on shares of Lam Research Corp. in a research report on Tuesday, September 20th. Cowen and Company reaffirmed an outperform rating and set a $95.00 target price on shares of Lam Research Corp. in a research report on Wednesday, August 31st. Citigroup Inc. lifted their target price on Lam Research Corp. from $94.00 to $105.00 and gave the company a buy rating in a research report on Friday, July 29th. Finally, Bank of America Corp. set a $108.00 target price on Lam Research Corp. and gave the company a buy rating in a research report on Wednesday, August 10th. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $100.59.

Shares of Lam Research Corp. (NASDAQ:LRCX) opened at 99.59 on Thursday. Lam Research Corp. has a 1-year low of $63.10 and a 1-year high of $102.44. The stock has a 50 day moving average price of $94.09 and a 200-day moving average price of $86.17. The stock has a market capitalization of $15.96 billion, a PE ratio of 19.08 and a beta of 1.47.

Lam Research Corp. (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $1.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.64 by $0.16. Lam Research Corp. had a return on equity of 18.95% and a net margin of 15.53%. The company earned $1.55 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the previous year, the business earned $1.50 EPS. Lam Research Corp.’s revenue was up 4.4% compared to the same quarter last year. On average, analysts forecast that Lam Research Corp. will post $7.02 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 28th. Stockholders of record on Wednesday, September 14th were paid a $0.30 dividend. The ex-dividend date was Monday, September 12th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.20%. Lam Research Corp.’s payout ratio is 22.99%.

In other news, insider Richard A. Gottscho sold 47,540 shares of the company’s stock in a transaction dated Thursday, October 6th. The stock was sold at an average price of $98.85, for a total value of $4,699,329.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.46% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. Aperio Group LLC increased its stake in shares of Lam Research Corp. by 9.3% in the first quarter. Aperio Group LLC now owns 51,086 shares of the company’s stock worth $4,220,000 after buying an additional 4,353 shares during the last quarter. Ngam Advisors L.P. increased its position in shares of Lam Research Corp. by 44.3% in the first quarter. Ngam Advisors L.P. now owns 27,759 shares of the company’s stock worth $2,292,000 after buying an additional 8,522 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Lam Research Corp. by 4.0% in the first quarter. Prudential Financial Inc. now owns 239,775 shares of the company’s stock worth $19,806,000 after buying an additional 9,230 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Lam Research Corp. by 0.8% in the first quarter. Franklin Resources Inc. now owns 1,435,651 shares of the company’s stock worth $118,585,000 after buying an additional 10,940 shares in the last quarter. Finally, BlackRock Group LTD increased its position in shares of Lam Research Corp. by 3.9% in the first quarter. BlackRock Group LTD now owns 1,618,463 shares of the company’s stock worth $133,685,000 after buying an additional 60,958 shares in the last quarter.

Lam Research Corp. Company Profile

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