Today, Lam Research Corp.’s (LRCX) “Buy” Rating Reaffirm at B. Riley

Today, Lam Research Corp.’s (LRCX) “Buy” Rating Reaffirm at B. Riley

Lam Research Corp. (NASDAQ:LRCX)‘s stock had its “buy” rating reaffirmed by analysts at B. Riley in a research note issued on Saturday. They currently have a $120.00 price target on the stock. B. Riley’s price target would indicate a potential upside of 11.59% from the company’s current price.

LRCX has been the topic of a number of other reports. RBC Capital Markets restated an “outperform” rating and set a $105.00 price target on shares of Lam Research Corp. in a research note on Sunday, October 9th. Zacks Investment Research upgraded shares of Lam Research Corp. from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a research note on Tuesday, September 27th. Needham & Company LLC restated a “buy” rating and set a $120.00 price target (up from $115.00) on shares of Lam Research Corp. in a research note on Monday, October 17th. Goldman Sachs Group Inc. initiated coverage on shares of Lam Research Corp. in a research note on Tuesday, October 25th. They set a “neutral” rating and a $104.00 price target on the stock. Finally, Bank of America Corp. restated a “buy” rating and set a $115.00 price target on shares of Lam Research Corp. in a research note on Monday, November 21st. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $106.35.

Shares of Lam Research Corp. (NASDAQ:LRCX) opened at 107.54 on Friday. Lam Research Corp. has a 12 month low of $63.10 and a 12 month high of $107.72. The firm has a 50-day moving average of $99.47 and a 200-day moving average of $90.52. The firm has a market cap of $17.51 billion, a price-to-earnings ratio of 21.35 and a beta of 1.49.

Lam Research Corp. (NASDAQ:LRCX) last released its earnings results on Wednesday, October 19th. The company reported $1.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.78 by $0.03. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Lam Research Corp. had a net margin of 15.02% and a return on equity of 18.43%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.82 earnings per share. On average, analysts anticipate that Lam Research Corp. will post $8.28 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 4th. Investors of record on Wednesday, December 14th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, December 12th. This represents a $1.80 annualized dividend and a dividend yield of 1.67%. This is a positive change from Lam Research Corp.’s previous quarterly dividend of $0.30. Lam Research Corp.’s dividend payout ratio (DPR) is currently 23.86%.

In related news, insider Richard A. Gottscho sold 47,540 shares of the stock in a transaction on Thursday, October 6th. The shares were sold at an average price of $98.85, for a total transaction of $4,699,329.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.46% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC raised its position in Lam Research Corp. by 28.6% in the second quarter. Quadrant Capital Group LLC now owns 1,258 shares of the company’s stock valued at $103,000 after buying an additional 280 shares in the last quarter. MSI Financial Services Inc raised its position in Lam Research Corp. by 40.2% in the third quarter. MSI Financial Services Inc now owns 1,095 shares of the company’s stock valued at $104,000 after buying an additional 314 shares in the last quarter. New York Life Trust Co. raised its position in Lam Research Corp. by 95.3% in the third quarter. New York Life Trust Co. now owns 1,170 shares of the company’s stock valued at $111,000 after buying an additional 571 shares in the last quarter. Global X Management Co. LLC raised its position in Lam Research Corp. by 97.4% in the third quarter. Global X Management Co. LLC now owns 1,344 shares of the company’s stock valued at $127,000 after buying an additional 663 shares in the last quarter. Finally, TLP Group LLC acquired a new position in Lam Research Corp. during the third quarter valued at approximately $132,000.

About Lam Research Corp.

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