Lam Research (NASDAQ:LRCX) Reaches New 12-Month Low at $374.55

Shares of Lam Research Co. (NASDAQ:LRCXGet Rating) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $374.55 and last traded at $375.43, with a volume of 36838 shares changing hands. The stock had previously closed at $386.83.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on LRCX shares. B. Riley downgraded Lam Research from a “buy” rating to a “neutral” rating and lowered their price target for the company from $625.00 to $525.00 in a research report on Wednesday, June 15th. Cowen reduced their price objective on Lam Research from $800.00 to $620.00 in a research note on Thursday, July 28th. Cowen reduced their price objective on Lam Research from $800.00 to $620.00 in a research note on Thursday, July 28th. Piper Sandler reduced their price objective on Lam Research from $596.00 to $567.00 and set a “neutral” rating on the stock in a research note on Thursday, May 26th. Finally, The Goldman Sachs Group boosted their price objective on Lam Research from $448.00 to $504.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $610.30.

Lam Research Stock Performance

The company has a debt-to-equity ratio of 0.80, a current ratio of 2.69 and a quick ratio of 1.82. The stock has a market capitalization of $52.09 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 0.91 and a beta of 1.36. The company has a fifty day moving average of $460.60 and a two-hundred day moving average of $472.24.

Lam Research (NASDAQ:LRCXGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The semiconductor company reported $8.83 earnings per share for the quarter, beating the consensus estimate of $7.30 by $1.53. The firm had revenue of $4.64 billion during the quarter, compared to analyst estimates of $4.21 billion. Lam Research had a return on equity of 75.71% and a net margin of 26.73%. Lam Research’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the company earned $8.09 earnings per share. On average, equities analysts anticipate that Lam Research Co. will post 37.31 EPS for the current year.

Lam Research Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 5th. Stockholders of record on Wednesday, September 14th will be issued a dividend of $1.725 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This is a positive change from Lam Research’s previous quarterly dividend of $1.50. This represents a $6.90 annualized dividend and a dividend yield of 1.81%. Lam Research’s dividend payout ratio is 21.07%.

Hedge Funds Weigh In On Lam Research

Several institutional investors have recently made changes to their positions in the stock. Coston McIsaac & Partners bought a new position in shares of Lam Research during the second quarter valued at approximately $71,000. Federated Hermes Inc. grew its holdings in shares of Lam Research by 5.6% during the second quarter. Federated Hermes Inc. now owns 182,148 shares of the semiconductor company’s stock valued at $77,623,000 after purchasing an additional 9,627 shares during the last quarter. B. Riley Wealth Management Inc. grew its holdings in shares of Lam Research by 56.7% during the second quarter. B. Riley Wealth Management Inc. now owns 1,744 shares of the semiconductor company’s stock valued at $743,000 after purchasing an additional 631 shares during the last quarter. Amundi grew its holdings in shares of Lam Research by 3.7% during the second quarter. Amundi now owns 1,211,060 shares of the semiconductor company’s stock valued at $509,336,000 after purchasing an additional 42,874 shares during the last quarter. Finally, Verition Fund Management LLC grew its holdings in shares of Lam Research by 23.5% during the second quarter. Verition Fund Management LLC now owns 3,773 shares of the semiconductor company’s stock valued at $1,607,000 after purchasing an additional 717 shares during the last quarter. 80.09% of the stock is owned by institutional investors.

About Lam Research

(Get Rating)

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.

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