Lam Research Corporation (NASDAQ:LRCX – Get Free Report)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $298.22, but opened at $275.00. Lam Research shares last traded at $278.8740, with a volume of 1,428,119 shares trading hands.
Analyst Ratings Changes
LRCX has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their price target on shares of Lam Research from $325.00 to $425.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Bank of America raised their price objective on shares of Lam Research from $330.00 to $480.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $320.00 target price on shares of Lam Research in a research note on Thursday, July 30th. Evercore reaffirmed an “outperform” rating and issued a $355.00 target price on shares of Lam Research in a report on Monday, July 20th. Finally, Sanford C. Bernstein increased their price target on Lam Research from $325.00 to $340.00 and gave the stock an “outperform” rating in a research note on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Lam Research has an average rating of “Moderate Buy” and a consensus target price of $361.81.
View Our Latest Stock Report on Lam Research
Lam Research Stock Performance
Lam Research (NASDAQ:LRCX – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The semiconductor company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.13. Lam Research had a net margin of 31.27% and a return on equity of 67.60%. The firm had revenue of $6.72 billion for the quarter, compared to analysts’ expectations of $6.66 billion. During the same quarter last year, the business posted $1.33 earnings per share. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. As a group, equities research analysts expect that Lam Research Corporation will post 9.33 EPS for the current year.
Lam Research Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 23rd will be issued a $0.33 dividend. The ex-dividend date is Wednesday, September 23rd. This represents a $1.32 dividend on an annualized basis and a yield of 0.5%. This is an increase from Lam Research’s previous quarterly dividend of $0.26. Lam Research’s payout ratio is presently 18.06%.
Insiders Place Their Bets
In other news, insider Ava Harter sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $302.46, for a total transaction of $1,512,300.00. Following the completion of the transaction, the insider owned 42,462 shares in the company, valued at $12,843,056.52. This trade represents a 10.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bethany Mayer sold 9,557 shares of Lam Research stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $314.74, for a total value of $3,007,970.18. Following the completion of the sale, the director directly owned 20,995 shares in the company, valued at $6,607,966.30. This trade represents a 31.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 32,839 shares of company stock worth $10,644,740 in the last 90 days. 0.31% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Lam Research
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Paladin Partners LLC bought a new stake in Lam Research in the 2nd quarter worth approximately $26,000. Bravera Wealth purchased a new position in shares of Lam Research in the second quarter valued at $46,000. Cedar Mountain Advisors LLC grew its holdings in shares of Lam Research by 242.9% in the first quarter. Cedar Mountain Advisors LLC now owns 120 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 85 shares in the last quarter. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Lam Research in the second quarter valued at $52,000. Finally, Vermillion Wealth Management Inc. bought a new stake in Lam Research in the first quarter worth $26,000. 84.61% of the stock is owned by institutional investors.
Lam Research Company Profile
Lam Research Corporation is a semiconductor equipment company that develops and manufactures systems used in the fabrication of integrated circuits. Its equipment supports key wafer-processing steps, including deposition, etch, wafer cleaning, and related processes used to create and connect the microscopic features found on semiconductor devices.
The company serves semiconductor manufacturers producing a range of products, including memory, logic, and specialty chips. In addition to manufacturing equipment, Lam Research provides installation, maintenance, spare parts, upgrades, technical support, and other services intended to help customers operate and improve their fabrication facilities.
Founded in 1980, Lam Research is headquartered in Fremont, California, and serves customers through a global network of offices, engineering facilities, and support operations.
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