Lam Research Corporation (NASDAQ:LRCX – Get Free Report) rose 4.9% on Monday . The company traded as high as $305.69 and last traded at $302.28. 11,223,035 shares changed hands during trading, an increase of 3% from the average daily volume of 10,896,326 shares. The stock had previously closed at $288.11.
Analysts Set New Price Targets
LRCX has been the subject of several research analyst reports. Oppenheimer reiterated an “outperform” rating and issued a $400.00 price target (up from $330.00) on shares of Lam Research in a report on Monday, June 15th. Jefferies Financial Group set a $335.00 price target on Lam Research and gave the company a “buy” rating in a research note on Thursday, July 30th. Stifel Nicolaus boosted their price objective on shares of Lam Research from $325.00 to $425.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Rothschild & Co Redburn increased their price target on Lam Research from $305.00 to $420.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Finally, Berenberg Bank set a $420.00 price objective on shares of Lam Research in a research report on Wednesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $361.81.
Read Our Latest Stock Report on Lam Research
Lam Research Stock Up 4.9%
Lam Research (NASDAQ:LRCX – Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $6.72 billion during the quarter, compared to analysts’ expectations of $6.66 billion. Lam Research had a return on equity of 67.60% and a net margin of 31.27%.The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.33 earnings per share. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. As a group, research analysts forecast that Lam Research Corporation will post 9.33 earnings per share for the current fiscal year.
Lam Research Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Wednesday, September 23rd will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 0.4%. This is a boost from Lam Research’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, September 23rd. Lam Research’s payout ratio is presently 22.92%.
Insiders Place Their Bets
In other Lam Research news, insider Ava Harter sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $302.46, for a total value of $1,512,300.00. Following the transaction, the insider directly owned 42,462 shares of the company’s stock, valued at $12,843,056.52. This trade represents a 10.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 the company’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $314.74, for a total transaction of $3,007,970.18. Following the sale, the director directly owned 20,995 shares of the company’s stock, valued at approximately $6,607,966.30. This trade represents a 31.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 32,839 shares of company stock worth $10,644,740 over the last ninety days. Corporate insiders own 0.31% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in LRCX. Fideuram Asset Management Ireland dac bought a new stake in shares of Lam Research in the fourth quarter worth $10,035,000. Bank of America Corp DE increased its holdings in Lam Research by 5.5% in the second quarter. Bank of America Corp DE now owns 11,244,147 shares of the semiconductor company’s stock worth $4,872,426,000 after purchasing an additional 584,489 shares in the last quarter. Rokos Capital Management LLP lifted its position in shares of Lam Research by 42.0% during the 1st quarter. Rokos Capital Management LLP now owns 259,921 shares of the semiconductor company’s stock valued at $55,532,000 after acquiring an additional 76,840 shares during the period. Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in shares of Lam Research in the 1st quarter valued at about $59,973,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Lam Research in the first quarter valued at approximately $26,489,000. Institutional investors own 84.61% of the company’s stock.
About Lam Research
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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