Lam Research Co. (NASDAQ:LRCX – Get Rating)’s share price reached a new 52-week high during trading on Friday . The company traded as high as $611.93 and last traded at $611.50, with a volume of 238376 shares trading hands. The stock had previously closed at $602.10.
Analyst Ratings Changes
LRCX has been the topic of several recent analyst reports. The Goldman Sachs Group upped their price objective on shares of Lam Research from $434.00 to $495.00 and gave the company a “buy” rating in a report on Thursday, January 26th. StockNews.com began coverage on shares of Lam Research in a report on Thursday, May 18th. They issued a “hold” rating for the company. Evercore ISI boosted their price objective on shares of Lam Research from $525.00 to $540.00 and gave the company an “outperform” rating in a report on Thursday, April 20th. KGI Securities upgraded Lam Research from a “neutral” rating to an “outperform” rating in a research note on Wednesday, March 1st. Finally, Berenberg Bank raised their target price on Lam Research from $530.00 to $555.00 and gave the company a “buy” rating in a research report on Thursday, April 20th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $508.10.
Lam Research Stock Performance
The firm’s fifty day moving average price is $522.81 and its 200 day moving average price is $488.13. The stock has a market capitalization of $83.22 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 6.65 and a beta of 1.50. The company has a current ratio of 3.09, a quick ratio of 1.99 and a debt-to-equity ratio of 0.59.
Lam Research Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Wednesday, June 14th will be given a $1.725 dividend. This represents a $6.90 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Tuesday, June 13th. Lam Research’s dividend payout ratio is presently 19.21%.
Insider Transactions at Lam Research
In related news, Director Abhijit Y. Talwalkar sold 881 shares of the stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $524.09, for a total value of $461,723.29. Following the transaction, the director now owns 13,881 shares of the company’s stock, valued at $7,274,893.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.35% of the company’s stock.
Hedge Funds Weigh In On Lam Research
Several hedge funds have recently added to or reduced their stakes in LRCX. Aspire Private Capital LLC acquired a new stake in Lam Research during the 1st quarter worth $14,424,035,000. Cranbrook Wealth Management LLC lifted its holdings in shares of Lam Research by 450.0% in the 1st quarter. Cranbrook Wealth Management LLC now owns 55 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 45 shares during the last quarter. Webster Bank N. A. acquired a new stake in shares of Lam Research in the 1st quarter valued at about $33,000. First Manhattan CO. LLC. grew its stake in Lam Research by 117.2% during the 1st quarter. First Manhattan CO. LLC. now owns 63 shares of the semiconductor company’s stock worth $33,000 after buying an additional 34 shares during the last quarter. Finally, Cornerstone Management Inc. increased its position in Lam Research by 225.0% during the first quarter. Cornerstone Management Inc. now owns 65 shares of the semiconductor company’s stock worth $34,000 after buying an additional 45 shares during the period. 81.60% of the stock is currently owned by hedge funds and other institutional investors.
Lam Research Company Profile
Lam Research Corp. engages in manufacturing and servicing of wafer processing semiconductor manufacturing equipment. It operates through the following geographical segments: the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. It offers thin film deposition, plasma etch, photoresist strip, and wafer cleaning.
- Get a free copy of the StockNews.com research report on Lam Research (LRCX)
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