Lam Research (NASDAQ:LRCX) Hits New 52-Week High at $611.93

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 (NASDAQ:LRCX – Get Rating) last announced its earnings results on Wednesday, April 19th. The semiconductor company reported $6.99 earnings per share for the quarter, topping the consensus estimate of $6.53 by $0.46. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.85 billion. Lam Research had a net margin of 26.08% and a return on equity of 66.54%. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $7.40 EPS. Analysts forecast that Lam Research Co. will post 33.22 EPS for the current fiscal year.

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

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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.