Lam Research (LRCX) Upgraded at UBS Group
UBS Group upgraded shares of Lam Research (NASDAQ:LRCX) from a neutral rating to a positive rating in a report issued on Tuesday, The Fly reports.
Other equities analysts also recently issued research reports about the company. Needham & Company LLC reiterated a buy rating and set a $220.00 price target (up previously from $200.00) on shares of Lam Research in a research report on Friday, October 13th. DA Davidson restated a buy rating and issued a $215.00 target price on shares of Lam Research in a research report on Thursday, October 12th. KeyCorp restated a buy rating and issued a $225.00 target price (up previously from $202.00) on shares of Lam Research in a research report on Wednesday, October 18th. Stifel Nicolaus raised their target price on Lam Research from $215.00 to $235.00 and gave the company a buy rating in a research report on Wednesday, October 18th. Finally, B. Riley raised their target price on Lam Research from $220.00 to $250.00 and gave the company a buy rating in a research report on Monday, October 16th. Two investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $220.80.
Shares of Lam Research (NASDAQ LRCX) traded up $2.08 during mid-day trading on Tuesday, reaching $207.53. The company’s stock had a trading volume of 2,611,086 shares, compared to its average volume of 2,960,000. The stock has a market capitalization of $33,950.00, a P/E ratio of 18.95, a P/E/G ratio of 0.94 and a beta of 1.57. The company has a quick ratio of 2.83, a current ratio of 3.31 and a debt-to-equity ratio of 0.24. Lam Research has a 52 week low of $111.34 and a 52 week high of $219.70.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Wednesday, December 6th were paid a dividend of $0.50 per share. This is a boost from Lam Research’s previous quarterly dividend of $0.45. The ex-dividend date was Tuesday, December 5th. This represents a $2.00 annualized dividend and a yield of 0.96%. Lam Research’s dividend payout ratio (DPR) is 18.26%.
Lam Research announced that its board has initiated a stock repurchase program on Tuesday, November 14th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the semiconductor company to buy shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
In other Lam Research news, VP Patrick J. Lord sold 264 shares of the firm’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $216.08, for a total transaction of $57,045.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael R. Cannon sold 9,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $212.43, for a total value of $1,911,870.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,269 shares of company stock valued at $6,615,633. 0.41% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of LRCX. Schroder Investment Management Group grew its stake in shares of Lam Research by 63.3% in the second quarter. Schroder Investment Management Group now owns 21,013 shares of the semiconductor company’s stock valued at $2,991,000 after buying an additional 8,144 shares in the last quarter. BT Investment Management Ltd acquired a new stake in shares of Lam Research in the second quarter valued at $2,135,000. Westfield Capital Management Co. LP grew its stake in shares of Lam Research by 35.1% in the second quarter. Westfield Capital Management Co. LP now owns 154,911 shares of the semiconductor company’s stock valued at $21,909,000 after buying an additional 40,276 shares in the last quarter. New York State Common Retirement Fund grew its stake in shares of Lam Research by 11.1% in the second quarter. New York State Common Retirement Fund now owns 449,848 shares of the semiconductor company’s stock valued at $63,622,000 after buying an additional 44,841 shares in the last quarter. Finally, Mutual of America Capital Management LLC grew its stake in shares of Lam Research by 3.6% in the second quarter. Mutual of America Capital Management LLC now owns 37,378 shares of the semiconductor company’s stock valued at $5,286,000 after buying an additional 1,302 shares in the last quarter. 93.45% of the stock is owned by institutional investors.
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Lam Research Company Profile
Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.
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