Lam Research (NASDAQ:LRCX) Trading Up 8.3% Following Better-Than-Expected Earnings

Lam Research Co. (NASDAQ:LRCXGet Free Report)’s share price shot up 8.3% on Thursday following a better than expected earnings announcement. The company traded as high as $81.28 and last traded at $81.36. 11,872,303 shares changed hands during trading, a decline of 1% from the average session volume of 11,942,322 shares. The stock had previously closed at $75.15.

The semiconductor company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 50.60% and a net margin of 26.02%.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.14%. Lam Research’s dividend payout ratio is presently 29.74%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Morgan Stanley raised their price target on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. The Goldman Sachs Group decreased their price target on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target on the stock in a report on Friday, January 17th. Finally, Barclays decreased their price target on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and an average price target of $95.72.

Get Our Latest Report on Lam Research

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parisi Gray Wealth Management grew its position in Lam Research by 652.9% in the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock worth $603,000 after acquiring an additional 7,241 shares in the last quarter. Burns J W & Co. Inc. NY purchased a new position in shares of Lam Research during the fourth quarter valued at approximately $815,000. Jennison Associates LLC boosted its position in shares of Lam Research by 20.0% during the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock valued at $194,451,000 after buying an additional 39,725 shares during the period. Creative Planning boosted its position in shares of Lam Research by 2.5% during the third quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock valued at $38,664,000 after buying an additional 1,146 shares during the period. Finally, Vest Financial LLC boosted its position in shares of Lam Research by 68.7% during the third quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock valued at $29,372,000 after buying an additional 14,658 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Up 7.4 %

The company has a 50-day simple moving average of $75.72 and a 200-day simple moving average of $78.93. The firm has a market cap of $103.87 billion, a PE ratio of 26.09, a price-to-earnings-growth ratio of 1.53 and a beta of 1.45. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74.

About Lam Research

(Get Free Report)

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.

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