Lam Research Co. (NASDAQ:LRCX – Get Rating) – Research analysts at KeyCorp boosted their Q1 2023 earnings per share estimates for Lam Research in a report issued on Wednesday, July 27th. KeyCorp analyst S. Barger now anticipates that the semiconductor company will post earnings per share of $9.66 for the quarter, up from their prior estimate of $8.48. The consensus estimate for Lam Research’s current full-year earnings is $31.61 per share. KeyCorp also issued estimates for Lam Research’s Q2 2023 earnings at $9.35 EPS, Q3 2023 earnings at $8.72 EPS, Q4 2023 earnings at $8.42 EPS and FY2023 earnings at $36.14 EPS.
Several other analysts also recently commented on the stock. Citigroup reduced their target price on shares of Lam Research from $720.00 to $700.00 in a report on Thursday. Bank of America decreased their target price on Lam Research from $650.00 to $540.00 and set a “buy” rating on the stock in a research report on Wednesday, June 29th. DA Davidson dropped their price target on Lam Research from $575.00 to $550.00 in a report on Thursday. Mizuho decreased their price objective on Lam Research from $675.00 to $650.00 and set a “maintains” rating on the stock in a report on Thursday. Finally, The Goldman Sachs Group lifted their target price on Lam Research from $448.00 to $504.00 and gave the stock a “buy” rating in a report on Thursday. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $612.18.
Lam Research Price Performance
Lam Research (NASDAQ:LRCX – Get Rating) last issued its earnings results on Wednesday, July 27th. The semiconductor company reported $8.83 EPS for the quarter, topping the consensus estimate of $7.30 by $1.53. Lam Research had a return on equity of 75.51% and a net margin of 27.13%. The company had revenue of $4.64 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same period in the previous year, the company posted $8.09 EPS. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year.
Lam Research Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 6th. Shareholders of record on Wednesday, June 15th were issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Tuesday, June 14th. Lam Research’s dividend payout ratio is presently 18.76%.
Institutional Trading of Lam Research
Several large investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Lam Research in the 4th quarter valued at approximately $1,005,096,000. Coatue Management LLC lifted its stake in Lam Research by 110.9% in the 4th quarter. Coatue Management LLC now owns 860,025 shares of the semiconductor company’s stock valued at $618,487,000 after purchasing an additional 452,154 shares during the last quarter. 1832 Asset Management L.P. lifted its stake in Lam Research by 229.7% in the 4th quarter. 1832 Asset Management L.P. now owns 414,564 shares of the semiconductor company’s stock valued at $300,852,000 after purchasing an additional 288,808 shares during the last quarter. Invesco Ltd. boosted its position in Lam Research by 43.6% in the first quarter. Invesco Ltd. now owns 919,096 shares of the semiconductor company’s stock valued at $494,117,000 after buying an additional 279,193 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Lam Research by 38.1% during the first quarter. Van ECK Associates Corp now owns 953,874 shares of the semiconductor company’s stock worth $512,812,000 after buying an additional 263,364 shares during the last quarter. 82.34% of the stock is owned by institutional investors and hedge funds.
Lam Research Company Profile
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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