Lam Research (NASDAQ:LRCX) Stock Price Up 8.3% After Earnings Beat

Lam Research Co. (NASDAQ:LRCX)’s stock price shot up 8.3% on Thursday following a stronger than expected earnings report. The company traded as high as $81.28 and last traded at $81.36. 11,872,303 shares were traded during mid-day 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 52.58%.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is currently 27.95%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. B. Riley decreased their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 target price on shares of Lam Research in a research report on Thursday. Wells Fargo & Company raised their target price on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday. Cantor Fitzgerald raised shares of Lam Research from a “neutral” rating to an “overweight” rating and raised their target price for the company from $95.00 to $100.00 in a research report on Thursday. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $100.00 price objective (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $95.72.

Institutional Trading of Lam Research

A number of hedge funds have recently modified their holdings of LRCX. American National Bank & Trust raised its stake in Lam Research by 34.0% in the 3rd quarter. American National Bank & Trust now owns 288 shares of the semiconductor company’s stock worth $235,000 after purchasing an additional 73 shares in the last quarter. Cypress Capital Group raised its stake in Lam Research by 3.7% in the 3rd quarter. Cypress Capital Group now owns 3,660 shares of the semiconductor company’s stock worth $2,987,000 after purchasing an additional 132 shares in the last quarter. Savvy Advisors Inc. raised its stake in Lam Research by 58.3% in the 3rd quarter. Savvy Advisors Inc. now owns 364 shares of the semiconductor company’s stock worth $297,000 after purchasing an additional 134 shares in the last quarter. West Oak Capital LLC raised its stake in Lam Research by 50.9% in the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 135 shares in the last quarter. Finally, Baldwin Investment Management LLC raised its stake in Lam Research by 1.4% in the 3rd quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company’s stock worth $8,364,000 after purchasing an additional 137 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Up 0.4 %

The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The firm’s 50 day simple moving average is $75.88 and its two-hundred day simple moving average is $78.94. The firm has a market cap of $104.29 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 1.38 and a beta of 1.45.

About Lam Research

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.