Lam Research (NASDAQ:LRCX) announced a quarterly dividend on Thursday, May 17th, RTT News reports. Stockholders of record on Wednesday, June 6th will be paid a dividend of 1.10 per share by the semiconductor company on Wednesday, June 27th. This represents a $4.40 annualized dividend and a dividend yield of 2.16%. This is a positive change from Lam Research’s previous quarterly dividend of $0.50.
Shares of LRCX opened at $203.33 on Friday. Lam Research has a fifty-two week low of $202.00 and a fifty-two week high of $208.20. The company has a market capitalization of $33.94 billion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 0.67 and a beta of 1.41. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.64 and a quick ratio of 2.21.
Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Tuesday, April 17th. The semiconductor company reported $4.79 earnings per share for the quarter, topping the consensus estimate of $4.38 by $0.41. Lam Research had a net margin of 18.32% and a return on equity of 41.13%. The firm had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter in the prior year, the company earned $3.10 EPS. The company’s revenue was up 34.3% compared to the same quarter last year. equities analysts expect that Lam Research will post 17.54 EPS for the current year.
Lam Research announced that its Board of Directors has authorized a stock repurchase program on Tuesday, March 6th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the semiconductor company to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
Several brokerages have recently weighed in on LRCX. Stifel Nicolaus upped their price target on shares of Lam Research from $235.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. ValuEngine raised shares of Lam Research from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Citigroup raised shares of Lam Research from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $234.88 to $200.00 in a research report on Monday. Morgan Stanley upped their price target on shares of Lam Research from $229.00 to $238.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Finally, JPMorgan Chase increased their target price on shares of Lam Research from $230.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. Two research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $257.06.
In other Lam Research news, SVP Sarah A. O’dowd sold 1,835 shares of the firm’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $212.64, for a total value of $390,194.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Timothy Archer sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 1st. The stock was sold at an average price of $190.00, for a total transaction of $950,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,148 shares of company stock valued at $16,952,340. Corporate insiders own 0.41% of the company’s stock.
Lam Research Company Profile
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers thin film deposition products, including SABRE electrochemical deposition products for copper damascene manufacturing; ALTUS systems to deposit conformal atomic layer films for tungsten metallization applications; VECTOR plasma-enhanced chemical vapor deposition (CVD) and atomic layer deposition systems to deposit oxides, nitrides, and carbides for hardmasks, multiple patterning films, anti-reflective layers, multi-layer stack films, and diffusion barriers; and Striker atomic layer deposition systems that deliver conformal dielectric films for spacer-based patterning and liner applications in various advanced memory and logic structures.
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