Lam Research Corporation (NASDAQ:LRCX) – DA Davidson boosted their Q1 2018 earnings per share (EPS) estimates for Lam Research Corporation in a report released on Thursday. DA Davidson analyst T. Diffely now forecasts that the semiconductor company will earn $3.25 per share for the quarter, up from their previous forecast of $2.60. DA Davidson currently has a “Buy” rating and a $175.00 target price on the stock. DA Davidson also issued estimates for Lam Research Corporation’s Q2 2018 earnings at $2.65 EPS, FY2018 earnings at $12.00 EPS, Q1 2019 earnings at $3.35 EPS and Q2 2019 earnings at $2.95 EPS.
LRCX has been the subject of several other research reports. Stifel Nicolaus reiterated a “buy” rating and issued a $150.00 target price on shares of Lam Research Corporation in a research report on Monday, April 17th. BidaskClub downgraded Lam Research Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. KeyCorp reissued an “overweight” rating on shares of Lam Research Corporation in a report on Thursday, July 27th. Pacific Crest reissued an “overweight” rating and issued a $180.00 price target (up previously from $163.00) on shares of Lam Research Corporation in a report on Saturday, April 22nd. Finally, Berenberg Bank reissued a “buy” rating on shares of Lam Research Corporation in a report on Sunday. Two equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $173.88.
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Lam Research Corporation (NASDAQ LRCX) traded down 3.49% during midday trading on Monday, hitting $151.96. The stock had a trading volume of 3,547,478 shares. The firm has a market cap of $24.58 billion, a PE ratio of 16.45 and a beta of 1.46. Lam Research Corporation has a one year low of $88.13 and a one year high of $170.00. The stock has a 50-day moving average price of $153.65 and a 200 day moving average price of $137.56.
Lam Research Corporation (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.02 by $0.09. Lam Research Corporation had a return on equity of 26.95% and a net margin of 21.19%. The business had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the prior year, the business earned $1.80 earnings per share. The company’s quarterly revenue was up 51.6% compared to the same quarter last year.
Hedge funds have recently bought and sold shares of the company. Rhumbline Advisers increased its stake in Lam Research Corporation by 3.2% in the second quarter. Rhumbline Advisers now owns 324,010 shares of the semiconductor company’s stock worth $45,825,000 after buying an additional 10,121 shares in the last quarter. BTC Capital Management Inc. increased its stake in Lam Research Corporation by 0.9% in the second quarter. BTC Capital Management Inc. now owns 31,341 shares of the semiconductor company’s stock worth $4,434,000 after buying an additional 268 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in Lam Research Corporation by 28.7% in the second quarter. DekaBank Deutsche Girozentrale now owns 202,637 shares of the semiconductor company’s stock worth $28,916,000 after buying an additional 45,132 shares in the last quarter. First Trust Advisors LP increased its stake in Lam Research Corporation by 1.6% in the second quarter. First Trust Advisors LP now owns 749,276 shares of the semiconductor company’s stock worth $105,970,000 after buying an additional 12,001 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Lam Research Corporation during the second quarter worth approximately $134,000. 99.69% of the stock is currently owned by institutional investors.
In other news, COO Timothy Archer sold 6,897 shares of the business’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $160.50, for a total value of $1,106,968.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Stephen G. Newberry sold 20,047 shares of the business’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $150.01, for a total value of $3,007,250.47. The disclosure for this sale can be found here. Insiders sold a total of 51,656 shares of company stock worth $7,925,366 in the last three months. Company insiders own 0.46% of the company’s stock.
Lam Research Corporation 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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