Lam Research Co. Announces Quarterly Dividend of $0.23 (NASDAQ:LRCX)

Lam Research Co. (NASDAQ:LRCX) announced a quarterly dividend on Thursday, February 6th,RTT News reports. Stockholders of record on Wednesday, March 5th will be paid a dividend of 0.23 per share by the semiconductor company on Wednesday, April 9th. This represents a $0.92 annualized dividend and a dividend yield of 1.11%.

Lam Research has increased its dividend by an average of 15.4% annually over the last three years. Lam Research has a payout ratio of 23.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Lam Research to earn $3.79 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 24.3%.

Lam Research Stock Up 1.1 %

Shares of Lam Research stock traded up $0.89 during midday trading on Thursday, hitting $82.83. The company’s stock had a trading volume of 9,772,634 shares, compared to its average volume of 12,675,440. The firm has a market capitalization of $106.58 billion, a P/E ratio of 25.16, a PEG ratio of 1.34 and a beta of 1.46. The stock has a 50-day simple moving average of $76.53 and a 200-day simple moving average of $78.26. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. Lam Research has a 1-year low of $68.87 and a 1-year high of $113.00.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. As a group, sell-side analysts expect that Lam Research will post 3.69 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on LRCX shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of Lam Research in a research report on Thursday, January 30th. BNP Paribas upgraded Lam Research to a “hold” rating in a research note on Thursday, October 24th. The Goldman Sachs Group dropped their price objective on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Morgan Stanley lifted their price objective on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Finally, KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target on the stock in a research note on Friday, January 17th. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $95.72.

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.