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

Lam Research Co. (NASDAQ:LRCX) declared a quarterly dividend on Thursday, February 6th,RTT News reports. Shareholders 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 dividend on an annualized basis and a yield of 1.11%.

Lam Research has raised its dividend payment by an average of 15.4% annually over the last three years. Lam Research has a dividend payout ratio of 23.7% meaning its dividend is sufficiently covered by earnings. Equities research 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 Trading Up 1.1 %

NASDAQ LRCX opened at $82.83 on Friday. The stock has a market capitalization of $106.58 billion, a price-to-earnings ratio of 25.16, a PEG ratio of 1.34 and a beta of 1.46. The business’s fifty day moving average is $76.53 and its 200-day moving average is $78.26. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research has a one year low of $68.87 and a one year high of $113.00.

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LRCX. Mizuho lowered their target price on Lam Research from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. B. Riley lowered their price objective on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price for the company in a research report on Friday, January 17th. Wells Fargo & Company boosted their price target 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, January 30th. Finally, Barclays cut their price objective on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and an average price target 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.