This repurchase authorization allows the semiconductor company to repurchase shares of its stock through open market purchases. Lam Research's revenue for the quarter was up 51.8% compared to the same quarter a year ago.
The stock increased 1.86% or $3.35 during the last trading session, reaching $183.88. About 3.63M shares traded or 52.17% up from the average.
Wall Street analysts, on average, are forecasting the company's EPS to be 3.68, compared to 2.24 reported in the same quarter past year. It has outperformed by 91.16% the S&P500. Analysts have a mean recommendation of 1.90 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range). Therefore 33% are positive. The average analysts gave this company a mean recommendation of 2.40. The company was maintained on Thursday, November 2 by KeyBanc Capital Markets. Finally, Needham & Company LLC reissued a "buy" rating and set a $200.00 target price on shares of Lam Research in a research note on Friday, September 1st. The firm has "Outperform" rating by Raymond James given on Wednesday, August 9. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). The company has market cap of $5.87 billion. The companyÂ's Healthcare Products segment offers steam, vaporized hydrogen peroxide, and ethylene oxide sterilizers, as well as liquid chemical sterilant processing systems; automated washer/disinfector systems; general and specialty surgical tables, surgical and examination lights, equipment management systems, operating room storage cabinets, warming cabinets, scrub sinks, and other accessories; and gastrointestinal devices and accessories. It has a 17.29 P/E ratio. If RVOL is less than 1 it is not In Play on this trading day and Investors may decide not to trade it. Its up 0.43, from 0.57 in 2017Q1. Covington Cap Mgmt reported 1,470 shares. Finally, Creative Planning boosted its stake in Lam Research by 45.5% in the first quarter. Schwab Charles Mngmt, a California-based fund reported 530,597 shares. Arrowstreet Capital Ltd Partnership owns 4,600 shares or 0% of their USA portfolio. Bkd Wealth Limited Liability reported 2,837 shares. (NYSE:VRX) to report earnings on February, 27. Commerzbank Aktiengesellschaft Fi reported 18,140 shares.
Several other institutional investors have also bought shares of the company. Victory Capital Inc accumulated 1,434 shares or 0% of the stock. Arizona State Retirement holds 40,028 shares. (NYSE:PM), stock is trading $123.55 above the 52-week high and has displayed a high EPS growth of -1.60% in last 5 years. About 76,409 shares traded. Steris Plc (NYSE:STE) has risen 7.97% since December 7, 2016 and is uptrending. It has underperformed by 11.20% the S&P500.
The market capitalization of Lam Research Corporation is at $29.59 Billion. Goldman Sachs upgraded Lam Research Corporation (NASDAQ:LRCX) on Monday, December 19 to "Buy" rating. The firm earned "Buy" rating on Monday, June 5 by UBS. Argus Research maintained the shares of LRCX in report on Thursday, October 19 with "Buy" rating. The stock of Lam Research Corporation (NASDAQ:LRCX) earned "Buy" rating by B. Riley & Co on Thursday, July 27. First Commercial Bank Of Omaha stated it has 0.02% of its portfolio in Lam Research Corporation (NASDAQ:LRCX).
Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. On Thursday, October 6 the stock rating was maintained by Citigroup with "Buy". Investors of record on Wednesday, December 6th will be issued a $0.50 dividend. Its up 0.15, from 1.03 in 2017Q1.
Carret Asset Management LLC increased its holdings in shares of Lam Research Co.
VANGUARD GROUP INC raised its stake in Lam Research Corporation (NASDAQ:LRCX) by 1.89% during the September 2017 quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 149.22 million shares or 7.19% less from 160.77 million shares in 2017Q1 were reported. This forecast is a point estimate that provides investors with a benchmark against which to directly compare stock price in the short run.Target prices made by analysts employed by large brokers, who have access to a greater resource pool, are more likely to be met over the 12-month forecast period.
Lam Research Corporation (LRCX) is expected to post revenue of $2.32 Billion in the current quarter, according to consensus of 17 analysts. Ssi Inv Inc holds 2,333 shares. The stock of Lam Research Corporation (NASDAQ:LRCX) earned "Buy" rating by Needham on Friday, June 16. Schroder Management has invested 0.04% of its portfolio in Chemed Corporation (NYSE:CHE).
Sun Life Fin reported 0.02% in Lam Research Corporation (NASDAQ:LRCX). Sensato Investors Llc, a California-based fund reported 144,761 shares. STATE STREET CORP owned 20.98% of Altria Group, Inc. Washington Trust Bancorporation holds 517 shares.
Analysts await Lam Research Corporation (NASDAQ:LRCX) to report earnings on January, 24. Blair William & Il reported 3,908 shares stake.
Asian stocks slipped on Wednesday, dragged by losses on Wall Street as the technology sector stuttered yet again after a brief rebound, while the dollar sagged on lower long-term USA yields.
Since June 12, 2017, it had 0 insider purchases, and 2 selling transactions for $1.82 million activity. Insiders have sold 71,688 shares of company stock worth $13,783,130 over the last 90 days. Shares for $430,320 were sold by LORD PATRICK J.