Lam Research Shares Rise as Earnings Beat Expectations and Dividend Hikes

Lam Research (LRCX) stock saw a 1.4% increase on Wednesday, closing at $328.51. The company's quarterly dividend was raised from $0.26 to $0.33 per share.

The semiconductor equipment maker beat Q4 estimates with earnings of $1.82 per share and revenue of $6.72 billion, a 30% year-over-year increase.

Analysts hold a 'Moderate Buy' consensus rating with an average price target of $361.81, implying room for the stock to grow from current levels.