Lam Research (NASDAQ:LRCX) Price Target Increased to $1,050.00 by Analysts at Stifel Nicolaus

Lam Research (NASDAQ:LRCX) had its target price boosted by Stifel Nicolaus from $950.00 to $1,050.00 in a research note published on Tuesday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the semiconductor company’s stock.

LRCX has been the topic of a number of other research reports. TD Cowen boosted their price objective on Lam Research from $710.00 to $975.00 and gave the stock an outperform rating in a research note on Thursday, January 25th. Cantor Fitzgerald boosted their price objective on Lam Research from $900.00 to $1,100.00 and gave the stock a neutral rating in a research note on Monday, April 8th. Needham & Company LLC boosted their price objective on Lam Research from $800.00 to $900.00 and gave the stock a buy rating in a research note on Thursday, January 25th. Wells Fargo & Company boosted their price objective on Lam Research from $930.00 to $980.00 and gave the stock an equal weight rating in a research note on Tuesday, April 2nd. Finally, Evercore ISI started coverage on Lam Research in a research note on Tuesday. They issued an outperform rating and a $1,200.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $875.55.

Lam Research Price Performance

Lam Research stock opened at $963.23 on Tuesday. The stock has a market capitalization of $126.28 billion, a P/E ratio of 37.25, a P/E/G ratio of 3.47 and a beta of 1.51. Lam Research has a 12-month low of $482.74 and a 12-month high of $1,007.39. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02. The firm’s 50-day moving average is $944.50 and its two-hundred day moving average is $796.73.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.06 by $0.46. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The firm had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same quarter last year, the business earned $10.71 earnings per share. Lam Research’s revenue was down 28.8% compared to the same quarter last year. Equities analysts predict that Lam Research will post 28.9 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 0.83%. The ex-dividend date was Tuesday, March 12th. Lam Research’s dividend payout ratio is currently 30.94%.

Insider Activity at Lam Research

In other news, CAO Christina Corrreia sold 647 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of the transaction, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Christina Corrreia sold 647 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of the transaction, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Abhijit Y. Talwalkar sold 882 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $857,330.46. Following the transaction, the director now directly owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The disclosure for this sale can be found here. Insiders sold a total of 7,029 shares of company stock valued at $6,559,489 over the last three months. 0.32% of the stock is owned by insiders.

Hedge Funds Weigh In On Lam Research

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blue Whale Capital LLP lifted its position in shares of Lam Research by 0.7% during the 3rd quarter. Blue Whale Capital LLP now owns 112,300 shares of the semiconductor company’s stock valued at $70,386,000 after acquiring an additional 800 shares during the last quarter. Everence Capital Management Inc. lifted its position in shares of Lam Research by 54.7% during the 4th quarter. Everence Capital Management Inc. now owns 4,073 shares of the semiconductor company’s stock valued at $3,190,000 after acquiring an additional 1,440 shares during the last quarter. Gradient Investments LLC lifted its position in shares of Lam Research by 32,411.1% during the 4th quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock valued at $11,459,000 after acquiring an additional 14,585 shares during the last quarter. Contravisory Investment Management Inc. acquired a new stake in shares of Lam Research during the 4th quarter valued at $7,930,000. Finally, Treasurer of the State of North Carolina lifted its position in shares of Lam Research by 0.9% during the 3rd quarter. Treasurer of the State of North Carolina now owns 63,809 shares of the semiconductor company’s stock valued at $39,994,000 after acquiring an additional 560 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

About Lam Research

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.