Lam Research (NASDAQ:LRCX) PT Raised to $950.00 at JPMorgan Chase & Co.

Lam Research (NASDAQ:LRCX) had its price target lifted by JPMorgan Chase & Co. from $900.00 to $950.00 in a report published on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the semiconductor company’s stock.

Several other research firms have also recently issued reports on LRCX. Raymond James lifted their price objective on shares of Lam Research from $850.00 to $950.00 and gave the stock an outperform rating in a research report on Thursday, January 25th. Deutsche Bank Aktiengesellschaft started coverage on shares of Lam Research in a research report on Thursday, April 11th. They issued a hold rating and a $1,000.00 price target for the company. Stifel Nicolaus boosted their price target on shares of Lam Research from $950.00 to $1,050.00 and gave the company a buy rating in a research report on Tuesday, April 16th. Wells Fargo & Company boosted their price target on shares of Lam Research from $930.00 to $980.00 and gave the company an equal weight rating in a research report on Tuesday, April 2nd. Finally, The Goldman Sachs Group boosted their price target on shares of Lam Research from $700.00 to $912.00 and gave the company a buy rating in a research report on Thursday, January 25th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $950.85.

Lam Research Stock Performance

Shares of LRCX stock opened at $925.37 on Thursday. The stock has a market capitalization of $121.32 billion, a PE ratio of 34.03, a P/E/G ratio of 3.29 and a beta of 1.51. The firm has a 50 day moving average of $943.67 and a two-hundred day moving average of $811.51. Lam Research has a 52 week low of $493.42 and a 52 week high of $1,007.39. The company has a quick ratio of 2.02, a current ratio of 2.82 and a debt-to-equity ratio of 0.56.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.26 by $0.53. The business had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $6.99 EPS. On average, research analysts predict that Lam Research will post 29.54 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were paid a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a yield of 0.86%. Lam Research’s dividend payout ratio is presently 29.42%.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the transaction, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the transaction, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $628,903.41. Following the transaction, the chief accounting officer now owns 5,541 shares in the company, valued at $5,386,018.23. The disclosure for this sale can be found here. Insiders have sold a total of 7,029 shares of company stock worth $6,559,489 over the last ninety days. 0.32% of the stock is currently owned by company insiders.

Institutional Trading of Lam Research

A number of institutional investors have recently added to or reduced their stakes in LRCX. Norges Bank purchased a new stake in Lam Research during the fourth quarter worth about $1,414,111,000. International Assets Investment Management LLC boosted its holdings in Lam Research by 76,165.7% during the fourth quarter. International Assets Investment Management LLC now owns 318,028 shares of the semiconductor company’s stock worth $249,099,000 after buying an additional 317,611 shares in the last quarter. Cerity Partners LLC boosted its holdings in Lam Research by 1,125.6% during the fourth quarter. Cerity Partners LLC now owns 342,139 shares of the semiconductor company’s stock worth $267,984,000 after buying an additional 314,224 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Lam Research by 10.8% during the third quarter. Bank of New York Mellon Corp now owns 1,642,367 shares of the semiconductor company’s stock worth $1,029,386,000 after buying an additional 159,815 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in Lam Research by 106.5% during the third quarter. Canada Pension Plan Investment Board now owns 301,071 shares of the semiconductor company’s stock worth $188,702,000 after buying an additional 155,240 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

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.