Lam Research (NASDAQ:LRCX) PT Raised to $1,150.00 at UBS Group

Lam Research (NASDAQ:LRCX) had its target price boosted by UBS Group from $1,130.00 to $1,150.00 in a research note published on Thursday morning, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Several other equities research analysts have also recently issued reports on the stock. Barclays lifted their price objective on shares of Lam Research from $750.00 to $825.00 and gave the company an equal weight rating in a research report on Thursday, January 25th. TD Cowen lifted their price target on shares of Lam Research from $975.00 to $1,000.00 and gave the company a buy rating in a report on Thursday. Stifel Nicolaus increased their price objective on shares of Lam Research from $950.00 to $1,050.00 and gave the company a buy rating in a report on Tuesday, April 16th. Needham & Company LLC reaffirmed a buy rating and issued a $1,030.00 target price on shares of Lam Research in a report on Thursday. Finally, Evercore ISI assumed coverage on Lam Research in a research note on Tuesday, April 16th. They set an outperform rating and a $1,200.00 price target for the company. Six 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 has a consensus rating of Moderate Buy and an average target price of $950.85.

Lam Research Stock Up 2.7 %

Shares of LRCX stock opened at $925.37 on Thursday. The company has a market capitalization of $121.32 billion, a price-to-earnings ratio of 34.03, a PEG ratio of 3.29 and a beta of 1.51. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 2.02. The company’s fifty day moving average price is $943.67 and its 200-day moving average price is $811.51. Lam Research has a one year low of $493.42 and a one year high of $1,007.39.

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

Lam Research Dividend Announcement

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

Insider Transactions at Lam Research

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

Institutional Trading of Lam Research

A number of hedge funds have recently added to or reduced their stakes in LRCX. Arlington Trust Co LLC lifted its position in shares of Lam Research by 7.7% during the fourth quarter. Arlington Trust Co LLC now owns 182 shares of the semiconductor company’s stock valued at $143,000 after buying an additional 13 shares during the last quarter. Capital Performance Advisors LLP lifted its position in Lam Research by 2.2% during the fourth quarter. Capital Performance Advisors LLP now owns 613 shares of the semiconductor company’s stock valued at $480,000 after acquiring an additional 13 shares during the last quarter. Van Leeuwen & Company LLC boosted its stake in Lam Research by 0.5% in the fourth quarter. Van Leeuwen & Company LLC now owns 2,583 shares of the semiconductor company’s stock valued at $2,023,000 after acquiring an additional 13 shares in the last quarter. Busey Bank grew its holdings in Lam Research by 1.5% in the first quarter. Busey Bank now owns 869 shares of the semiconductor company’s stock worth $844,000 after purchasing an additional 13 shares during the last quarter. Finally, First Affirmative Financial Network increased its position in shares of Lam Research by 2.5% during the first quarter. First Affirmative Financial Network now owns 525 shares of the semiconductor company’s stock worth $510,000 after purchasing an additional 13 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other 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.