Lam Research (NASDAQ:LRCX) Price Target Raised to $865.00

Lam Research (NASDAQ:LRCX) had its target price raised by Barclays from $825.00 to $865.00 in a research report released on Thursday, Benzinga reports. They currently have an equal weight rating on the semiconductor company’s stock.

Several other research firms also recently weighed in on LRCX. JPMorgan Chase & Co. boosted their target price on shares of Lam Research from $900.00 to $950.00 and gave the stock an overweight rating in a research report on Thursday. Needham & Company LLC reissued a buy rating and issued a $1,030.00 target price on shares of Lam Research in a research report on Thursday. Raymond James boosted their price objective on shares of Lam Research from $850.00 to $950.00 and gave the company an outperform rating in a research report on Thursday, January 25th. Evercore ISI began coverage on shares of Lam Research in a research report on Tuesday, April 16th. They set an outperform rating and a $1,200.00 price objective for the company. Finally, Cantor Fitzgerald reaffirmed a neutral rating and set a $1,100.00 price objective on shares of Lam Research in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Lam Research 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 company’s fifty day moving average price is $943.67 and its two-hundred day moving average price is $811.51. The firm has a market capitalization of $121.32 billion, a P/E ratio of 34.03, a P/E/G ratio of 3.29 and a beta of 1.51. Lam Research has a 12 month low of $493.42 and a 12 month high of $1,007.39. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 2.02.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, topping the consensus estimate of $7.26 by $0.53. The company had revenue of $3.79 billion during the quarter, compared to the consensus estimate 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 was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.99 EPS. On average, research analysts anticipate that Lam Research will post 29.54 earnings per share for the current fiscal year.

Lam Research Announces Dividend

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

Insider Transactions at Lam Research

In other news, 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 completion of the sale, the director now directly owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, 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 completion of the sale, the director now directly owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the sale, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The disclosure for this sale can be found here. In the last three months, insiders sold 7,029 shares of company stock valued at $6,559,489. Company insiders own 0.32% of the company’s stock.

Institutional Trading of Lam Research

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Lam Research in the 4th quarter valued at approximately $1,414,111,000. International Assets Investment Management LLC lifted its position in shares of Lam Research by 76,165.7% in the 4th quarter. International Assets Investment Management LLC now owns 318,028 shares of the semiconductor company’s stock valued at $249,099,000 after acquiring an additional 317,611 shares in the last quarter. Cerity Partners LLC lifted its position in shares of Lam Research by 1,125.6% in the 4th quarter. Cerity Partners LLC now owns 342,139 shares of the semiconductor company’s stock valued at $267,984,000 after acquiring an additional 314,224 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Lam Research by 10.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,642,367 shares of the semiconductor company’s stock valued at $1,029,386,000 after acquiring an additional 159,815 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Lam Research by 106.5% in the 3rd quarter. Canada Pension Plan Investment Board now owns 301,071 shares of the semiconductor company’s stock valued at $188,702,000 after acquiring an additional 155,240 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

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.