Lam Research (NASDAQ:LRCX) Receives New Coverage from Analysts at Stifel Nicolaus

Stifel Nicolaus started coverage on shares of Lam Research (NASDAQ:LRCX – Get Rating) in a report issued on Tuesday morning, The Fly reports. The brokerage issued a hold rating on the semiconductor company’s stock.

Several other analysts have also commented on the stock. Sanford C. Bernstein cut their target price on shares of Lam Research to $425.00 in a research note on Thursday, October 20th. JPMorgan Chase & Co. cut their target price on shares of Lam Research from $640.00 to $515.00 and set an overweight rating for the company in a research note on Thursday, October 20th. Barclays cut their target price on shares of Lam Research from $405.00 to $300.00 and set an equal weight rating for the company in a research note on Thursday, October 13th. Berenberg Bank cut their target price on shares of Lam Research from $570.00 to $470.00 and set a buy rating for the company in a research note on Friday, October 14th. Finally, Summit Insights upgraded shares of Lam Research from a hold rating to a buy rating in a report on Thursday, October 20th. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $497.59.

Lam Research Trading Down 0.6 %

Shares of NASDAQ:LRCX opened at $470.99 on Tuesday. The company has a 50 day moving average of $449.14 and a 200-day moving average of $433.32. The firm has a market cap of $64.23 billion, a P/E ratio of 13.51, a P/E/G ratio of 1.93 and a beta of 1.42. Lam Research has a twelve month low of $299.59 and a twelve month high of $717.40. The company has a current ratio of 2.69, a quick ratio of 1.83 and a debt-to-equity ratio of 0.67.

Lam Research (NASDAQ:LRCX – Get Rating) last issued its quarterly earnings results on Wednesday, October 19th. The semiconductor company reported $10.42 earnings per share for the quarter, topping analysts’ consensus estimates of $9.54 by $0.88. Lam Research had a net margin of 26.96% and a return on equity of 74.74%. The company had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.91 billion. During the same period in the prior year, the business posted $8.36 EPS. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. As a group, analysts anticipate that Lam Research will post 34.61 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 4th. Stockholders of record on Wednesday, December 14th were paid a dividend of $1.725 per share. The ex-dividend date of this dividend was Tuesday, December 13th. This represents a $6.90 annualized dividend and a dividend yield of 1.46%. Lam Research’s dividend payout ratio (DPR) is 19.79%.

Insider Transactions at Lam Research

In other news, EVP Richard A. Gottscho sold 3,540 shares of the stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $450.00, for a total transaction of $1,593,000.00. Following the transaction, the executive vice president now owns 26,672 shares in the company, valued at approximately $12,002,400. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Abhijit Y. Talwalkar sold 880 shares of the stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $429.72, for a total transaction of $378,153.60. Following the transaction, the director now owns 14,762 shares in the company, valued at approximately $6,343,526.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Richard A. Gottscho sold 3,540 shares of the company’s stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $450.00, for a total transaction of $1,593,000.00. Following the sale, the executive vice president now directly owns 26,672 shares of the company’s stock, valued at $12,002,400. The disclosure for this sale can be found here. Insiders have sold a total of 4,420 shares of company stock worth $1,971,154 in the last 90 days. 0.35% of the stock is owned by insiders.

Institutional Trading of Lam Research

Several large investors have recently modified their holdings of the company. Sands Capital Management LLC boosted its holdings in shares of Lam Research by 27.7% during the 3rd quarter. Sands Capital Management LLC now owns 2,396,878 shares of the semiconductor company’s stock worth $877,257,000 after buying an additional 519,679 shares during the period. Fisher Asset Management LLC boosted its holdings in Lam Research by 13.8% in the 3rd quarter. Fisher Asset Management LLC now owns 2,268,753 shares of the semiconductor company’s stock valued at $830,364,000 after purchasing an additional 275,864 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Lam Research by 345.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,224,808 shares of the semiconductor company’s stock valued at $521,952,000 after purchasing an additional 949,749 shares during the period. Amundi boosted its holdings in Lam Research by 3.7% in the 2nd quarter. Amundi now owns 1,211,060 shares of the semiconductor company’s stock valued at $509,336,000 after purchasing an additional 42,874 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in Lam Research by 6.2% in the 3rd quarter. Van ECK Associates Corp now owns 1,140,329 shares of the semiconductor company’s stock valued at $417,360,000 after purchasing an additional 66,847 shares during the period. 81.60% of the stock is owned by institutional investors.

About Lam Research

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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.