Lam Research (NASDAQ:LRCX) Price Target Raised to $1,025.00 at Citigroup

Lam Research (NASDAQ:LRCX) had its price target upped by Citigroup from $975.00 to $1,025.00 in a research note released on Thursday, Benzinga reports. Citigroup currently has a buy rating on the semiconductor company’s stock.

A number of other research firms have also issued reports on LRCX. Barclays raised their price target on shares of Lam Research from $825.00 to $865.00 and gave the stock an equal weight rating in a research report on Thursday. Wells Fargo & Company upped their price target on shares of Lam Research from $930.00 to $980.00 and gave the company an equal weight rating in a report on Tuesday, April 2nd. The Goldman Sachs Group lifted their price objective on Lam Research from $700.00 to $912.00 and gave the company a buy rating in a research note on Thursday, January 25th. Stifel Nicolaus raised their target price on Lam Research from $950.00 to $1,050.00 and gave the stock a buy rating in a report on Tuesday, April 16th. Finally, Needham & Company LLC reissued a buy rating and issued a $1,030.00 price target on shares of Lam Research in a report on Thursday. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Lam Research presently has a consensus rating of Moderate Buy and an average target price of $950.85.

Lam Research Stock Performance

Shares of Lam Research stock opened at $925.37 on Thursday. The firm has a market capitalization of $121.32 billion, a P/E ratio of 34.03, a PEG ratio of 2.88 and a beta of 1.51. 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 1.84, a current ratio of 2.82 and a debt-to-equity ratio of 0.56. The company has a 50 day moving average price of $943.67 and a 200 day moving average price of $811.51.

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

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were issued 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 (DPR) is presently 29.42%.

Insider Activity at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction dated 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 approximately $20,380,648.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $922.41, for a total value 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 value 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. Insiders have sold a total of 7,029 shares of company stock valued at $6,559,489 over the last 90 days. 0.32% of the stock is owned by corporate insiders.

Institutional Trading of Lam Research

Large investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in Lam Research during the 4th quarter worth approximately $1,414,111,000. International Assets Investment Management LLC grew its position in 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 buying an additional 317,611 shares during the last quarter. Cerity Partners LLC increased its stake in 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 buying an additional 314,224 shares during the period. Bank of New York Mellon Corp raised its position in Lam Research by 10.8% during the 3rd 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 during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake 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 worth $188,702,000 after acquiring an additional 155,240 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

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.