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

Lam Research (NASDAQ:LRCX) had its target price increased by Barclays from $825.00 to $865.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has an equal weight rating on the semiconductor company’s stock.

A number of other equities research analysts also recently weighed in on LRCX. JPMorgan Chase & Co. raised their price target on shares of Lam Research from $900.00 to $950.00 and gave the company an overweight rating in a research note on Thursday. Wells Fargo & Company raised 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 note on Tuesday, April 2nd. Raymond James raised their price target on shares of Lam Research from $850.00 to $950.00 and gave the company an outperform rating in a research note on Thursday, January 25th. The Goldman Sachs Group raised their price target on shares of Lam Research from $700.00 to $912.00 and gave the company a buy rating in a research note on Thursday, January 25th. Finally, Citigroup raised their price objective on shares of Lam Research from $800.00 to $975.00 and gave the company a buy rating in a report on Thursday, January 25th. Six 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, the company has a consensus rating of Moderate Buy and an average target price of $950.85.

Lam Research Trading Up 2.7 %

Shares of Lam Research 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 quick ratio of 2.02, a current ratio of 2.82 and a debt-to-equity ratio of 0.56. Lam Research has a 12-month low of $493.42 and a 12-month high of $1,007.39. The firm’s 50-day moving average price is $943.67 and its two-hundred day moving average price is $811.51.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data 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. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the prior year, the company posted $6.99 earnings per share. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, analysts forecast that Lam Research will post 29.54 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

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

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research 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 owns 22,095 shares in the company, valued at approximately $20,380,648.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction on 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 owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction on 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 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 disclosure for this sale can be found here. Insiders sold 7,029 shares of company stock worth $6,559,489 in the last quarter. 0.32% of the stock is owned by corporate insiders.

Institutional Trading of Lam Research

Several hedge funds have recently bought and sold shares of the business. Arlington Trust Co LLC grew its position in Lam Research by 7.7% in the 4th quarter. Arlington Trust Co LLC now owns 182 shares of the semiconductor company’s stock valued at $143,000 after purchasing an additional 13 shares during the period. Capital Performance Advisors LLP boosted its holdings in Lam Research by 2.2% during the 4th quarter. Capital Performance Advisors LLP now owns 613 shares of the semiconductor company’s stock worth $480,000 after acquiring an additional 13 shares during the last quarter. Van Leeuwen & Company LLC boosted its holdings in Lam Research by 0.5% during the 4th quarter. Van Leeuwen & Company LLC now owns 2,583 shares of the semiconductor company’s stock worth $2,023,000 after acquiring an additional 13 shares during the last quarter. Busey Bank boosted its holdings in Lam Research by 1.5% during the 1st quarter. Busey Bank now owns 869 shares of the semiconductor company’s stock worth $844,000 after acquiring an additional 13 shares during the last quarter. Finally, First Affirmative Financial Network boosted its holdings in Lam Research by 2.5% during the 1st quarter. First Affirmative Financial Network now owns 525 shares of the semiconductor company’s stock worth $510,000 after acquiring an additional 13 shares during the last quarter. 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.