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

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

Several other equities research analysts have also weighed in on the company. Needham & Company LLC reissued a buy rating and set a $1,030.00 target price on shares of Lam Research in a research report on Thursday. Mizuho upped their target price on shares of Lam Research from $935.00 to $960.00 and gave the company a buy rating in a report on Thursday. Barclays boosted their target price on Lam Research from $750.00 to $825.00 and gave the company an equal weight rating in a report on Thursday, January 25th. 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 on the stock. Finally, Deutsche Bank Aktiengesellschaft began coverage on Lam Research in a research note on Thursday, April 11th. They issued a hold rating and a $1,000.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $950.85.

Lam Research Trading Up 2.7 %

LRCX opened at $925.37 on Thursday. The business has a fifty day moving average price of $943.67 and a 200 day moving average price of $811.51. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 2.02. Lam Research has a 12 month low of $493.42 and a 12 month high of $1,007.39. The stock 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.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53. The business had revenue of $3.79 billion for the quarter, compared to analyst estimates 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 period last year, the business earned $6.99 EPS. Sell-side analysts expect that Lam Research will post 29.54 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, April 3rd. Investors of record on Wednesday, March 13th were paid 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 dividend yield of 0.86%. Lam Research’s dividend payout ratio (DPR) is presently 29.42%.

Insider Buying and Selling

In other Lam Research news, CAO Christina Corrreia sold 647 shares of the firm’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 $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 $5,386,018.23. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $628,903.41. Following the sale, the chief accounting officer now directly owns 5,541 shares in the company, valued at $5,386,018.23. The disclosure for this sale can be found here. Insiders have sold 7,029 shares of company stock valued at $6,559,489 over the last quarter. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Lam Research

Several large investors have recently added to or reduced their stakes in LRCX. Orion Capital Management LLC purchased a new position in Lam Research during the third quarter worth approximately $25,000. BluePath Capital Management LLC purchased a new position in shares of Lam Research in the 3rd quarter worth $28,000. DSM Capital Partners LLC acquired a new position in Lam Research in the fourth quarter valued at $28,000. OFI Invest Asset Management purchased a new stake in Lam Research during the third quarter valued at about $30,000. Finally, Asset Dedication LLC increased its stake in Lam Research by 56.7% during the third quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 17 shares during the last quarter. 84.61% of the stock is currently 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.