Lam Research (NASDAQ:LRCX) PT Raised to $950.00 at JPMorgan Chase & Co.

Lam Research (NASDAQ:LRCX) had its price target boosted by JPMorgan Chase & Co. from $900.00 to $950.00 in a research note released on Thursday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the semiconductor company’s stock.

A number of other analysts have also recently weighed in on the stock. Mizuho increased their price objective on shares of Lam Research from $935.00 to $960.00 and gave the stock a buy rating in a report on Thursday. Susquehanna dropped their price objective on shares of Lam Research from $880.00 to $850.00 and set a neutral rating on the stock in a report on Thursday. Cantor Fitzgerald reaffirmed a neutral rating and issued a $1,100.00 price objective on shares of Lam Research in a report on Thursday. Raymond James increased their price objective on shares of Lam Research from $850.00 to $950.00 and gave the stock an outperform rating in a report on Thursday, January 25th. Finally, UBS Group raised their target price on shares of Lam Research from $1,130.00 to $1,150.00 and gave the company a buy rating in a research note on Thursday. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Lam Research has an average rating of Moderate Buy and an average target price of $950.85.

Lam Research Trading Up 2.7 %

Lam Research stock opened at $925.37 on Thursday. The firm’s 50-day moving average is $943.67 and its 200-day moving average is $811.51. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.02 and a current ratio of 2.82. Lam Research has a 1 year low of $493.42 and a 1 year high of $1,007.39. The company has a market cap of $121.32 billion, a P/E ratio of 34.03, a PEG ratio of 3.29 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share 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 business had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter last year, the company earned $6.99 EPS. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, equities analysts expect that Lam Research will post 29.54 earnings per share for the current year.

Lam Research Dividend Announcement

The firm 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 Transactions at Lam Research

In other news, CAO Christina Corrreia sold 647 shares of Lam Research 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 $628,903.41. Following the transaction, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the firm’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 $857,330.46. Following the completion of the transaction, the director now directly owns 10,541 shares in the company, valued at $10,246,168.23. The sale was disclosed in a filing with the SEC, 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 completion of the transaction, the chief accounting officer now 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 7,029 shares of company stock valued at $6,559,489 in the last quarter. Insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Arlington Trust Co LLC boosted its holdings in shares of Lam Research by 7.7% during the fourth quarter. Arlington Trust Co LLC now owns 182 shares of the semiconductor company’s stock worth $143,000 after purchasing an additional 13 shares during the period. Capital Performance Advisors LLP boosted its holdings in shares of Lam Research by 2.2% during the fourth quarter. Capital Performance Advisors LLP now owns 613 shares of the semiconductor company’s stock worth $480,000 after purchasing an additional 13 shares during the period. Van Leeuwen & Company LLC boosted its holdings in shares of Lam Research by 0.5% during the fourth quarter. Van Leeuwen & Company LLC now owns 2,583 shares of the semiconductor company’s stock worth $2,023,000 after purchasing an additional 13 shares during the period. Busey Bank boosted its holdings in shares of Lam Research by 1.5% during the first quarter. Busey Bank now owns 869 shares of the semiconductor company’s stock worth $844,000 after purchasing an additional 13 shares during the period. Finally, First Affirmative Financial Network boosted its holdings in shares of Lam Research by 2.5% during the first quarter. First Affirmative Financial Network now owns 525 shares of the semiconductor company’s stock worth $510,000 after purchasing an additional 13 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

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.