Lam Research (NASDAQ:LRCX) Price Target Increased to $900.00 by Analysts at Barclays

Lam Research (NASDAQ:LRCXFree Report) had its target price boosted by Barclays from $865.00 to $900.00 in a report published on Wednesday, Benzinga reports. They currently have an equal weight rating on the semiconductor company’s stock.

A number of other equities research analysts have also issued reports on LRCX. Wells Fargo & Company increased their target price on shares of Lam Research from $930.00 to $980.00 and gave the stock an equal weight rating in a report on Tuesday, April 2nd. UBS Group increased their target price on shares of Lam Research from $1,130.00 to $1,150.00 and gave the stock a buy rating in a report on Thursday, April 25th. Mizuho increased their target price on shares of Lam Research from $935.00 to $960.00 and gave the stock a buy rating in a report on Thursday, April 25th. StockNews.com lowered shares of Lam Research from a buy rating to a hold rating in a report on Wednesday, May 15th. Finally, JPMorgan Chase & Co. increased their target price on shares of Lam Research from $900.00 to $950.00 and gave the stock an overweight rating in a report on Thursday, April 25th. Six equities research analysts have rated the stock with a hold rating and fifteen have given 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 a consensus target price of $959.62.

View Our Latest Research Report on Lam Research

Lam Research Stock Performance

Lam Research stock opened at $971.72 on Wednesday. The firm has a 50 day simple moving average of $935.37 and a 200-day simple moving average of $868.21. Lam Research has a 1-year low of $574.42 and a 1-year high of $1,007.39. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84. The stock has a market cap of $127.04 billion, a price-to-earnings ratio of 35.74, a price-to-earnings-growth ratio of 3.23 and a beta of 1.46.

Lam Research’s stock is set to split before the market opens on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly created shares will be payable to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCXGet Free Report) last posted 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. The firm had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the company posted $6.99 EPS. On average, analysts expect that Lam Research will post 29.67 EPS for the current year.

Lam Research declared that its Board of Directors has initiated a stock buyback program on Tuesday, May 21st that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to repurchase up to 8.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Tuesday, June 18th will be paid a dividend of $2.00 per share. The ex-dividend date is Tuesday, June 18th. This represents a $8.00 annualized dividend and a yield of 0.82%. Lam Research’s dividend payout ratio is currently 29.42%.

Insiders Place Their Bets

In other Lam Research news, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the transaction, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction dated 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 sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of the sale, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,489 shares of company stock valued at $6,978,065. Insiders own 0.32% of the company’s stock.

Institutional Trading of Lam Research

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Lam Research by 1.2% in the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after acquiring an additional 144,914 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Lam Research by 3.0% in the fourth quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock valued at $2,329,037,000 after acquiring an additional 86,721 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Lam Research by 5.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock valued at $2,875,023,000 after purchasing an additional 142,903 shares during the period. Morgan Stanley lifted its stake in shares of Lam Research by 3.2% in the third quarter. Morgan Stanley now owns 1,857,918 shares of the semiconductor company’s stock valued at $1,164,490,000 after purchasing an additional 56,824 shares during the period. Finally, Norges Bank acquired a new stake in shares of Lam Research in the fourth quarter valued at about $1,414,111,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Company Profile

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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.

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