Lam Research (NASDAQ:LRCX) Given New $241.00 Price Target at Evercore ISI

Lam Research (NASDAQ:LRCX) had its price objective raised by Evercore ISI from $170.00 to $241.00 in a research note released on Monday morning,MarketScreener reports. Evercore ISI currently has an outperform rating on the semiconductor company’s stock.

Several other research firms have also issued reports on LRCX. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Lam Research in a report on Monday, December 29th. Wells Fargo & Company set a $250.00 price objective on shares of Lam Research and gave the company an “overweight” rating in a report on Thursday, January 15th. Citigroup reissued a “buy” rating and issued a $265.00 target price (up from $190.00) on shares of Lam Research in a research report on Thursday. TD Cowen reaffirmed a “buy” rating on shares of Lam Research in a research report on Thursday, October 23rd. Finally, UBS Group reiterated a “buy” rating and set a $255.00 price target (up previously from $200.00) on shares of Lam Research in a research note on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $202.81.

Lam Research Trading Up 2.3%

Shares of NASDAQ LRCX opened at $222.87 on Monday. Lam Research has a 1-year low of $56.32 and a 1-year high of $236.10. The business has a fifty day moving average price of $179.59 and a 200 day moving average price of $142.73. The stock has a market capitalization of $279.93 billion, a P/E ratio of 49.09, a price-to-earnings-growth ratio of 2.76 and a beta of 1.77. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.21 and a quick ratio of 1.60.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 7th. Investors of record on Wednesday, December 3rd were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Wednesday, December 3rd. Lam Research’s payout ratio is currently 22.91%.

Insider Buying and Selling at Lam Research

In other Lam Research news, Director Bethany Mayer sold 1,298 shares of Lam Research stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $159.99, for a total value of $207,667.02. Following the completion of the transaction, the director owned 1,652 shares of the company’s stock, valued at approximately $264,303.48. The trade was a 44.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Douglas R. Bettinger sold 40,080 shares of the company’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $150.60, for a total transaction of $6,036,048.00. Following the completion of the transaction, the chief financial officer owned 987,237 shares of the company’s stock, valued at approximately $148,677,892.20. This trade represents a 3.90% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 41,408 shares of company stock worth $6,248,501. 0.31% of the stock is owned by company insiders.

Institutional Trading of Lam Research

A number of institutional investors and hedge funds have recently made changes to their positions in the business. PMV Capital Advisers LLC purchased a new stake in Lam Research in the 4th quarter worth $25,000. IMG Wealth Management Inc. purchased a new stake in shares of Lam Research during the second quarter worth about $26,000. Stance Capital LLC acquired a new position in shares of Lam Research during the 3rd quarter worth about $26,000. Howard Hughes Medical Institute purchased a new position in Lam Research in the 2nd quarter valued at about $27,000. Finally, Triumph Capital Management purchased a new position in Lam Research in the 3rd quarter valued at about $27,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

About Lam Research

Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.

Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.