Lam Research (LRCX) Given New $250.00 Price Target at Deutsche Bank
Lam Research (NASDAQ:LRCX) had its target price lifted by Deutsche Bank to $250.00 in a report released on Wednesday morning. Deutsche Bank currently has a buy rating on the semiconductor company’s stock.
Other equities research analysts have also issued reports about the company. BidaskClub upgraded Lam Research from a buy rating to a strong-buy rating in a research report on Wednesday, January 10th. Stifel Nicolaus lifted their price target on Lam Research from $235.00 to $260.00 and gave the company a buy rating in a research report on Thursday, January 25th. ValuEngine upgraded Lam Research from a hold rating to a buy rating in a research report on Friday, February 2nd. Morgan Stanley lifted their price target on Lam Research from $229.00 to $238.00 and gave the company an overweight rating in a research report on Thursday, January 25th. Finally, JPMorgan Chase & Co. lifted their price target on Lam Research from $230.00 to $260.00 and gave the company an overweight rating in a research report on Thursday, January 25th. Twenty-five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Lam Research currently has an average rating of Buy and an average price target of $239.15.
Shares of Lam Research (NASDAQ LRCX) opened at $224.95 on Wednesday. The firm has a market capitalization of $36,656.05, a P/E ratio of 24.80, a PEG ratio of 0.90 and a beta of 1.43. Lam Research has a 1 year low of $118.37 and a 1 year high of $226.08. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.47 and a quick ratio of 2.09.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 7th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Tuesday, March 6th. Lam Research’s payout ratio is 22.05%.
Lam Research declared that its Board of Directors has initiated a share buyback plan on Tuesday, November 14th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the semiconductor company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.
In other Lam Research news, SVP Sarah A. O’dowd sold 1,835 shares of Lam Research stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $212.64, for a total transaction of $390,194.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Richard A. Gottscho sold 16,866 shares of Lam Research stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $210.02, for a total value of $3,542,197.32. The disclosure for this sale can be found here. Insiders have sold 44,154 shares of company stock valued at $9,404,787 in the last quarter. 0.41% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in LRCX. Krilogy Financial LLC raised its stake in shares of Lam Research by 91.6% in the third quarter. Krilogy Financial LLC now owns 550 shares of the semiconductor company’s stock worth $102,000 after purchasing an additional 263 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Lam Research by 144.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 664 shares of the semiconductor company’s stock worth $122,000 after purchasing an additional 392 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Lam Research in the third quarter worth $134,000. Focused Wealth Management Inc purchased a new position in shares of Lam Research in the fourth quarter worth $140,000. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in shares of Lam Research in the third quarter worth $185,000. Institutional investors and hedge funds own 89.05% of the company’s stock.
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Lam Research Company Profile
Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.
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