Stifel Nicolaus Increases Lam Research (NASDAQ:LRCX) Price Target to $1,050.00

Lam Research (NASDAQ:LRCX) had its price target lifted by Stifel Nicolaus from $950.00 to $1,050.00 in a report issued on Tuesday, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

LRCX has been the topic of several other reports. Deutsche Bank Aktiengesellschaft started coverage on Lam Research in a report on Thursday, April 11th. They issued a hold rating and a $1,000.00 target price on the stock. The Goldman Sachs Group boosted their target price on Lam Research from $700.00 to $912.00 and gave the stock a buy rating in a report on Thursday, January 25th. Mizuho upped their price target on Lam Research from $900.00 to $935.00 and gave the company a buy rating in a report on Thursday, January 25th. Wells Fargo & Company upped their price target on Lam Research from $930.00 to $980.00 and gave the company an equal weight rating in a report on Tuesday, April 2nd. Finally, Citigroup upped their price target on Lam Research from $800.00 to $975.00 and gave the company a buy rating in a report on Thursday, January 25th. Seven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $899.64.

Lam Research Stock Performance

Shares of Lam Research stock opened at $870.25 on Tuesday. Lam Research has a 12 month low of $493.42 and a 12 month high of $1,007.39. The firm has a market capitalization of $114.09 billion, a P/E ratio of 33.65, a P/E/G ratio of 3.22 and a beta of 1.51. The business has a fifty day simple moving average of $945.44 and a two-hundred day simple moving average of $799.83. The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, beating analysts’ consensus estimates of $7.06 by $0.46. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The company had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same quarter last year, the company earned $10.71 EPS. The firm’s revenue for the quarter was down 28.8% on a year-over-year basis. On average, equities analysts forecast that Lam Research will post 28.92 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were given a dividend of $2.00 per share. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.92%. Lam Research’s payout ratio is currently 30.94%.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction dated 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 transaction, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $857,330.46. Following the transaction, the director now directly owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the transaction, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. The disclosure for this sale can be found here. Insiders have sold a total of 7,029 shares of company stock valued at $6,559,489 in the last ninety days. Corporate insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Orion Capital Management LLC purchased a new position in Lam Research in the 3rd quarter worth approximately $25,000. Hobbs Group Advisors LLC purchased a new position in Lam Research in the 4th quarter worth approximately $27,000. BluePath Capital Management LLC purchased a new position in Lam Research in the 3rd quarter worth approximately $28,000. DSM Capital Partners LLC purchased a new position in Lam Research in the 4th quarter worth approximately $28,000. Finally, OFI Invest Asset Management purchased a new position in Lam Research in the 3rd quarter worth approximately $30,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Company Profile

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.