Lam Research (NASDAQ:LRCX) Price Target Raised to $950.00

Lam Research (NASDAQ:LRCX) had its price target lifted by JPMorgan Chase & Co. from $900.00 to $950.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have an overweight rating on the semiconductor company’s stock.

A number of other research firms have also weighed in on LRCX. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Lam Research in a research report on Thursday, April 11th. They issued a hold rating and a $1,000.00 price target for the company. B. Riley upgraded shares of Lam Research from a neutral rating to a buy rating and upped their price target for the stock from $870.00 to $1,100.00 in a research report on Friday, April 19th. Needham & Company LLC reiterated a buy rating and issued a $1,030.00 price target on shares of Lam Research in a research report on Thursday. Wells Fargo & Company upped their price target on shares of Lam Research from $930.00 to $980.00 and gave the stock an equal weight rating in a research report on Tuesday, April 2nd. Finally, Susquehanna dropped their price target on shares of Lam Research from $880.00 to $850.00 and set a neutral rating for the company in a research report on Thursday. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $950.85.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $925.37 on Thursday. The firm has a 50 day moving average of $943.67 and a 200 day moving average of $810.33. The company has a current ratio of 2.82, a quick ratio of 2.02 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $121.32 billion, a price-to-earnings ratio of 34.03, a price-to-earnings-growth ratio of 3.29 and a beta of 1.51. Lam Research has a 12-month low of $493.42 and a 12-month high of $1,007.39.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.26 by $0.53. The company had revenue of $3.79 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the business posted $6.99 earnings per share. On average, research analysts anticipate that Lam Research will post 29.54 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s payout ratio is 29.42%.

Insider Activity at Lam Research

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction on 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 is available at this hyperlink. In other news, CAO Christina Corrreia sold 647 shares of the company’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 $628,903.41. Following the transaction, the chief accounting officer now directly owns 5,541 shares in the company, valued at $5,386,018.23. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s 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 completion of the transaction, the senior vice president now 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 over the last 90 days. 0.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Orion Capital Management LLC bought a new position in Lam Research during the 3rd quarter worth about $25,000. BluePath Capital Management LLC bought a new position in Lam Research during the 3rd quarter worth about $28,000. DSM Capital Partners LLC bought a new position in Lam Research during the 4th quarter worth about $28,000. OFI Invest Asset Management bought a new position in Lam Research during the 3rd quarter worth about $30,000. Finally, Asset Dedication LLC grew its holdings in Lam Research by 56.7% during the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 17 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

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.