Lam Research (NASDAQ:LRCX) Price Target Increased to $1,030.00 by Analysts at Needham & Company LLC

Lam Research (NASDAQ:LRCX) had its price objective lifted by Needham & Company LLC from $900.00 to $1,030.00 in a research note published on Thursday morning, MarketBeat.com reports. The firm currently has a buy rating on the semiconductor company’s stock.

A number of other research analysts have also recently commented on the company. Cantor Fitzgerald upped their target price on Lam Research from $900.00 to $1,100.00 and gave the company a neutral rating in a research note on Monday, April 8th. Citigroup upped their target price on Lam Research from $800.00 to $975.00 and gave the company a buy rating in a research note on Thursday, January 25th. Wells Fargo & Company upped their target price on Lam Research from $930.00 to $980.00 and gave the company an equal weight rating in a research note on Tuesday, April 2nd. TD Cowen upped their target price on Lam Research from $710.00 to $975.00 and gave the company an outperform rating in a research note on Thursday, January 25th. Finally, Stifel Nicolaus upped their target price on Lam Research from $950.00 to $1,050.00 and gave the company a buy rating in a research note on Tuesday, April 16th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Lam Research has a consensus rating of Moderate Buy and an average price target of $931.85.

Lam Research Trading Down 2.1 %

Shares of LRCX stock opened at $870.25 on Thursday. Lam Research has a 1 year low of $493.42 and a 1 year high of $1,007.39. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02. The stock’s 50 day simple moving average is $945.44 and its two-hundred day simple moving average is $802.29. The company has a market cap of $114.09 billion, a PE ratio of 33.65, a price-to-earnings-growth ratio of 3.15 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) 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 business had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same period in the prior year, the business posted $10.71 earnings per share. The company’s quarterly revenue was down 28.8% compared to the same quarter last year. Research analysts predict that Lam Research will post 28.92 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders 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 annualized dividend and a yield of 0.92%. Lam Research’s dividend payout ratio (DPR) is presently 30.94%.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction on 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 sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Christina Corrreia sold 647 shares of the stock in a transaction on Monday, April 1st. The stock was 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 owns 5,541 shares in the company, valued at approximately $5,386,018.23. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 approximately $20,380,648.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,029 shares of company stock valued at $6,559,489. 0.32% of the stock is currently owned by corporate insiders.

Institutional Trading of Lam Research

Hedge funds and other institutional investors have recently made changes to their positions in the business. Baird Financial Group Inc. raised its stake in Lam Research by 11.5% in the 1st quarter. Baird Financial Group Inc. now owns 39,514 shares of the semiconductor company’s stock worth $21,243,000 after acquiring an additional 4,090 shares during the last quarter. Zions Bancorporation N.A. raised its stake in Lam Research by 39.1% in the 1st quarter. Zions Bancorporation N.A. now owns 281 shares of the semiconductor company’s stock worth $151,000 after acquiring an additional 79 shares during the last quarter. Brown Brothers Harriman & Co. raised its stake in Lam Research by 18.8% in the 1st quarter. Brown Brothers Harriman & Co. now owns 721 shares of the semiconductor company’s stock worth $388,000 after acquiring an additional 114 shares during the last quarter. Covestor Ltd raised its stake in Lam Research by 51.9% in the 1st quarter. Covestor Ltd now owns 322 shares of the semiconductor company’s stock worth $173,000 after acquiring an additional 110 shares during the last quarter. Finally, Mackenzie Financial Corp raised its stake in Lam Research by 11.8% in the 1st quarter. Mackenzie Financial Corp now owns 233,280 shares of the semiconductor company’s stock worth $125,414,000 after acquiring an additional 24,636 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

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.