Lam Research (NASDAQ:LRCX) PT Raised to $1,000.00 at TD Cowen

Lam Research (NASDAQ:LRCX) had its target price increased by TD Cowen from $975.00 to $1,000.00 in a report published on Thursday morning, MarketBeat Ratings reports. TD Cowen currently has a buy rating on the semiconductor company’s stock.

Other equities analysts have also issued reports about the company. UBS Group lifted their price objective on Lam Research from $885.00 to $1,130.00 and gave the stock a buy rating in a research note on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft started coverage on Lam Research in a research note on Thursday, April 11th. They issued a hold rating and a $1,000.00 price objective on the stock. Citigroup lifted their price objective on Lam Research from $800.00 to $975.00 and gave the stock a buy rating in a research note on Thursday, January 25th. The Goldman Sachs Group lifted their price objective on Lam Research from $700.00 to $912.00 and gave the stock a buy rating in a research note on Thursday, January 25th. Finally, B. Riley raised Lam Research from a neutral rating to a buy rating and lifted their price objective for the stock from $870.00 to $1,100.00 in a research note on Friday, April 19th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $950.85.

Lam Research Stock Performance

Shares of LRCX stock opened at $925.37 on Thursday. The business’s 50-day moving average price is $943.67 and its 200-day moving average price is $811.51. 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 $121.32 billion, a price-to-earnings ratio of 34.03, a PEG ratio of 3.29 and a beta of 1.51. The company has a current ratio of 2.82, a quick ratio of 2.02 and a debt-to-equity ratio of 0.56.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The firm had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period last year, the firm posted $6.99 earnings per share. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. Equities research analysts forecast that Lam Research will post 29.54 EPS for the current year.

Lam Research Announces Dividend

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

Insider Activity

In other news, 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 transaction of $5,073,255.00. Following the completion of the sale, the senior vice president now owns 22,095 shares in the company, valued at $20,380,648.95. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction that occurred on 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 owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The sale 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 Lam Research stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. Insiders sold a total of 7,029 shares of company stock worth $6,559,489 over the last quarter. 0.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Blue Whale Capital LLP boosted its position in shares of Lam Research by 0.7% during the third quarter. Blue Whale Capital LLP now owns 112,300 shares of the semiconductor company’s stock valued at $70,386,000 after buying an additional 800 shares during the last quarter. Everence Capital Management Inc. boosted its position in Lam Research by 54.7% in the fourth quarter. Everence Capital Management Inc. now owns 4,073 shares of the semiconductor company’s stock worth $3,190,000 after purchasing an additional 1,440 shares during the last quarter. Gradient Investments LLC boosted its position in Lam Research by 32,411.1% in the fourth quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock worth $11,459,000 after purchasing an additional 14,585 shares during the last quarter. Contravisory Investment Management Inc. purchased a new position in Lam Research in the fourth quarter worth $7,930,000. Finally, Treasurer of the State of North Carolina boosted its position in Lam Research by 0.9% in the third quarter. Treasurer of the State of North Carolina now owns 63,809 shares of the semiconductor company’s stock worth $39,994,000 after purchasing an additional 560 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.