Lam Research (NASDAQ:LRCX) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Lam Research (NASDAQ:LRCX) in a research note published on Thursday morning, Benzinga reports. They currently have a $1,030.00 target price on the semiconductor company’s stock.

A number of other research analysts have also recently commented on LRCX. B. Riley raised Lam Research from a neutral rating to a buy rating and boosted their price target for the stock from $870.00 to $1,100.00 in a report on Friday, April 19th. Deutsche Bank Aktiengesellschaft assumed coverage on Lam Research in a report on Thursday, April 11th. They issued a hold rating and a $1,000.00 price target on the stock. Evercore ISI assumed coverage on Lam Research in a report on Tuesday, April 16th. They issued an outperform rating and a $1,200.00 price target on the stock. Mizuho boosted their price target on Lam Research from $900.00 to $935.00 and gave the stock a buy rating in a report on Thursday, January 25th. Finally, Barclays lifted their price objective on Lam Research from $750.00 to $825.00 and gave the stock an equal weight rating in a research note on Thursday, January 25th. 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, Lam Research has a consensus rating of Moderate Buy and a consensus target price of $950.85.

Lam Research Stock Up 2.7 %

LRCX stock opened at $925.37 on Thursday. Lam Research has a twelve month low of $493.42 and a twelve month high of $1,007.39. The company has a quick ratio of 2.02, a current ratio of 2.82 and a debt-to-equity ratio of 0.56. The stock has a market cap of $121.32 billion, a P/E ratio of 34.03, a PEG ratio of 3.29 and a beta of 1.51. The business’s 50-day moving average price is $943.67 and its 200-day moving average price is $811.51.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share 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 analysts’ expectations of $3.72 billion. During the same period in the previous year, the firm earned $6.99 EPS. The business’s quarterly revenue was down 2.0% on a year-over-year basis. On average, equities research analysts forecast that Lam Research will post 29.54 EPS for the current year.

Lam Research Dividend Announcement

The business also recently announced 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. This represents a $8.00 annualized dividend and a dividend yield of 0.86%. The ex-dividend date was Tuesday, March 12th. Lam Research’s dividend payout ratio is currently 29.42%.

Insider Activity

In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the transaction, the director now owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Lam Research news, CAO Christina Corrreia sold 647 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the sale, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Abhijit Y. Talwalkar sold 882 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the completion of the sale, the director now owns 10,541 shares of the company’s stock, valued at $10,246,168.23. 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 insiders.

Institutional Investors Weigh In On Lam Research

Several hedge funds have recently made changes to their positions in the company. Arlington Trust Co LLC lifted its stake in shares of Lam Research by 7.7% during the 4th quarter. Arlington Trust Co LLC now owns 182 shares of the semiconductor company’s stock worth $143,000 after purchasing an additional 13 shares during the last quarter. Capital Performance Advisors LLP lifted its stake in shares of Lam Research by 2.2% during the 4th quarter. Capital Performance Advisors LLP now owns 613 shares of the semiconductor company’s stock worth $480,000 after purchasing an additional 13 shares during the last quarter. Van Leeuwen & Company LLC lifted its stake in shares of Lam Research by 0.5% during the 4th quarter. Van Leeuwen & Company LLC now owns 2,583 shares of the semiconductor company’s stock worth $2,023,000 after purchasing an additional 13 shares during the last quarter. Busey Bank lifted its stake in shares of Lam Research by 1.5% during the 1st quarter. Busey Bank now owns 869 shares of the semiconductor company’s stock worth $844,000 after purchasing an additional 13 shares during the last quarter. Finally, First Affirmative Financial Network lifted its stake in shares of Lam Research by 2.5% during the 1st quarter. First Affirmative Financial Network now owns 525 shares of the semiconductor company’s stock worth $510,000 after purchasing an additional 13 shares during the last quarter. 84.61% of the stock is currently 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.