Analysts Set Lam Research Co. (NASDAQ:LRCX) PT at $981.29

Lam Research Co. (NASDAQ:LRCX) has earned an average rating of “Moderate Buy” from the twenty brokerages that are covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $981.29.

Several brokerages recently issued reports on LRCX. Deutsche Bank Aktiengesellschaft initiated coverage on Lam Research in a report on Thursday, April 11th. They set a “hold” rating and a $1,000.00 price objective for the company. Citigroup raised their target price on shares of Lam Research from $975.00 to $1,025.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Jefferies Financial Group initiated coverage on shares of Lam Research in a research report on Monday, May 13th. They issued a “buy” rating and a $1,100.00 price target on the stock. B. Riley lifted their price objective on Lam Research from $1,130.00 to $1,325.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Finally, Wells Fargo & Company raised their price target on Lam Research from $980.00 to $1,100.00 and gave the stock an “equal weight” rating in a research report on Monday, June 17th.

Insider Activity

In related news, EVP Patrick J. Lord sold 60 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $921.54, for a total value of $55,292.40. Following the completion of the sale, the executive vice president now directly owns 4,454 shares of the company’s stock, valued at $4,104,539.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Timothy Archer sold 9,650 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $1,070.39, for a total transaction of $10,329,263.50. Following the completion of the transaction, the chief executive officer now directly owns 84,639 shares of the company’s stock, valued at $90,596,739.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Patrick J. Lord sold 60 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $921.54, for a total value of $55,292.40. Following the completion of the sale, the executive vice president now directly owns 4,454 shares in the company, valued at approximately $4,104,539.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,166 shares of company stock worth $16,089,968. 0.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lam Research

Hedge funds have recently added to or reduced their stakes in the stock. DSM Capital Partners LLC acquired a new position in shares of Lam Research during the fourth quarter valued at $28,000. Valued Wealth Advisors LLC acquired a new position in Lam Research during the 4th quarter valued at about $30,000. Orion Capital Management LLC bought a new stake in shares of Lam Research during the 3rd quarter worth about $25,000. Partnership Wealth Management LLC bought a new position in shares of Lam Research in the fourth quarter valued at approximately $33,000. Finally, Ulland Investment Advisors LLC acquired a new position in shares of Lam Research during the first quarter valued at approximately $42,000. 84.61% of the stock is currently owned by institutional investors.

Lam Research Trading Up 1.1 %

NASDAQ LRCX opened at $1,072.82 on Friday. The firm’s fifty day moving average is $968.06 and its two-hundred day moving average is $910.04. Lam Research has a one year low of $574.42 and a one year high of $1,101.81. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.84 and a current ratio of 2.82. The firm has a market cap of $140.26 billion, a PE ratio of 39.33, a P/E/G ratio of 3.68 and a beta of 1.48.

Lam Research shares are going to split on the morning of Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be issued to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53. The business had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.72 billion. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $6.99 EPS. Analysts expect that Lam Research will post 29.67 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Tuesday, June 18th will be paid a $2.00 dividend. The ex-dividend date is Tuesday, June 18th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.75%. Lam Research’s dividend payout ratio (DPR) is presently 29.42%.

Lam Research announced that its board has authorized a stock buyback program on Tuesday, May 21st that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 8.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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.