Lam Research (NASDAQ:LRCX) Price Target Raised to $100.00

Lam Research (NASDAQ:LRCX) had its price target upped by Jefferies Financial Group from $95.00 to $100.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Several other analysts have also recently issued reports on LRCX. Oppenheimer started coverage on Lam Research in a research note on Thursday, March 20th. They issued an “outperform” rating and a $95.00 target price on the stock. Morgan Stanley lifted their price objective on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of Lam Research in a report on Thursday, January 30th. The Goldman Sachs Group cut their price target on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, Wells Fargo & Company upped their price objective on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.59.

Lam Research Price Performance

Shares of Lam Research stock opened at $72.61 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research has a one year low of $68.87 and a one year high of $113.00. The business’s 50 day simple moving average is $79.51 and its two-hundred day simple moving average is $77.34. The stock has a market capitalization of $93.21 billion, a P/E ratio of 22.06, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Analysts forecast that Lam Research will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.27%. Lam Research’s payout ratio is presently 27.96%.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the transaction, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This represents a 38.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by company insiders.

Institutional Trading of Lam Research

A number of institutional investors and hedge funds have recently modified their holdings of the business. Parisi Gray Wealth Management raised its position in Lam Research by 652.9% in the 4th quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock worth $603,000 after buying an additional 7,241 shares during the last quarter. Burns J W & Co. Inc. NY bought a new stake in shares of Lam Research in the fourth quarter worth approximately $815,000. Centerpoint Advisors LLC raised its holdings in shares of Lam Research by 900.0% during the fourth quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock valued at $72,000 after purchasing an additional 900 shares during the last quarter. Worldquant Millennium Advisors LLC boosted its holdings in Lam Research by 51.9% in the third quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock worth $175,800,000 after purchasing an additional 73,648 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its position in Lam Research by 4,085.9% in the 3rd quarter. Benjamin Edwards Inc. now owns 13,395 shares of the semiconductor company’s stock worth $10,932,000 after purchasing an additional 13,075 shares during the period. Institutional investors own 84.61% of the company’s stock.

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.