Lam Research (NASDAQ:LRCX) Price Target Increased to $1,050.00 by Analysts at Stifel Nicolaus

Lam Research (NASDAQ:LRCX) had its price objective lifted by Stifel Nicolaus from $950.00 to $1,050.00 in a research report report published on Tuesday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the semiconductor company’s stock.

Several other analysts have also recently commented on LRCX. Citigroup increased their price target on shares of Lam Research from $800.00 to $975.00 and gave the company a buy rating in a research note on Thursday, January 25th. TD Cowen increased their price objective on Lam Research from $710.00 to $975.00 and gave the company an outperform rating in a research report on Thursday, January 25th. UBS Group upped their price target on Lam Research from $885.00 to $1,130.00 and gave the company a buy rating in a research note on Tuesday, March 5th. Raymond James lifted their price objective on Lam Research from $850.00 to $950.00 and gave the stock an outperform rating in a research report on Thursday, January 25th. Finally, Barclays upped their target price on shares of Lam Research from $750.00 to $825.00 and gave the company an equal weight rating in a research report on Thursday, January 25th. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $881.45.

Lam Research Price Performance

Shares of Lam Research stock opened at $888.92 on Tuesday. The stock has a market capitalization of $116.54 billion, a price-to-earnings ratio of 34.37, a P/E/G ratio of 3.30 and a beta of 1.51. The firm’s 50-day moving average price is $946.27 and its two-hundred day moving average price is $798.17. The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61. Lam Research has a 1-year low of $482.74 and a 1-year high of $1,007.39.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $7.52 EPS for the quarter, topping 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 company had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the previous year, the firm earned $10.71 earnings per share. The business’s revenue was down 28.8% on a year-over-year basis. On average, equities analysts predict that Lam Research will post 28.9 earnings per share for the current fiscal 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 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 yield of 0.90%. Lam Research’s dividend payout ratio (DPR) is currently 30.94%.

Insider Activity

In related news, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $857,330.46. Following the sale, the director now directly owns 10,541 shares in the company, valued at $10,246,168.23. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Abhijit Y. Talwalkar sold 882 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $857,330.46. Following the completion of the transaction, the director now directly owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Christina Corrreia sold 647 shares of the firm’s 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 $628,903.41. Following the transaction, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The disclosure for this sale can be found here. Insiders sold 7,029 shares of company stock worth $6,559,489 over the last quarter. 0.32% of the stock is currently owned by company insiders.

Institutional Trading of Lam Research

Hedge funds have recently made changes to their positions in the business. Baird Financial Group Inc. boosted its position in Lam Research by 11.5% during the first quarter. Baird Financial Group Inc. now owns 39,514 shares of the semiconductor company’s stock worth $21,243,000 after purchasing an additional 4,090 shares during the period. Zions Bancorporation N.A. boosted its holdings in shares of Lam Research by 39.1% during the 1st quarter. Zions Bancorporation N.A. now owns 281 shares of the semiconductor company’s stock worth $151,000 after buying an additional 79 shares during the period. Brown Brothers Harriman & Co. grew 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 valued at $388,000 after buying an additional 114 shares during the last quarter. Covestor Ltd raised its holdings in Lam Research by 51.9% in the 1st quarter. Covestor Ltd now owns 322 shares of the semiconductor company’s stock valued at $173,000 after acquiring an additional 110 shares during the period. Finally, Mackenzie Financial Corp lifted its position in Lam Research by 11.8% during the first 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. 84.61% of the stock is owned by institutional investors and hedge funds.

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.