Lam Research (NASDAQ:LRCX) Given New $1,000.00 Price Target at TD Cowen

Lam Research (NASDAQ:LRCX) had its target price raised by TD Cowen from $975.00 to $1,000.00 in a research report released on Thursday, Marketbeat reports. They currently have a buy rating on the semiconductor company’s stock.

LRCX has been the subject of a number of other research reports. Stifel Nicolaus boosted their price objective on Lam Research from $950.00 to $1,050.00 and gave the company a buy rating in a research note on Tuesday, April 16th. UBS Group boosted their price objective 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. 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 for the company. Evercore ISI began coverage on Lam Research in a research note on Tuesday, April 16th. They issued an outperform rating and a $1,200.00 price objective for the company. Finally, Cantor Fitzgerald upped their price target on Lam Research from $900.00 to $1,100.00 and gave the stock a neutral rating in a research note on Monday, April 8th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $950.85.

Lam Research Stock Performance

NASDAQ LRCX opened at $901.47 on Thursday. The company has a market cap of $118.18 billion, a P/E ratio of 33.15, a P/E/G ratio of 3.20 and a beta of 1.51. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02. The stock has a 50-day moving average of $943.68 and a two-hundred day moving average of $807.04. Lam Research has a 1-year low of $493.42 and a 1-year high of $1,007.39.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53. The firm 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 45.76% and a net margin of 25.35%. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company posted $6.99 earnings per share. As a group, analysts anticipate that Lam Research will post 28.96 EPS for the current year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Tuesday, March 12th. Lam Research’s payout ratio is currently 29.42%.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction 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 sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction 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 sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Christina Corrreia sold 647 shares of the stock in a transaction dated 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 owns 5,541 shares in the company, valued at $5,386,018.23. The disclosure for this sale can be found here. Insiders have sold a total of 7,029 shares of company stock valued at $6,559,489 over the last quarter. Insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Lam Research

A number of hedge funds have recently made changes to their positions in the stock. Blue Whale Capital LLP grew its position in 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 acquiring an additional 800 shares during the period. Everence Capital Management Inc. grew its position in Lam Research by 54.7% during the fourth quarter. Everence Capital Management Inc. now owns 4,073 shares of the semiconductor company’s stock valued at $3,190,000 after acquiring an additional 1,440 shares during the period. Gradient Investments LLC grew its position in Lam Research by 32,411.1% during the fourth quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock valued at $11,459,000 after acquiring an additional 14,585 shares during the period. Contravisory Investment Management Inc. purchased a new stake in Lam Research during the fourth quarter valued at about $7,930,000. Finally, Treasurer of the State of North Carolina grew its position in Lam Research by 0.9% during the third quarter. Treasurer of the State of North Carolina now owns 63,809 shares of the semiconductor company’s stock valued at $39,994,000 after acquiring an additional 560 shares during the period. Institutional investors and hedge funds 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.