Lam Research (NASDAQ:LRCX) Given New $1,025.00 Price Target at Citigroup

Lam Research (NASDAQ:LRCX) had its price objective upped by Citigroup from $975.00 to $1,025.00 in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

Several other research analysts have also recently weighed in on the company. Raymond James boosted their target price on Lam Research from $850.00 to $950.00 and gave the stock an outperform rating in a report on Thursday, January 25th. Stifel Nicolaus upped their price objective on Lam Research from $950.00 to $1,050.00 and gave the company a buy rating in a report on Tuesday, April 16th. Susquehanna decreased their price objective on Lam Research from $880.00 to $850.00 and set a neutral rating on the stock in a report on Thursday. The Goldman Sachs Group upped their price objective on Lam Research from $700.00 to $912.00 and gave the company a buy rating in a report on Thursday, January 25th. Finally, Wells Fargo & Company upped their price objective on Lam Research from $930.00 to $980.00 and gave the company an equal weight rating in a report on Tuesday, April 2nd. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $950.85.

Lam Research Trading Up 1.9 %

LRCX stock opened at $901.47 on Thursday. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61. Lam Research has a 52-week low of $493.42 and a 52-week high of $1,007.39. The firm has a market cap of $118.18 billion, a P/E ratio of 33.15, a PEG ratio of 3.20 and a beta of 1.51. The company’s 50-day simple moving average is $943.68 and its 200-day simple moving average is $807.04.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, topping the consensus estimate of $7.26 by $0.53. Lam Research had a return on equity of 45.76% and a net margin of 25.35%. The company had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same period in the previous year, the business earned $6.99 EPS. Lam Research’s quarterly revenue was down 2.0% on a year-over-year basis. As a group, equities analysts forecast that Lam Research will post 28.96 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were given 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 of this dividend was Tuesday, March 12th. Lam Research’s dividend payout ratio is presently 29.42%.

Insider Activity at Lam Research

In related news, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of the sale, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The disclosure for this sale can be found here. Insiders sold a total of 7,029 shares of company stock valued at $6,559,489 in the last quarter. Insiders own 0.32% of the company’s stock.

Institutional Trading of Lam Research

Hedge funds have recently bought and sold shares of the company. Blue Whale Capital LLP lifted its stake 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 buying an additional 800 shares in the last quarter. Everence Capital Management Inc. lifted its position in shares of Lam Research by 54.7% in the fourth quarter. Everence Capital Management Inc. now owns 4,073 shares of the semiconductor company’s stock worth $3,190,000 after purchasing an additional 1,440 shares in the last quarter. Gradient Investments LLC lifted its position in shares of Lam Research by 32,411.1% in the fourth quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock worth $11,459,000 after purchasing an additional 14,585 shares in the last quarter. Contravisory Investment Management Inc. purchased a new stake in shares of Lam Research in the fourth quarter worth approximately $7,930,000. Finally, Treasurer of the State of North Carolina lifted its position in shares of Lam Research by 0.9% in the third quarter. Treasurer of the State of North Carolina now owns 63,809 shares of the semiconductor company’s stock worth $39,994,000 after purchasing an additional 560 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

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.