Susquehanna Lowers Lam Research (NASDAQ:LRCX) Price Target to $850.00

Lam Research (NASDAQ:LRCX) had its price target reduced by Susquehanna from $880.00 to $850.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

A number of other equities research analysts also recently issued reports on LRCX. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Lam Research in a research note on Thursday, April 11th. They issued a hold rating and a $1,000.00 price target on the stock. B. Riley upgraded shares of Lam Research from a neutral rating to a buy rating and lifted their price objective for the company from $870.00 to $1,100.00 in a report on Friday, April 19th. Needham & Company LLC restated a buy rating and issued a $1,030.00 price objective on shares of Lam Research in a report on Thursday. Wells Fargo & Company lifted their price objective on shares of Lam Research from $930.00 to $980.00 and gave the company an equal weight rating in a report on Tuesday, April 2nd. Finally, Cantor Fitzgerald lifted their price objective on shares of Lam Research from $900.00 to $1,100.00 and gave the company a neutral rating in a report on Monday, April 8th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $950.85.

Lam Research Price Performance

Shares of LRCX stock opened at $901.47 on Thursday. 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 firm’s 50-day moving average is $943.68 and its two-hundred day moving average is $807.04. Lam Research has a 12 month low of $493.42 and a 12 month high of $1,007.39. The company has a market capitalization of $118.18 billion, a PE ratio of 33.15, a price-to-earnings-growth ratio of 3.20 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last released 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 business had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.72 billion. Lam Research had a net margin of 25.35% and a return on equity of 45.76%. The business’s revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $6.99 EPS. Analysts predict that Lam Research will post 28.96 earnings per share for the current year.

Lam Research Announces Dividend

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

Insider Transactions at Lam Research

In other news, Director Abhijit Y. Talwalkar sold 882 shares of the company’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 transaction, the director now directly owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Abhijit Y. Talwalkar sold 882 shares of the company’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 transaction, the director now directly owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s 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 transaction, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. 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 in the last ninety days. 0.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lam Research

A number of large investors have recently added to or reduced their stakes in the business. Mesirow Financial Investment Management Inc. acquired a new stake in Lam Research in the 1st quarter valued at about $206,000. MONECO Advisors LLC acquired a new stake in Lam Research in the 1st quarter valued at about $220,000. Terra Nova Asset Management LLC grew its stake in Lam Research by 2.9% in the 1st quarter. Terra Nova Asset Management LLC now owns 4,538 shares of the semiconductor company’s stock valued at $4,409,000 after acquiring an additional 128 shares during the last quarter. Meridian Wealth Management LLC grew its stake in Lam Research by 1.9% in the 1st quarter. Meridian Wealth Management LLC now owns 907 shares of the semiconductor company’s stock valued at $881,000 after acquiring an additional 17 shares during the last quarter. Finally, Jacobsen Capital Management acquired a new stake in Lam Research in the 1st quarter valued at about $231,000. 84.61% of the stock is owned by institutional investors and hedge funds.

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.