Citigroup Boosts Lam Research (NASDAQ:LRCX) Price Target to $1,025.00

Lam Research (NASDAQ:LRCX) had its price objective raised by Citigroup from $975.00 to $1,025.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Several other research analysts have also recently weighed in on the stock. Cantor Fitzgerald restated a neutral rating and issued a $1,100.00 price objective on shares of Lam Research in a research report on Thursday. Deutsche Bank Aktiengesellschaft began coverage on shares of Lam Research in a research report on Thursday, April 11th. They set a hold rating and a $1,000.00 target price for the company. Needham & Company LLC reiterated a buy rating and set a $1,030.00 target price on shares of Lam Research in a research report on Thursday. Wells Fargo & Company upped their target price on shares of Lam Research from $930.00 to $980.00 and gave the company an equal weight rating in a research report on Tuesday, April 2nd. Finally, The Goldman Sachs Group upped their target price on shares of Lam Research from $700.00 to $912.00 and gave the company a buy rating in a research report on Thursday, January 25th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $950.85.

Lam Research Stock Up 2.7 %

Shares of LRCX opened at $925.37 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 2.02. The business’s 50 day simple moving average is $943.67 and its 200-day simple moving average is $810.33. Lam Research has a one year low of $493.42 and a one year high of $1,007.39. The company has a market capitalization of $121.32 billion, a P/E ratio of 34.03, a PEG ratio of 3.29 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, topping the consensus estimate of $7.26 by $0.53. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The firm had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the previous year, the company posted $6.99 EPS. Lam Research’s revenue was down 2.0% on a year-over-year basis. As a group, sell-side analysts predict that Lam Research will post 29.54 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s dividend payout ratio is currently 29.42%.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the transaction, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related 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 value 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 approximately $10,246,168.23. The sale was disclosed in a document filed with the SEC, which is available 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 completion of the transaction, 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. In the last ninety days, insiders sold 7,029 shares of company stock valued at $6,559,489. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Lam Research

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Lam Research by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 11,711,747 shares of the semiconductor company’s stock worth $9,173,343,000 after buying an additional 79,581 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Lam Research by 3.0% during the 4th quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock worth $2,329,037,000 after buying an additional 86,721 shares during the last quarter. Morgan Stanley boosted its stake in shares of Lam Research by 3.2% during the 3rd quarter. Morgan Stanley now owns 1,857,918 shares of the semiconductor company’s stock worth $1,164,490,000 after buying an additional 56,824 shares during the last quarter. Norges Bank acquired a new position in shares of Lam Research during the 4th quarter worth about $1,414,111,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Lam Research by 10.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,642,367 shares of the semiconductor company’s stock worth $1,029,386,000 after buying an additional 159,815 shares during the last quarter. 84.61% of the stock is currently 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.