Lam Research (NASDAQ:LRCX) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Lam Research (NASDAQ:LRCX) in a report published on Thursday, Benzinga reports. The firm currently has a $1,030.00 price objective on the semiconductor company’s stock.

Other equities research analysts also recently issued reports about the stock. TD Cowen increased their price objective on shares of Lam Research from $975.00 to $1,000.00 and gave the stock a buy rating in a research note on Thursday. Mizuho increased their target price on shares of Lam Research from $900.00 to $935.00 and gave the stock a buy rating in a report on Thursday, January 25th. Cantor Fitzgerald increased their target price on shares of Lam Research from $900.00 to $1,100.00 and gave the stock a neutral rating in a report on Monday, April 8th. Evercore ISI initiated coverage on shares of Lam Research in a report on Tuesday, April 16th. They issued an outperform rating and a $1,200.00 target price for the company. Finally, Susquehanna increased their target price on shares of Lam Research from $655.00 to $880.00 and gave the stock a neutral rating in a report on Monday, January 29th. Six 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 company currently has an average rating of Moderate Buy and a consensus price target of $950.85.

Lam Research Trading Up 2.7 %

Shares of Lam Research stock opened at $925.37 on Thursday. The company has a market capitalization of $121.32 billion, a price-to-earnings ratio of 34.03, a PEG ratio of 3.29 and a beta of 1.51. The company has a quick ratio of 2.02, a current ratio of 2.82 and a debt-to-equity ratio of 0.56. Lam Research has a 12-month low of $493.42 and a 12-month high of $1,007.39. The firm’s 50-day moving average price is $943.67 and its two-hundred day moving average price is $811.51.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53. The firm 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 45.96%. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $6.99 earnings per share. On average, analysts forecast that Lam Research will post 29.54 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

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

Insiders Place Their Bets

In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 10,541 shares in the company, valued at approximately $10,246,168.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 10,541 shares in the company, valued at approximately $10,246,168.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’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 transaction, the senior vice president now owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,029 shares of company stock worth $6,559,489. 0.32% of the stock is currently owned by insiders.

Institutional Trading of Lam Research

Several large investors have recently modified their holdings of LRCX. Norges Bank acquired a new stake in shares of Lam Research during the 4th quarter worth approximately $1,414,111,000. International Assets Investment Management LLC grew its position in shares of Lam Research by 76,165.7% during the 4th quarter. International Assets Investment Management LLC now owns 318,028 shares of the semiconductor company’s stock worth $249,099,000 after buying an additional 317,611 shares during the period. Cerity Partners LLC grew its position in shares of Lam Research by 1,125.6% during the 4th quarter. Cerity Partners LLC now owns 342,139 shares of the semiconductor company’s stock worth $267,984,000 after buying an additional 314,224 shares during the period. Bank of New York Mellon Corp grew its position 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 period. Finally, Canada Pension Plan Investment Board grew its position in shares of Lam Research by 106.5% during the 3rd quarter. Canada Pension Plan Investment Board now owns 301,071 shares of the semiconductor company’s stock worth $188,702,000 after buying an additional 155,240 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.