Lam Research (NASDAQ:LRCX) Given New $850.00 Price Target at Susquehanna

Lam Research (NASDAQ:LRCX) had its price objective lowered by Susquehanna from $880.00 to $850.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the semiconductor company’s stock.

Other equities analysts have also recently issued reports about 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 note on Thursday. Mizuho boosted their target price on shares of Lam Research from $900.00 to $935.00 and gave the stock a buy rating in a research report on Thursday, January 25th. Deutsche Bank Aktiengesellschaft started coverage on shares of Lam Research in a research note on Thursday, April 11th. They issued a hold rating and a $1,000.00 target price on the stock. Raymond James lifted their price target on Lam Research from $850.00 to $950.00 and gave the stock an outperform rating in a research note on Thursday, January 25th. Finally, Evercore ISI started coverage on Lam Research in a research note on Tuesday, April 16th. They set an outperform rating and a $1,200.00 price objective on the stock. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $950.85.

Lam Research Stock Up 2.7 %

Shares of NASDAQ LRCX opened at $925.37 on Thursday. The company has a quick ratio of 2.02, a current ratio of 2.82 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $121.32 billion, a PE ratio of 34.03, a P/E/G ratio of 3.29 and a beta of 1.51. The firm has a fifty day moving average of $943.67 and a 200-day moving average of $811.51. Lam Research has a 52-week low of $493.42 and a 52-week 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 for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53. The firm had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The firm’s revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the company earned $6.99 EPS. On average, analysts anticipate that Lam Research will post 29.54 EPS for the current year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend 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 29.42%.

Insider Activity at Lam Research

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was 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 owns 22,095 shares in the company, valued at approximately $20,380,648.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the 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 sale, the senior vice president now owns 22,095 shares in the company, valued at $20,380,648.95. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Christina Corrreia sold 647 shares of the firm’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 $5,386,018.23. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,029 shares of company stock valued at $6,559,489. 0.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Lam Research

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. DSM Capital Partners LLC acquired a new stake in shares of Lam Research in the 4th quarter valued at $28,000. Valued Wealth Advisors LLC acquired a new stake in Lam Research in the fourth quarter valued at about $30,000. Orion Capital Management LLC bought a new position in Lam Research in the third quarter valued at about $25,000. Partnership Wealth Management LLC acquired a new position in Lam Research during the fourth quarter worth about $33,000. Finally, Ulland Investment Advisors LLC bought a new position in shares of Lam Research in the first quarter worth about $42,000. 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.