Lam Research (NASDAQ:LRCX) Price Target Increased to $960.00 by Analysts at Mizuho

Lam Research (NASDAQ:LRCX) had its price target hoisted by Mizuho from $935.00 to $960.00 in a research report sent to investors on Thursday, Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

LRCX has been the topic of several other reports. Barclays increased their price objective on shares of Lam Research from $750.00 to $825.00 and gave the stock an equal weight rating in a report on Thursday, January 25th. Raymond James increased their price objective on shares of Lam Research from $850.00 to $950.00 and gave the stock an outperform rating in a report on Thursday, January 25th. The Goldman Sachs Group increased their price objective on shares of Lam Research from $700.00 to $912.00 and gave the stock a buy rating in a report on Thursday, January 25th. Susquehanna cut their price objective on shares of Lam Research from $880.00 to $850.00 and set a neutral rating on the stock in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Lam Research in a report on Thursday, April 11th. They set a hold rating and a $1,000.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $950.85.

Lam Research Price Performance

NASDAQ:LRCX opened at $925.37 on Thursday. The firm has a market cap of $121.32 billion, a price-to-earnings ratio of 34.03, a price-to-earnings-growth ratio of 3.29 and a beta of 1.51. The company has a current ratio of 2.82, a quick ratio of 2.02 and a debt-to-equity ratio of 0.56. The company’s 50-day moving average is $943.67 and its two-hundred day moving average is $810.33. Lam Research has a 12-month low of $493.42 and a 12-month high of $1,007.39.

Lam Research (NASDAQ:LRCX) last released its 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 company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.72 billion. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $6.99 EPS. Research analysts expect that Lam Research will post 29.54 EPS for the current year.

Lam Research Announces Dividend

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

Insider Buying and Selling at Lam Research

In other Lam Research news, CAO Christina Corrreia sold 647 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were 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 owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. Insiders sold 7,029 shares of company stock valued at $6,559,489 over the last 90 days. 0.32% of the stock is owned by corporate insiders.

Institutional Trading of Lam Research

A number of hedge funds have recently made changes to their positions in LRCX. Orion Capital Management LLC acquired a new stake in shares of Lam Research during the third quarter worth approximately $25,000. BluePath Capital Management LLC acquired a new stake in shares of Lam Research during the third quarter worth approximately $28,000. DSM Capital Partners LLC acquired a new stake in shares of Lam Research during the fourth quarter worth approximately $28,000. OFI Invest Asset Management acquired a new stake in shares of Lam Research during the third quarter worth approximately $30,000. Finally, Asset Dedication LLC grew its position in shares of Lam Research by 56.7% during the third quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after buying an additional 17 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

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.