Lam Research (NASDAQ:LRCX) Price Target Raised to $1,000.00 at TD Cowen

Lam Research (NASDAQ:LRCX) had its target price upped by TD Cowen from $975.00 to $1,000.00 in a research report report published on Thursday morning, MarketBeat reports. They currently have a buy rating on the semiconductor company’s stock.

Several other equities research analysts have also recently weighed in on LRCX. Mizuho upped their price target on Lam Research from $900.00 to $935.00 and gave the stock a buy rating in a research note on Thursday, January 25th. Evercore ISI began coverage on Lam Research in a research note on Tuesday, April 16th. They issued an outperform rating and a $1,200.00 target price on the stock. Barclays increased their target price on Lam Research from $750.00 to $825.00 and gave the stock an equal weight rating in a research note on Thursday, January 25th. Susquehanna increased their target price on Lam Research from $655.00 to $880.00 and gave the stock a neutral rating in a research note on Monday, January 29th. Finally, UBS Group increased their target price on Lam Research from $885.00 to $1,130.00 and gave the stock a buy rating in a research note on Tuesday, March 5th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Lam Research presently has a consensus rating of Moderate Buy and a consensus price target of $950.85.

Lam Research Price Performance

Shares of LRCX stock opened at $925.37 on Thursday. The stock has a market cap 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 business’s fifty day moving average is $943.67 and its 200 day moving average is $810.33. Lam Research has a twelve month low of $493.42 and a twelve month high of $1,007.39. 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 (NASDAQ:LRCX) last issued its quarterly earnings results 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. The company had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $6.99 earnings per share. Research analysts expect that Lam Research will post 29.54 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a 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 Buying and Selling at Lam Research

In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the transaction, the director now owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the transaction, the director now owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction dated 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 in the company, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,029 shares of company stock valued at $6,559,489. 0.32% of the stock is owned by company insiders.

Institutional Trading of Lam Research

A number of hedge funds and other institutional investors have recently bought and sold shares of LRCX. Norges Bank purchased a new stake in Lam Research in the fourth quarter worth about $1,414,111,000. International Assets Investment Management LLC increased its position in Lam Research by 76,165.7% in the fourth 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 in the last quarter. Cerity Partners LLC increased its position in Lam Research by 1,125.6% in the fourth 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 in the last quarter. Bank of New York Mellon Corp grew its position in shares of Lam Research by 10.8% during the third 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 purchasing an additional 159,815 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its position in shares of Lam Research by 106.5% during the third quarter. Canada Pension Plan Investment Board now owns 301,071 shares of the semiconductor company’s stock worth $188,702,000 after purchasing an additional 155,240 shares in the last quarter. Hedge funds and other institutional investors 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.