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

Needham & Company LLC reissued their buy rating on shares of Lam Research (NASDAQ:LRCX) in a report issued on Thursday morning, Benzinga reports. They currently have a $1,030.00 price objective on the semiconductor company’s stock.

Other research analysts also recently issued reports about the company. Mizuho upped their price objective on Lam Research from $900.00 to $935.00 and gave the stock a buy rating in a research note on Thursday, January 25th. TD Cowen boosted their price target on Lam Research from $975.00 to $1,000.00 and gave the stock a buy rating in a research report on Thursday. B. Riley upgraded Lam Research from a neutral rating to a buy rating and boosted their price target for the stock from $870.00 to $1,100.00 in a research report on Friday, April 19th. UBS Group boosted their price target on Lam Research from $885.00 to $1,130.00 and gave the stock a buy rating in a research report on Tuesday, March 5th. Finally, Wells Fargo & Company boosted their price target on Lam Research from $930.00 to $980.00 and gave the stock an equal weight rating in a research report on Tuesday, April 2nd. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $950.85.

Lam Research Price Performance

Shares of LRCX opened at $925.37 on Thursday. The company has a market cap of $121.32 billion, a P/E ratio of 34.03, a PEG ratio of 3.29 and a beta of 1.51. The stock has a fifty day moving average price of $943.67 and a 200 day moving average price of $810.33. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 2.02. Lam Research has a 12 month low of $493.42 and a 12 month high of $1,007.39.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 EPS 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 the consensus estimate 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 was down 2.0% on a year-over-year basis. During the same period in the prior year, the business earned $6.99 EPS. On average, research analysts forecast that Lam Research will post 29.54 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date was Tuesday, March 12th. Lam Research’s dividend payout ratio (DPR) is presently 29.42%.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’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 sale, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Christina Corrreia sold 647 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. The disclosure for this sale can be found here. Insiders have sold 7,029 shares of company stock valued at $6,559,489 over the last three months. Company insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LRCX. Norges Bank acquired a new position in Lam Research during the fourth quarter valued at $1,414,111,000. International Assets Investment Management LLC increased its position in Lam Research by 76,165.7% in the 4th quarter. International Assets Investment Management LLC now owns 318,028 shares of the semiconductor company’s stock worth $249,099,000 after purchasing an additional 317,611 shares during the last quarter. Cerity Partners LLC increased its position in Lam Research by 1,125.6% in the 4th quarter. Cerity Partners LLC now owns 342,139 shares of the semiconductor company’s stock worth $267,984,000 after purchasing an additional 314,224 shares during the last quarter. Bank of New York Mellon Corp increased its position in Lam Research by 10.8% in 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 purchasing an additional 159,815 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in Lam Research by 106.5% in the 3rd 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 during the last quarter. 84.61% of the stock is 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.