Lam Research (NASDAQ:LRCX) Upgraded by B. Riley to “Buy”

B. Riley upgraded shares of Lam Research (NASDAQ:LRCX) from a neutral rating to a buy rating in a research note released on Friday morning, Marketbeat.com reports. They currently have $1,100.00 target price on the semiconductor company’s stock, up from their previous target price of $870.00.

LRCX has been the subject of several other research reports. TD Cowen lifted their price target on Lam Research from $710.00 to $975.00 and gave the stock an outperform rating in a research note on Thursday, January 25th. Needham & Company LLC boosted their target price on Lam Research from $900.00 to $1,030.00 and gave the company a buy rating in a research note on Thursday. Stifel Nicolaus boosted their target price on Lam Research from $950.00 to $1,050.00 and gave the company a buy rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft began coverage on Lam Research in a research note on Thursday, April 11th. They issued a hold rating and a $1,000.00 target price for the company. Finally, Barclays boosted their target price on Lam Research from $750.00 to $825.00 and gave the company an equal weight rating in a research note on Thursday, January 25th. Seven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $899.64.

Lam Research Trading Down 2.1 %

Shares of LRCX stock opened at $870.25 on Friday. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average price of $945.44 and a two-hundred day moving average price of $799.83. Lam Research has a 12-month low of $493.42 and a 12-month high of $1,007.39. The firm has a market cap of $114.09 billion, a P/E ratio of 33.65, a price-to-earnings-growth ratio of 3.22 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.06 by $0.46. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The firm had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the previous year, the company posted $10.71 earnings per share. The company’s revenue was down 28.8% compared to the same quarter last year. Equities analysts anticipate that Lam Research will post 28.92 EPS for the current fiscal 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 dividend of $2.00 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 annualized dividend and a yield of 0.92%. Lam Research’s payout ratio is 30.94%.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research 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 sale, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CAO Christina Corrreia sold 647 shares of Lam Research 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 $628,903.41. Following the completion of the transaction, the chief accounting officer now directly owns 5,541 shares in the company, valued at $5,386,018.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research 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 transaction, the senior vice president now owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,029 shares of company stock valued at $6,559,489. 0.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lam Research

Several large investors have recently made changes to their positions in LRCX. Orion Capital Management LLC purchased a new position in shares of Lam Research during the third quarter valued at approximately $25,000. Hobbs Group Advisors LLC purchased a new position in shares of Lam Research during the fourth quarter valued at approximately $27,000. BluePath Capital Management LLC purchased a new position in Lam Research in the 3rd quarter worth approximately $28,000. DSM Capital Partners LLC purchased a new position in Lam Research in the 4th quarter worth approximately $28,000. Finally, OFI Invest Asset Management purchased a new position in Lam Research in the 3rd quarter worth approximately $30,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

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.