Stifel Nicolaus Increases Lam Research (NASDAQ:LRCX) Price Target to $1,050.00

Lam Research (NASDAQ:LRCX) had its target price raised by Stifel Nicolaus from $950.00 to $1,050.00 in a research report report published on Tuesday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the semiconductor company’s stock.

LRCX has been the topic of several other reports. UBS Group increased their price target on shares of Lam Research from $885.00 to $1,130.00 and gave the company a buy rating in a research note on Tuesday, March 5th. Susquehanna increased their price target on shares of Lam Research from $655.00 to $880.00 and gave the company a neutral rating in a research note on Monday, January 29th. Mizuho increased their price target on shares of Lam Research from $900.00 to $935.00 and gave the company a buy rating in a research note on Thursday, January 25th. Citigroup increased their price target on shares of Lam Research from $800.00 to $975.00 and gave the company a buy rating in a research note on Thursday, January 25th. Finally, TD Cowen increased their price target on shares of Lam Research from $710.00 to $975.00 and gave the company an outperform rating in a research note on Thursday, January 25th. Seven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Lam Research has a consensus rating of Moderate Buy and a consensus price target of $899.64.

Lam Research Stock Down 2.1 %

Shares of NASDAQ:LRCX opened at $870.25 on Tuesday. The firm’s 50 day moving average price is $945.44 and its 200 day moving average price is $799.83. The stock has a market cap of $114.09 billion, a price-to-earnings ratio of 33.65, a price-to-earnings-growth ratio of 3.22 and a beta of 1.51. Lam Research has a fifty-two week low of $493.42 and a fifty-two week high of $1,007.39. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, beating the consensus estimate of $7.06 by $0.46. The firm had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.71 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The firm’s revenue was down 28.8% compared to the same quarter last year. During the same quarter last year, the company earned $10.71 earnings per share. As a group, equities research analysts predict that Lam Research will post 28.92 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were given a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a yield of 0.92%. Lam Research’s dividend payout ratio (DPR) is 30.94%.

Insider Buying and Selling at Lam Research

In other Lam Research news, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CAO Christina Corrreia sold 647 shares of Lam Research 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 completion of the transaction, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction on 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 directly owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The disclosure for this sale can be found here. Over the last quarter, insiders 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 added to or reduced their stakes in LRCX. Orion Capital Management LLC purchased a new stake in Lam Research in the 3rd quarter valued at about $25,000. Hobbs Group Advisors LLC bought a new position in Lam Research during the fourth quarter worth $27,000. BluePath Capital Management LLC acquired a new stake in Lam Research in the third quarter worth $28,000. DSM Capital Partners LLC acquired a new stake in Lam Research in the fourth quarter worth $28,000. Finally, OFI Invest Asset Management acquired a new position in shares of Lam Research during the third quarter valued at $30,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

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.