Lam Research (NASDAQ:LRCX) Given New $1,150.00 Price Target at UBS Group

Lam Research (NASDAQ:LRCX) had its target price upped by UBS Group from $1,130.00 to $1,150.00 in a research report report published on Thursday, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other research analysts have also issued reports on LRCX. Wells Fargo & Company boosted their target price on Lam Research from $930.00 to $980.00 and gave the company an equal weight rating in a report on Tuesday, April 2nd. Citigroup boosted their target price on Lam Research from $800.00 to $975.00 and gave the company a buy rating in a report on Thursday, January 25th. Deutsche Bank Aktiengesellschaft started coverage on Lam Research in a report on Thursday, April 11th. They issued a hold rating and a $1,000.00 target price on the stock. Evercore ISI started coverage on Lam Research in a report on Tuesday, April 16th. They set an outperform rating and a $1,200.00 price objective on the stock. Finally, Barclays upped their price objective on Lam Research from $750.00 to $825.00 and gave the stock an equal weight rating in a report on Thursday, January 25th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Lam Research currently has an average rating of Moderate Buy and a consensus price target of $950.85.

Lam Research Price Performance

LRCX stock opened at $901.47 on Thursday. The stock has a market cap of $118.18 billion, a price-to-earnings ratio of 33.15, a PEG ratio of 3.20 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 business has a 50 day moving average price of $943.68 and a 200 day moving average price of $807.04. 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 released its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 EPS 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 analyst estimates of $3.72 billion. Lam Research had a return on equity of 45.76% and a net margin of 25.35%. The firm’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.99 earnings per share. Equities research analysts anticipate that Lam Research will post 28.96 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders 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 annualized dividend and a dividend yield of 0.89%. Lam Research’s dividend payout ratio is currently 29.42%.

Insider Activity at Lam Research

In related news, Director Abhijit Y. Talwalkar sold 882 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 value of $857,330.46. Following the completion of the transaction, the director now directly owns 10,541 shares in the company, valued at $10,246,168.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Abhijit Y. Talwalkar sold 882 shares of the company’s 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 sale, the director now owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,029 shares of company stock worth $6,559,489. 0.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lam Research

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arlington Trust Co LLC increased its stake in Lam Research by 7.7% during the fourth quarter. Arlington Trust Co LLC now owns 182 shares of the semiconductor company’s stock worth $143,000 after acquiring an additional 13 shares during the last quarter. Capital Performance Advisors LLP grew its stake in shares of Lam Research by 2.2% in the fourth quarter. Capital Performance Advisors LLP now owns 613 shares of the semiconductor company’s stock valued at $480,000 after buying an additional 13 shares in the last quarter. Van Leeuwen & Company LLC grew its stake in shares of Lam Research by 0.5% in the fourth quarter. Van Leeuwen & Company LLC now owns 2,583 shares of the semiconductor company’s stock valued at $2,023,000 after buying an additional 13 shares in the last quarter. Busey Bank grew its stake in shares of Lam Research by 1.5% in the first quarter. Busey Bank now owns 869 shares of the semiconductor company’s stock valued at $844,000 after buying an additional 13 shares in the last quarter. Finally, First Affirmative Financial Network grew its stake in shares of Lam Research by 2.5% in the first quarter. First Affirmative Financial Network now owns 525 shares of the semiconductor company’s stock valued at $510,000 after buying an additional 13 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

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.