Lam Research (NASDAQ:LRCX) Price Target Lowered to $850.00 at Susquehanna

Lam Research (NASDAQ:LRCX) had its target price trimmed by Susquehanna from $880.00 to $850.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the semiconductor company’s stock.

A number of other equities analysts have also commented on the company. Mizuho raised 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. Cantor Fitzgerald raised their price objective on Lam Research from $900.00 to $1,100.00 and gave the stock a neutral rating in a research note on Monday, April 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Lam Research in a research note on Thursday, April 11th. They set a hold rating and a $1,000.00 price objective on the stock. Barclays raised their target price on Lam Research from $750.00 to $825.00 and gave the company an equal weight rating in a report on Thursday, January 25th. Finally, TD Cowen raised their target price on Lam Research from $975.00 to $1,000.00 and gave the company a buy rating in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Lam Research presently has an average rating of Moderate Buy and a consensus target price of $950.85.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $901.47 on Thursday. The firm has a market cap of $118.18 billion, a P/E ratio of 33.15, a price-to-earnings-growth ratio of 3.20 and a beta of 1.51. The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61. Lam Research has a 1-year low of $493.42 and a 1-year high of $1,007.39. The business’s 50 day moving average is $943.68 and its 200-day moving average is $807.04.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $6.99 earnings per share. Equities research analysts predict that Lam Research will post 28.96 earnings per share for the current year.

Lam Research Announces Dividend

The firm 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. This represents a $8.00 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s dividend payout ratio (DPR) is presently 29.42%.

Insider Transactions at Lam Research

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $628,903.41. Following the transaction, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,029 shares of company stock valued at $6,559,489. Corporate insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Lam Research

Hedge funds have recently added to or reduced their stakes in the stock. DSM Capital Partners LLC acquired a new position in Lam Research during the 4th quarter valued at about $28,000. Valued Wealth Advisors LLC purchased a new position in shares of Lam Research in the 4th quarter worth approximately $30,000. Orion Capital Management LLC purchased a new position in shares of Lam Research in the 3rd quarter worth approximately $25,000. Partnership Wealth Management LLC purchased a new position in shares of Lam Research in the 4th quarter worth approximately $33,000. Finally, Ulland Investment Advisors LLC purchased a new position in shares of Lam Research in the 1st quarter worth approximately $42,000. Institutional investors and hedge funds 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.