Deutsche Bank Aktiengesellschaft Begins Coverage on Lam Research (NASDAQ:LRCX)

Deutsche Bank Aktiengesellschaft assumed coverage on shares of Lam Research (NASDAQ:LRCX) in a research report released on Thursday morning, StockNewsAPI reports. The firm issued a hold rating and a $1,000.00 target price on the semiconductor company’s stock.

A number of other brokerages also recently weighed in on LRCX. Barclays upped 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. Stifel Nicolaus upped their target price on Lam Research from $850.00 to $950.00 and gave the company a buy rating in a report on Thursday, January 25th. TD Cowen boosted their price target on Lam Research from $710.00 to $975.00 and gave the company an outperform rating in a research note on Thursday, January 25th. Cantor Fitzgerald boosted their price target on Lam Research from $900.00 to $1,100.00 and gave the company a neutral rating in a research note on Monday, April 8th. Finally, Raymond James boosted their price target on Lam Research from $850.00 to $950.00 and gave the company an outperform rating in a research note on Thursday, January 25th. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $848.27.

Lam Research Price Performance

NASDAQ LRCX opened at $957.04 on Thursday. The company has a market cap of $125.47 billion, a PE ratio of 37.01, a PEG ratio of 3.41 and a beta of 1.51. Lam Research has a 1 year low of $482.74 and a 1 year high of $1,007.39. The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61. The stock’s 50-day moving average price is $940.04 and its two-hundred day moving average price is $790.87.

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 analysts’ consensus estimates of $7.06 by $0.46. The company had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.71 billion. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The firm’s quarterly revenue was down 28.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.71 EPS. On average, analysts predict that Lam Research will post 28.9 EPS for the current year.

Lam Research Dividend Announcement

The business also recently announced 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 was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a yield of 0.84%. Lam Research’s payout ratio is currently 30.94%.

Insiders Place Their Bets

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction that occurred on 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 $20,380,648.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction that occurred on 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 $20,380,648.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Christina Corrreia sold 647 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were 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 directly owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The disclosure for this sale can be found here. Insiders sold 7,029 shares of company stock valued at $6,559,489 over the last 90 days. 0.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Affinity Capital Advisors LLC acquired a new position in shares of Lam Research in the first quarter valued at $243,000. Dynamic Advisor Solutions LLC raised its stake in shares of Lam Research by 8.9% in the first quarter. Dynamic Advisor Solutions LLC now owns 2,277 shares of the semiconductor company’s stock valued at $2,212,000 after purchasing an additional 187 shares in the last quarter. Riverview Trust Co acquired a new position in shares of Lam Research in the first quarter valued at $106,000. Keystone Wealth Services LLC acquired a new position in shares of Lam Research in the first quarter valued at $242,000. Finally, Worth Asset Management LLC acquired a new position in shares of Lam Research in the first quarter valued at $2,494,000. 84.61% of the stock is currently 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.