Lam Research (NASDAQ:LRCX) PT Raised to $1,030.00 at Needham & Company LLC

Lam Research (NASDAQ:LRCX) had its price target raised by Needham & Company LLC from $900.00 to $1,030.00 in a report issued on Thursday, MarketBeat.com reports. The firm currently has a buy rating on the semiconductor company’s stock.

A number of other equities analysts also recently commented on LRCX. TD Cowen upped their target price on shares of Lam Research from $710.00 to $975.00 and gave the stock an outperform rating in a research note on Thursday, January 25th. The Goldman Sachs Group upped their target price on shares of Lam Research from $700.00 to $912.00 and gave the stock a buy rating in a research note on Thursday, January 25th. Wells Fargo & Company increased their price objective on shares of Lam Research from $930.00 to $980.00 and gave the company an equal weight rating in a research note on Tuesday, April 2nd. Barclays increased their price objective on shares of Lam Research from $750.00 to $825.00 and gave the company an equal weight rating in a research note on Thursday, January 25th. Finally, Evercore ISI assumed coverage on shares of Lam Research in a research note on Tuesday. They set an outperform rating and a $1,200.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Lam Research currently has an average rating of Moderate Buy and a consensus price target of $881.45.

Lam Research Price Performance

Shares of LRCX stock opened at $888.92 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02. The company has a market capitalization of $116.54 billion, a P/E ratio of 34.37, a P/E/G ratio of 3.30 and a beta of 1.51. The company’s 50-day simple moving average is $946.27 and its two-hundred day simple moving average is $798.17. Lam Research has a one year low of $482.74 and a one year high of $1,007.39.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 EPS for the quarter, topping analysts’ consensus estimates of $7.06 by $0.46. The business had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.71 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The company’s revenue for the quarter was down 28.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.71 EPS. As a group, equities analysts anticipate that Lam Research will post 28.9 EPS for the current year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were issued 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 dividend yield of 0.90%. Lam Research’s dividend payout ratio is currently 30.94%.

Insiders Place Their Bets

In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were 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 owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were 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 owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction 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 completion of the sale, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. 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. Insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its holdings in shares of Lam Research by 32.6% during the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 3,698 shares of the semiconductor company’s stock worth $3,593,000 after purchasing an additional 909 shares during the last quarter. Capital Advisors Ltd. LLC raised its holdings in shares of Lam Research by 69.5% during the first quarter. Capital Advisors Ltd. LLC now owns 395 shares of the semiconductor company’s stock worth $384,000 after purchasing an additional 162 shares during the last quarter. Farmers & Merchants Investments Inc. raised its holdings in shares of Lam Research by 1.2% during the first quarter. Farmers & Merchants Investments Inc. now owns 2,211 shares of the semiconductor company’s stock worth $2,148,000 after purchasing an additional 26 shares during the last quarter. Miracle Mile Advisors LLC raised its holdings in shares of Lam Research by 2.0% during the first quarter. Miracle Mile Advisors LLC now owns 752 shares of the semiconductor company’s stock worth $731,000 after purchasing an additional 15 shares during the last quarter. Finally, Little House Capital LLC raised its holdings in shares of Lam Research by 8.0% during the first quarter. Little House Capital LLC now owns 1,262 shares of the semiconductor company’s stock worth $1,226,000 after purchasing an additional 94 shares during the last quarter. 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.