Barclays Raises Lam Research (NASDAQ:LRCX) Price Target to $865.00

Lam Research (NASDAQ:LRCX) had its target price increased by Barclays from $825.00 to $865.00 in a research report released on Thursday, Benzinga reports. The firm currently has an equal weight rating on the semiconductor company’s stock.

LRCX has been the subject of a number of other research reports. B. Riley upgraded Lam Research from a neutral rating to a buy rating and boosted their price target for the stock from $870.00 to $1,100.00 in a research report on Friday, April 19th. Evercore ISI started coverage on Lam Research in a report on Tuesday, April 16th. They issued an outperform rating and a $1,200.00 price objective for the company. Stifel Nicolaus upped their price objective on Lam Research from $950.00 to $1,050.00 and gave the company a buy rating in a report on Tuesday, April 16th. Citigroup upped their price objective on Lam Research from $800.00 to $975.00 and gave the company a buy rating in a report on Thursday, January 25th. Finally, Cantor Fitzgerald restated a neutral rating and issued a $1,100.00 price objective on shares of Lam Research in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $950.85.

Lam Research Price Performance

Shares of LRCX opened at $925.37 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 2.02. Lam Research has a 12 month low of $493.42 and a 12 month high of $1,007.39. The stock has a fifty day moving average price of $943.67 and a 200 day moving average price of $810.33. The company has a market cap of $121.32 billion, a P/E ratio of 34.03, a PEG ratio of 3.29 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The company had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the previous year, the firm posted $6.99 EPS. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. On average, research analysts forecast that Lam Research will post 29.54 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.86%. The ex-dividend date was Tuesday, March 12th. Lam Research’s payout ratio is 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 transaction of $857,330.46. Following the transaction, the director now directly owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Lam Research news, CAO Christina Corrreia sold 647 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 $628,903.41. Following the transaction, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 completion of the transaction, the director now directly owns 10,541 shares in the company, valued at $10,246,168.23. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,029 shares of company stock valued at $6,559,489. Company insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of LRCX. Orion Capital Management LLC acquired a new position in Lam Research in the 3rd quarter worth about $25,000. BluePath Capital Management LLC acquired a new position in Lam Research in the 3rd quarter worth about $28,000. DSM Capital Partners LLC acquired a new position in Lam Research in the 4th quarter worth about $28,000. OFI Invest Asset Management acquired a new position in Lam Research in the 3rd quarter worth about $30,000. Finally, Asset Dedication LLC increased its position in Lam Research by 56.7% in the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 17 shares during the last quarter. 84.61% of the stock is 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.