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

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

Several other brokerages have also recently issued reports on LRCX. The Goldman Sachs Group boosted their price target on Lam Research from $700.00 to $912.00 and gave the company a buy rating in a research note on Thursday, January 25th. Citigroup boosted their price target on Lam Research from $800.00 to $975.00 and gave the company a buy rating in a research note on Thursday, January 25th. UBS Group raised their target price on Lam Research from $885.00 to $1,130.00 and gave the company a buy rating in a report on Tuesday, March 5th. Raymond James raised their target price on Lam Research from $850.00 to $950.00 and gave the company an outperform rating in a report on Thursday, January 25th. Finally, 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. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $950.85.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $925.37 on Thursday. The business’s 50 day moving average price is $943.67 and its two-hundred day moving average price is $810.33. The company has a market cap of $121.32 billion, a PE ratio of 34.03, a price-to-earnings-growth ratio of 3.29 and a beta of 1.51. The company has a quick ratio of 2.02, a current ratio of 2.82 and a debt-to-equity ratio of 0.56. Lam Research has a twelve month low of $493.42 and a twelve month high of $1,007.39.

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

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were issued a dividend of $2.00 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a yield of 0.86%. Lam Research’s payout ratio is currently 29.42%.

Insiders Place Their Bets

In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $857,330.46. Following the completion of the sale, the director now directly owns 10,541 shares in the company, valued at approximately $10,246,168.23. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’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 in the company, valued at approximately $20,380,648.95. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction dated 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 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. In the last ninety days, insiders sold 7,029 shares of company stock worth $6,559,489. Company insiders own 0.32% of the company’s stock.

Institutional Trading of Lam Research

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Lam Research by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 11,711,747 shares of the semiconductor company’s stock valued at $9,173,343,000 after buying an additional 79,581 shares during the period. Fisher Asset Management LLC grew its stake in shares of Lam Research by 3.0% in the 4th quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock valued at $2,329,037,000 after buying an additional 86,721 shares during the period. Morgan Stanley grew its stake in shares of Lam Research by 3.2% in the 3rd quarter. Morgan Stanley now owns 1,857,918 shares of the semiconductor company’s stock valued at $1,164,490,000 after buying an additional 56,824 shares during the period. Norges Bank acquired a new stake in shares of Lam Research in the 4th quarter valued at about $1,414,111,000. Finally, Bank of New York Mellon Corp boosted its stake in Lam Research by 10.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,642,367 shares of the semiconductor company’s stock valued at $1,029,386,000 after purchasing an additional 159,815 shares during 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.