Mizuho Boosts Lam Research (NASDAQ:LRCX) Price Target to $960.00

Lam Research (NASDAQ:LRCX) had its price objective lifted by Mizuho from $935.00 to $960.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

A number of other equities research analysts have also recently commented on the stock. TD Cowen increased their target price on shares of Lam Research from $975.00 to $1,000.00 and gave the company a buy rating in a research report on Thursday. UBS Group upped their price objective on shares of Lam Research from $885.00 to $1,130.00 and gave the company a buy rating in a report on Tuesday, March 5th. Wells Fargo & Company upped their price objective on shares of Lam Research from $930.00 to $980.00 and gave the company an equal weight rating in a report on Tuesday, April 2nd. Barclays upped their price objective on shares of Lam Research from $750.00 to $825.00 and gave the company an equal weight rating in a report on Thursday, January 25th. Finally, Citigroup upped their price objective on shares of Lam Research from $800.00 to $975.00 and gave the company a buy rating in a report on Thursday, January 25th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Lam Research currently has an average rating of Moderate Buy and an average target price of $950.85.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $925.37 on Thursday. The firm has a 50-day simple moving average of $943.67 and a 200-day simple moving average of $810.33. The stock has a market capitalization of $121.32 billion, a price-to-earnings 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 52 week low of $493.42 and a 52 week high of $1,007.39.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 25.35% and a return on equity of 45.96%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $6.99 earnings per share. On average, equities analysts predict that Lam Research will post 29.54 earnings per share for the current fiscal year.

Lam Research Announces Dividend

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

Insider Activity at Lam Research

In related news, CAO Christina Corrreia sold 647 shares of Lam Research 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 transaction, the chief accounting officer now owns 5,541 shares in the company, valued at $5,386,018.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the transaction, the senior vice president now owns 22,095 shares in the company, valued at $20,380,648.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of 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. Over the last quarter, insiders sold 7,029 shares of company stock worth $6,559,489. Corporate insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in LRCX. Orion Capital Management LLC purchased a new position in Lam Research in the third quarter worth approximately $25,000. BluePath Capital Management LLC purchased a new position in Lam Research in the third quarter worth approximately $28,000. DSM Capital Partners LLC purchased a new position in Lam Research in the fourth quarter worth approximately $28,000. OFI Invest Asset Management purchased a new position in Lam Research in the third quarter worth approximately $30,000. Finally, Asset Dedication LLC lifted its stake in Lam Research by 56.7% in the third quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 17 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

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.