TD Cowen Raises Lam Research (NASDAQ:LRCX) Price Target to $1,000.00

Lam Research (NASDAQ:LRCX) had its target price hoisted by TD Cowen from $975.00 to $1,000.00 in a research report sent to investors on Thursday morning, Marketbeat reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

LRCX has been the subject of several other research reports. Mizuho upped their price objective on Lam Research from $900.00 to $935.00 and gave the company a buy rating in a research note on Thursday, January 25th. Raymond James increased their target price on shares of Lam Research from $850.00 to $950.00 and gave the company an outperform rating in a research report on Thursday, January 25th. Susquehanna increased their target price on shares of Lam Research from $655.00 to $880.00 and gave the company a neutral rating in a research report on Monday, January 29th. UBS Group increased their target price on shares of Lam Research from $885.00 to $1,130.00 and gave the company a buy rating in a research report on Tuesday, March 5th. Finally, Needham & Company LLC increased their target price on shares of Lam Research from $900.00 to $1,030.00 and gave the company a buy rating in a research report on Thursday, April 18th. Six 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 presently has an average rating of Moderate Buy and an average price target of $950.85.

Lam Research Stock Up 2.7 %

LRCX stock opened at $925.37 on Thursday. The firm has a 50-day moving average price of $943.67 and a 200-day moving average price of $810.33. Lam Research has a 12 month low of $493.42 and a 12 month high of $1,007.39. The company has a current ratio of 2.82, a quick ratio of 2.02 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $121.32 billion, a P/E ratio of 34.03, a price-to-earnings-growth ratio of 3.29 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data 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. 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 the consensus estimate of $3.72 billion. During the same quarter in the prior year, the firm posted $6.99 earnings per share. The firm’s revenue was down 2.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Lam Research will post 29.54 EPS for the current fiscal year.

Lam Research Dividend Announcement

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

Insider Buying and Selling

In related news, 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 value of $5,073,255.00. Following the transaction, 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 available through the SEC website. In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s 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 transaction, 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 available through this hyperlink. Also, CAO Christina Corrreia sold 647 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 $628,903.41. Following the transaction, the chief accounting officer now owns 5,541 shares in the company, valued at $5,386,018.23. The disclosure for this sale can be found here. Insiders have sold a total of 7,029 shares of company stock worth $6,559,489 in the last ninety days. Corporate insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Lam Research

Several large investors have recently bought and sold shares of LRCX. Orion Capital Management LLC bought a new position in Lam Research during the 3rd quarter valued at $25,000. BluePath Capital Management LLC bought a new stake in shares of Lam Research during the 3rd quarter worth $28,000. DSM Capital Partners LLC bought a new stake in shares of Lam Research during the 4th quarter worth $28,000. OFI Invest Asset Management bought a new stake in shares of Lam Research during the 3rd quarter worth $30,000. Finally, Asset Dedication LLC raised its stake in shares of Lam Research by 56.7% during 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 period. 84.61% of the stock is currently owned by institutional investors.

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.