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

Lam Research (NASDAQ:LRCX) had its price target boosted by Mizuho from $935.00 to $960.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Several other brokerages also recently issued reports on LRCX. Citigroup increased their price target on Lam Research from $800.00 to $975.00 and gave the stock a buy rating in a report on Thursday, January 25th. UBS Group upped their price objective on Lam Research from $885.00 to $1,130.00 and gave the stock a buy rating in a research report on Tuesday, March 5th. Cantor Fitzgerald upped their price objective on Lam Research from $900.00 to $1,100.00 and gave the stock a neutral rating in a research report on Monday, April 8th. Raymond James upped their price objective on Lam Research from $850.00 to $950.00 and gave the stock an outperform rating in a research report on Thursday, January 25th. Finally, Stifel Nicolaus upped their price objective on Lam Research from $950.00 to $1,050.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $950.85.

Lam Research Trading Up 1.9 %

NASDAQ LRCX opened at $901.47 on Thursday. The stock has a 50-day simple moving average of $943.68 and a 200 day simple moving average of $807.04. The company has a market capitalization of $118.18 billion, a PE ratio of 33.15, a P/E/G ratio of 3.20 and a beta of 1.51. The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61. Lam Research has a 12 month low of $493.42 and a 12 month high of $1,007.39.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data 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 the consensus estimate of $3.72 billion. Lam Research had a return on equity of 45.76% and a net margin of 25.35%. The firm’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.99 earnings per share. Research analysts forecast that Lam Research will post 28.96 EPS for the current 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 given a dividend of $2.00 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 annualized dividend and a yield of 0.89%. Lam Research’s payout ratio is presently 29.42%.

Insider Buying and Selling at Lam Research

In other Lam Research 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 transaction 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 $20,380,648.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Christina Corrreia sold 647 shares of the company’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 $628,903.41. Following the sale, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction dated 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 directly owns 22,095 shares in the company, valued at $20,380,648.95. The disclosure for this sale can be found here. Insiders sold a total of 7,029 shares of company stock worth $6,559,489 over the last three months. 0.32% of the stock is owned by insiders.

Institutional Trading of Lam Research

Hedge funds and other institutional investors have recently modified their holdings of the business. DSM Capital Partners LLC bought a new position in Lam Research in the 4th quarter worth about $28,000. Valued Wealth Advisors LLC bought a new position in Lam Research in the 4th quarter worth about $30,000. Orion Capital Management LLC bought a new position in Lam Research during the 3rd quarter valued at about $25,000. Partnership Wealth Management LLC bought a new position in Lam Research during the 4th quarter valued at about $33,000. Finally, Ulland Investment Advisors LLC bought a new position in Lam Research during the 1st quarter valued at about $42,000. 84.61% of the stock is owned by hedge funds and other 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.