Lam Research (NASDAQ:LRCX) Price Target Raised to $250.00

Lam Research (NASDAQ:LRCX) had its target price increased by Needham & Company LLC from $220.00 to $250.00 in a research note released on Friday, The Fly reports. Needham & Company LLC currently has a buy rating on the semiconductor company’s stock.

A number of other equities research analysts have also issued reports on the company. BidaskClub raised Lam Research from a hold rating to a buy rating in a research note on Thursday, September 5th. ValuEngine lowered Lam Research from a buy rating to a hold rating in a research report on Thursday, August 1st. Cfra set a $210.00 target price on Lam Research and gave the company a hold rating in a research report on Saturday, August 31st. Wells Fargo & Co lifted their target price on Lam Research from $195.00 to $200.00 and gave the company a market perform rating in a research report on Thursday, August 1st. Finally, Evercore ISI raised Lam Research from an in-line rating to an outperform rating in a research report on Tuesday, September 3rd. Eleven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Lam Research has an average rating of Buy and a consensus target price of $221.88.

Shares of LRCX stock opened at $234.94 on Friday. Lam Research has a 52-week low of $122.64 and a 52-week high of $237.90. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.96 and a current ratio of 3.61. The firm has a market capitalization of $33.86 billion, a P/E ratio of 16.15, a P/E/G ratio of 1.44 and a beta of 1.62. The stock has a 50 day moving average price of $210.46 and a 200 day moving average price of $193.38.



Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $3.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.40 by $0.22. Lam Research had a return on equity of 43.72% and a net margin of 22.70%. The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.37 billion. During the same period last year, the company earned $5.31 EPS. Lam Research’s quarterly revenue was down 24.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Lam Research will post 13.6 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Tuesday, October 1st will be given a dividend of $1.15 per share. The ex-dividend date is Monday, September 30th. This is a positive change from Lam Research’s previous quarterly dividend of $1.10. This represents a $4.60 dividend on an annualized basis and a yield of 1.96%. Lam Research’s payout ratio is 30.24%.

In other news, SVP Vahid Vahedi sold 12,007 shares of Lam Research stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $220.00, for a total value of $2,641,540.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Seshasayee Varadarajan sold 20,000 shares of Lam Research stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $200.00, for a total value of $4,000,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 67,997 shares of company stock valued at $14,854,855. 0.44% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the company. Global Retirement Partners LLC increased its holdings in shares of Lam Research by 119.4% in the 1st quarter. Global Retirement Partners LLC now owns 147 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 80 shares during the period. Hexavest Inc. purchased a new position in shares of Lam Research in the 2nd quarter valued at $28,000. Zions Bancorporation N.A. purchased a new position in shares of Lam Research in the 1st quarter valued at $28,000. MUFG Americas Holdings Corp increased its holdings in shares of Lam Research by 75.0% in the 2nd quarter. MUFG Americas Holdings Corp now owns 175 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 75 shares during the period. Finally, Strategy Asset Managers LLC purchased a new position in shares of Lam Research in the 1st quarter valued at $33,000. Institutional investors and hedge funds own 88.43% 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 worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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