Needham & Company LLC Boosts Lam Research (NASDAQ:LRCX) Price Target to $325.00

Lam Research (NASDAQ:LRCX) had its price objective lifted by Needham & Company LLC from $280.00 to $325.00 in a report issued on Tuesday morning, BenzingaRatingsTable reports. The firm currently has a buy rating on the semiconductor company’s stock.

A number of other brokerages have also recently commented on LRCX. Wells Fargo & Co upped their price target on Lam Research from $235.00 to $290.00 and gave the stock an equal weight rating in a research report on Friday, December 20th. Stifel Nicolaus upped their price target on Lam Research from $284.00 to $319.00 and gave the stock a buy rating in a research report on Tuesday, November 12th. Nomura upped their price target on Lam Research from $216.00 to $225.00 and gave the stock a neutral rating in a research report on Thursday, October 24th. Zacks Investment Research cut Lam Research from a buy rating to a hold rating and set a $273.00 price target for the company. in a research report on Monday, October 14th. Finally, DA Davidson upped their price target on Lam Research to $250.00 and gave the stock a neutral rating in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Lam Research currently has a consensus rating of Hold and an average price target of $274.80.

LRCX traded down $7.21 during midday trading on Tuesday, reaching $305.21. The company had a trading volume of 1,054,461 shares, compared to its average volume of 1,172,880. The company has a quick ratio of 2.99, a current ratio of 3.59 and a debt-to-equity ratio of 0.76. The business has a 50-day moving average of $292.31 and a two-hundred day moving average of $246.42. The company has a market cap of $45.17 billion, a P/E ratio of 22.47, a P/E/G ratio of 1.51 and a beta of 1.64. Lam Research has a 1 year low of $150.02 and a 1 year high of $315.36.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $3.18 EPS for the quarter, topping analysts’ consensus estimates of $3.01 by $0.17. The business had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.17 billion. Lam Research had a return on equity of 43.11% and a net margin of 22.38%. The business’s quarterly revenue was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.36 earnings per share. On average, equities research analysts predict that Lam Research will post 15.2 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend was Tuesday, December 10th. Lam Research’s dividend payout ratio is currently 31.62%.

In related news, CFO Douglas R. Bettinger sold 18,693 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $279.03, for a total transaction of $5,215,907.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy Archer sold 13,026 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $295.78, for a total value of $3,852,830.28. The disclosure for this sale can be found here. Insiders have sold 73,576 shares of company stock valued at $20,803,977 in the last quarter. 0.43% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in LRCX. Allred Capital Management LLC bought a new position in Lam Research during the fourth quarter valued at approximately $30,000. Marquette Asset Management LLC bought a new position in Lam Research during the third quarter valued at approximately $35,000. HM Payson & Co. bought a new position in Lam Research during the second quarter valued at approximately $36,000. Doyle Wealth Management bought a new position in Lam Research during the second quarter valued at approximately $42,000. Finally, Corbenic Partners LLC bought a new position in Lam Research during the fourth quarter valued at approximately $47,000. 86.90% of the stock is owned by institutional investors.

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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Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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