Stifel Nicolaus Raises Lam Research (NASDAQ:LRCX) Price Target to $1,050.00

Lam Research (NASDAQ:LRCX) had its target price raised by Stifel Nicolaus from $950.00 to $1,050.00 in a report released on Tuesday morning, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other analysts have also recently issued reports on the company. The Goldman Sachs Group raised their price target on Lam Research from $700.00 to $912.00 and gave the stock a buy rating in a research note on Thursday, January 25th. TD Cowen boosted their target price on Lam Research from $710.00 to $975.00 and gave the stock an outperform rating in a research report on Thursday, January 25th. UBS Group boosted their price objective on shares of Lam Research from $885.00 to $1,130.00 and gave the stock a buy rating in a report on Tuesday, March 5th. Cantor Fitzgerald raised their price objective on Lam Research from $900.00 to $1,100.00 and gave the company a neutral rating in a research note on Monday, April 8th. Finally, Raymond James lifted their price objective on Lam Research from $850.00 to $950.00 and gave the stock an outperform rating in a report on Thursday, January 25th. Eight 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, the company currently has an average rating of Moderate Buy and a consensus target price of $881.45.

Lam Research Price Performance

Lam Research stock opened at $888.92 on Tuesday. The company’s 50 day moving average is $946.27 and its two-hundred day moving average is $798.17. The firm has a market cap of $116.54 billion, a PE ratio of 34.37, a price-to-earnings-growth ratio of 3.30 and a beta of 1.51. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61. Lam Research has a 52-week low of $482.74 and a 52-week high of $1,007.39.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, beating the consensus estimate of $7.06 by $0.46. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The firm had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter last year, the company earned $10.71 earnings per share. The firm’s revenue was down 28.8% compared to the same quarter last year. On average, research analysts expect that Lam Research will post 28.9 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were issued 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 dividend yield of 0.90%. Lam Research’s payout ratio is currently 30.94%.

Insider Activity at Lam Research

In other Lam Research news, CAO Christina Corrreia sold 647 shares of the 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 transaction, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Abhijit Y. Talwalkar sold 882 shares of the 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 $857,330.46. Following the completion of the sale, the director now owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Christina Corrreia sold 647 shares of the firm’s 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 in the company, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,029 shares of company stock worth $6,559,489. 0.32% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lam Research

Large investors have recently made changes to their positions in the business. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its position in Lam Research by 32.6% during the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 3,698 shares of the semiconductor company’s stock worth $3,593,000 after purchasing an additional 909 shares during the period. Capital Advisors Ltd. LLC grew its stake in shares of Lam Research by 69.5% in the first quarter. Capital Advisors Ltd. LLC now owns 395 shares of the semiconductor company’s stock valued at $384,000 after buying an additional 162 shares in the last quarter. Farmers & Merchants Investments Inc. raised its holdings in shares of Lam Research by 1.2% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 2,211 shares of the semiconductor company’s stock valued at $2,148,000 after buying an additional 26 shares during the period. Miracle Mile Advisors LLC grew its holdings in Lam Research by 2.0% during the 1st quarter. Miracle Mile Advisors LLC now owns 752 shares of the semiconductor company’s stock valued at $731,000 after purchasing an additional 15 shares in the last quarter. Finally, Little House Capital LLC raised its holdings in shares of Lam Research by 8.0% during the first quarter. Little House Capital LLC now owns 1,262 shares of the semiconductor company’s stock worth $1,226,000 after purchasing an additional 94 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

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.