Lam Research (NASDAQ:LRCX) Given New $950.00 Price Target at JPMorgan Chase & Co.

Lam Research (NASDAQ:LRCX) had its target price increased by JPMorgan Chase & Co. from $900.00 to $950.00 in a research report report published on Thursday, Benzinga reports. The firm currently has an overweight rating on the semiconductor company’s stock.

Other analysts also recently issued research reports about the company. Citigroup raised their price objective on Lam Research from $800.00 to $975.00 and gave the stock a buy rating in a research report on Thursday, January 25th. Mizuho increased their target price on Lam Research from $935.00 to $960.00 and gave the stock a buy rating in a report on Thursday. TD Cowen increased their target price on Lam Research from $975.00 to $1,000.00 and gave the stock a buy rating in a report on Thursday. Raymond James raised their price target on Lam Research from $850.00 to $950.00 and gave the company an outperform rating in a report on Thursday, January 25th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $1,030.00 price target on shares of Lam Research in a report on Thursday. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $950.85.

Lam Research Price Performance

Shares of LRCX stock opened at $901.47 on Thursday. The stock has a 50 day moving average of $943.68 and a two-hundred day moving average of $807.04. 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. The company has a market capitalization of $118.18 billion, a P/E ratio of 33.15, a P/E/G ratio of 3.20 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53. Lam Research had a return on equity of 45.76% 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 last year, the company earned $6.99 EPS. The company’s quarterly revenue was down 2.0% on a year-over-year basis. As a group, equities analysts expect that Lam Research will post 28.96 EPS for the current year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were given a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 annualized dividend and a dividend yield of 0.89%. Lam Research’s dividend payout ratio is currently 29.42%.

Insiders Place Their Bets

In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $857,330.46. Following the transaction, the director now directly owns 10,541 shares in the company, valued at $10,246,168.23. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Abhijit Y. Talwalkar sold 882 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the sale, the director now directly owns 10,541 shares in the company, valued at $10,246,168.23. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Christina Corrreia sold 647 shares of the business’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 completion of the sale, 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. Over the last ninety days, insiders have sold 7,029 shares of company stock worth $6,559,489. Corporate insiders own 0.32% of the company’s stock.

Institutional Trading of Lam Research

A number of institutional investors have recently modified their holdings of LRCX. Arlington Trust Co LLC raised its holdings in Lam Research by 7.7% during the fourth quarter. Arlington Trust Co LLC now owns 182 shares of the semiconductor company’s stock worth $143,000 after acquiring an additional 13 shares in the last quarter. Capital Performance Advisors LLP increased its holdings in Lam Research by 2.2% during the fourth quarter. Capital Performance Advisors LLP now owns 613 shares of the semiconductor company’s stock worth $480,000 after buying an additional 13 shares during the last quarter. Van Leeuwen & Company LLC raised its position in Lam Research by 0.5% during the fourth quarter. Van Leeuwen & Company LLC now owns 2,583 shares of the semiconductor company’s stock worth $2,023,000 after acquiring an additional 13 shares in the last quarter. Busey Bank lifted its stake in Lam Research by 1.5% in the first quarter. Busey Bank now owns 869 shares of the semiconductor company’s stock valued at $844,000 after acquiring an additional 13 shares during the last quarter. Finally, First Affirmative Financial Network grew its position in shares of Lam Research by 2.5% in the 1st quarter. First Affirmative Financial Network now owns 525 shares of the semiconductor company’s stock valued at $510,000 after acquiring an additional 13 shares during the period. 84.61% of the stock is currently 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. 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.