Lam Research (NASDAQ:LRCX) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Lam Research (NASDAQ:LRCX) from a hold rating to a buy rating in a report issued on Friday.

A number of other equities analysts have also commented on LRCX. Evercore ISI assumed coverage on shares of Lam Research in a research note on Tuesday, April 16th. They issued an outperform rating and a $1,200.00 price objective for the company. B. Riley raised shares of Lam Research from a neutral rating to a buy rating and lifted their target price for the company from $870.00 to $1,100.00 in a research note on Friday, April 19th. UBS Group lifted their target price on shares of Lam Research from $1,130.00 to $1,150.00 and gave the company a buy rating in a research note on Thursday. Mizuho lifted their target price on shares of Lam Research from $935.00 to $960.00 and gave the company a buy rating in a research note on Thursday. Finally, TD Cowen lifted their target price on shares of Lam Research from $975.00 to $1,000.00 and gave the company a buy rating in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $950.85.

Lam Research Trading Up 2.7 %

Lam Research stock opened at $925.37 on Friday. The company has a 50 day moving average price of $943.67 and a 200 day moving average price of $809.10. Lam Research has a 52 week low of $493.42 and a 52 week high of $1,007.39. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.02 and a current ratio of 2.82. The firm has a market capitalization of $121.32 billion, a price-to-earnings ratio of 34.03, a P/E/G ratio of 3.20 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last posted 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 net margin of 25.35% and a return on equity of 45.96%. The firm had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter last year, the business posted $6.99 EPS. The company’s revenue was down 2.0% on a year-over-year basis. Research analysts forecast that Lam Research will post 29.46 EPS for the current year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were issued a $2.00 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 annualized dividend and a yield of 0.86%. Lam Research’s dividend payout ratio (DPR) is presently 29.42%.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction on Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the transaction, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, 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 transaction of $628,903.41. Following the transaction, the chief accounting officer now owns 5,541 shares in the company, valued at approximately $5,386,018.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the business’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 transaction, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. Insiders have sold 7,029 shares of company stock worth $6,559,489 in the last quarter. 0.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Orion Capital Management LLC acquired a new stake in shares of Lam Research during the 3rd quarter valued at about $25,000. BluePath Capital Management LLC acquired a new stake in shares of Lam Research during the 3rd quarter valued at about $28,000. DSM Capital Partners LLC acquired a new stake in shares of Lam Research during the 4th quarter valued at about $28,000. OFI Invest Asset Management acquired a new stake in shares of Lam Research during the 3rd quarter valued at about $30,000. Finally, Asset Dedication LLC boosted its position in shares of Lam Research by 56.7% during the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 17 shares in the last quarter. Institutional investors own 84.61% 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. 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.