TD Cowen Increases Lam Research (NASDAQ:LRCX) Price Target to $1,000.00

Lam Research (NASDAQ:LRCX) had its price target boosted by TD Cowen from $975.00 to $1,000.00 in a research report released on Thursday, Marketbeat Ratings reports. TD Cowen currently has a buy rating on the semiconductor company’s stock.

LRCX has been the subject of a number of other research reports. The Goldman Sachs Group lifted their target price on Lam Research from $700.00 to $912.00 and gave the stock a buy rating in a report on Thursday, January 25th. Mizuho lifted their price objective on Lam Research from $900.00 to $935.00 and gave the stock a buy rating in a report on Thursday, January 25th. Susquehanna lifted their price objective on Lam Research from $655.00 to $880.00 and gave the stock a neutral rating in a report on Monday, January 29th. Deutsche Bank Aktiengesellschaft assumed coverage on Lam Research in a report on Thursday, April 11th. They issued a hold rating and a $1,000.00 price objective for the company. 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. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Lam Research presently has an average rating of Moderate Buy and an average price target of $950.85.

Lam Research Stock Up 2.7 %

Lam Research stock opened at $925.37 on Thursday. The firm has a market cap of $121.32 billion, a price-to-earnings ratio of 34.03, a PEG ratio of 3.29 and a beta of 1.51. The stock has a fifty day simple moving average of $943.67 and a two-hundred day simple moving average of $811.51. Lam Research has a 12 month low of $493.42 and a 12 month high of $1,007.39. The company has a current ratio of 2.82, a quick ratio of 2.02 and a debt-to-equity ratio of 0.56.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53. The business had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.72 billion. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $6.99 EPS. Equities analysts predict that Lam Research will post 29.54 EPS for the current fiscal year.

Lam Research Dividend Announcement

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

Insider Buying and Selling at Lam Research

In other Lam Research news, 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 completion of the sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Christina Corrreia sold 647 shares of the company’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 $628,903.41. Following the completion of 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 filing with the SEC, which is accessible through this hyperlink. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the transaction, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,029 shares of company stock valued at $6,559,489. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Lam Research

A number of hedge funds have recently made changes to their positions in LRCX. Artemis Wealth Advisors LLC purchased a new stake in shares of Lam Research in the first quarter worth about $4,858,000. LifeSteps Financial Inc. purchased a new stake in shares of Lam Research in the first quarter worth about $203,000. Mesirow Financial Investment Management Inc. purchased a new stake in shares of Lam Research in the first quarter worth about $206,000. MONECO Advisors LLC purchased a new stake in shares of Lam Research in the first quarter worth about $220,000. Finally, Terra Nova Asset Management LLC lifted its position in shares of Lam Research by 2.9% in the first quarter. Terra Nova Asset Management LLC now owns 4,538 shares of the semiconductor company’s stock worth $4,409,000 after buying an additional 128 shares in the last quarter. Institutional investors 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.