Brokerages Set Lam Research Co. (NASDAQ:LRCX) Price Target at $793.27

Lam Research Co. (NASDAQ:LRCXGet Free Report) has been given a consensus rating of “Moderate Buy” by the twenty-three research firms that are covering the company, Marketbeat reports. Eight investment analysts have rated the stock with a hold recommendation and fifteen have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $793.27.

A number of analysts have weighed in on the company. Morgan Stanley cut Lam Research from an “overweight” rating to an “equal weight” rating and set a $720.00 price target on the stock. in a research report on Friday, December 8th. Redburn Atlantic assumed coverage on Lam Research in a research note on Wednesday, November 22nd. They set a “buy” rating and a $800.00 price target on the stock. Deutsche Bank Aktiengesellschaft lowered Lam Research from a “buy” rating to a “hold” rating and upped their price target for the company from $680.00 to $725.00 in a research note on Tuesday, December 12th. TD Cowen upped their price target on Lam Research from $710.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Finally, B. Riley upped their price target on Lam Research from $690.00 to $700.00 and gave the company a “neutral” rating in a research note on Thursday, October 19th.

View Our Latest Analysis on LRCX

Lam Research Stock Up 1.5 %

LRCX opened at $851.32 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. The business has a 50 day moving average price of $771.35 and a 200 day moving average price of $696.69. The firm has a market cap of $111.61 billion, a P/E ratio of 32.92, a price-to-earnings-growth ratio of 3.01 and a beta of 1.50. Lam Research has a twelve month low of $467.02 and a twelve month high of $900.09.

Lam Research (NASDAQ:LRCXGet Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 EPS for the quarter, topping the consensus estimate of $7.06 by $0.46. The company had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.71 billion. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The company’s revenue for the quarter was down 28.8% on a year-over-year basis. During the same period in the previous year, the business posted $10.71 EPS. Research analysts forecast that Lam Research will post 28.68 EPS for the current year.

Lam Research Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 3rd. Investors of record on Wednesday, December 13th were issued a dividend of $2.00 per share. The ex-dividend date was Tuesday, December 12th. This is an increase from Lam Research’s previous quarterly dividend of $0.28. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.94%. Lam Research’s dividend payout ratio (DPR) is presently 30.94%.

Insider Buying and Selling

In related news, SVP Ava Hahn sold 2,342 shares of the stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $732.00, for a total transaction of $1,714,344.00. Following the completion of the transaction, the senior vice president now directly owns 3,433 shares in the company, valued at $2,512,956. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Timothy Archer sold 8,500 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $710.24, for a total value of $6,037,040.00. Following the completion of the sale, the chief executive officer now directly owns 86,449 shares of the company’s stock, valued at $61,399,537.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Ava Hahn sold 2,342 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $732.00, for a total value of $1,714,344.00. Following the completion of the sale, the senior vice president now directly owns 3,433 shares of the company’s stock, valued at $2,512,956. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,236 shares of company stock worth $25,375,687. 0.32% of the stock is owned by corporate insiders.

Institutional Trading of Lam Research

A number of hedge funds have recently made changes to their positions in LRCX. Baird Financial Group Inc. lifted its position in shares of Lam Research by 11.5% in the first quarter. Baird Financial Group Inc. now owns 39,514 shares of the semiconductor company’s stock valued at $21,243,000 after buying an additional 4,090 shares during the last quarter. Zions Bancorporation N.A. lifted its holdings in Lam Research by 39.1% during the 1st quarter. Zions Bancorporation N.A. now owns 281 shares of the semiconductor company’s stock worth $151,000 after purchasing an additional 79 shares during the last quarter. Brown Brothers Harriman & Co. lifted its holdings in Lam Research by 18.8% during the 1st quarter. Brown Brothers Harriman & Co. now owns 721 shares of the semiconductor company’s stock worth $388,000 after purchasing an additional 114 shares during the last quarter. Covestor Ltd lifted its holdings in Lam Research by 51.9% during the 1st quarter. Covestor Ltd now owns 322 shares of the semiconductor company’s stock worth $173,000 after purchasing an additional 110 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in Lam Research by 11.8% during the 1st quarter. Mackenzie Financial Corp now owns 233,280 shares of the semiconductor company’s stock worth $125,414,000 after purchasing an additional 24,636 shares during the last quarter. 84.08% of the stock is owned by institutional investors and hedge funds.

About Lam Research

(Get Free Report

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.

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Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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