Oppenheimer assumed coverage on shares of Lam Research (NASDAQ:LRCX - Free Report) in a report issued on Thursday morning. The brokerage issued an outperform rating and a $95.00 price target on the semiconductor company's stock.
A number of other research analysts also recently issued reports on LRCX. Mizuho boosted their price objective on Lam Research from $87.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Morgan Stanley increased their price target on Lam Research from $76.00 to $78.00 and gave the stock an "equal weight" rating in a report on Thursday, December 5th. Needham & Company LLC reaffirmed a "buy" rating and set a $90.00 price objective on shares of Lam Research in a research report on Thursday, January 30th. The Goldman Sachs Group dropped their target price on shares of Lam Research from $96.00 to $85.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Finally, Susquehanna upgraded shares of Lam Research from a "neutral" rating to a "positive" rating and raised their price target for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $98.06.
Check Out Our Latest Analysis on Lam Research
Lam Research Trading Up 2.8 %
LRCX stock traded up $2.15 during trading on Thursday, hitting $77.99. The company had a trading volume of 7,951,352 shares, compared to its average volume of 11,071,081. The stock has a market cap of $100.11 billion, a PE ratio of 23.69, a PEG ratio of 1.47 and a beta of 1.53. The business has a 50-day moving average of $79.70 and a 200-day moving average of $77.30. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. Lam Research has a one year low of $68.87 and a one year high of $113.00.
Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Research analysts predict that Lam Research will post 3.71 earnings per share for the current fiscal year.
Lam Research Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.18%. Lam Research's payout ratio is 27.96%.
Insider Activity at Lam Research
In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the sale, the senior vice president now directly owns 179,084 shares of the company's stock, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.29% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of LRCX. Financial Perspectives Inc boosted its holdings in shares of Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock worth $25,000 after buying an additional 309 shares during the last quarter. Fairway Wealth LLC raised its position in Lam Research by 900.0% in the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 306 shares during the period. Atwood & Palmer Inc. purchased a new position in Lam Research in the fourth quarter valued at about $27,000. Midwest Capital Advisors LLC bought a new position in shares of Lam Research during the 4th quarter valued at approximately $27,000. Finally, West Paces Advisors Inc. bought a new stake in shares of Lam Research in the 4th quarter worth approximately $27,000. Hedge funds and other institutional investors own 84.61% of the company's stock.
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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