Lam Research (NASDAQ:LRCX) Price Target Raised to $960.00 at Mizuho

Lam Research (NASDAQ:LRCX) had its price objective boosted by Mizuho from $935.00 to $960.00 in a research report report published on Thursday, Benzinga reports. Mizuho currently has a buy rating on the semiconductor company’s stock.

LRCX has been the subject of a number of other research reports. Raymond James lifted their target price on shares of Lam Research from $850.00 to $950.00 and gave the company an outperform rating in a research note on Thursday, January 25th. B. Riley upgraded shares of Lam Research from a neutral rating to a buy rating and boosted their price objective for the stock from $870.00 to $1,100.00 in a research report on Friday, April 19th. Citigroup boosted their price objective on shares of Lam Research from $800.00 to $975.00 and gave the stock a buy rating in a research report on Thursday, January 25th. UBS Group boosted their price objective on shares of Lam Research from $885.00 to $1,130.00 and gave the stock a buy rating in a research report on Tuesday, March 5th. Finally, Evercore ISI initiated coverage on shares of Lam Research in a research report on Tuesday, April 16th. They issued an outperform rating and a $1,200.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $950.85.

Lam Research Stock Up 1.9 %

NASDAQ LRCX opened at $901.47 on Thursday. The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61. The stock’s 50 day moving average is $943.68 and its two-hundred day moving average is $807.04. The company has a market capitalization of $118.18 billion, a price-to-earnings ratio of 33.15, a PEG ratio of 3.20 and a beta of 1.51. Lam Research has a 1-year low of $493.42 and a 1-year high of $1,007.39.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53. Lam Research had a net margin of 25.35% and a return on equity of 45.76%. The company had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the previous year, the company posted $6.99 earnings per share. Lam Research’s quarterly revenue was down 2.0% compared to the same quarter last year. Equities analysts forecast that Lam Research will post 28.96 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

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

Insiders Place Their Bets

In other news, CAO Christina Corrreia sold 647 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of the transaction, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Abhijit Y. Talwalkar sold 882 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $857,330.46. Following the sale, the director now directly owns 10,541 shares in the company, valued at approximately $10,246,168.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Christina Corrreia sold 647 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following 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. In the last ninety days, insiders sold 7,029 shares of company stock valued at $6,559,489. Corporate insiders own 0.32% of the company’s stock.

Institutional Trading of Lam Research

Several institutional investors and hedge funds have recently bought and sold shares of the company. Arlington Trust Co LLC increased its holdings in shares of Lam Research by 7.7% in the 4th quarter. Arlington Trust Co LLC now owns 182 shares of the semiconductor company’s stock worth $143,000 after buying an additional 13 shares during the last quarter. Capital Performance Advisors LLP increased its holdings in shares of Lam Research by 2.2% in the 4th 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 increased its holdings in shares of Lam Research by 0.5% in the 4th quarter. Van Leeuwen & Company LLC now owns 2,583 shares of the semiconductor company’s stock worth $2,023,000 after buying an additional 13 shares during the last quarter. Busey Bank increased its holdings in shares of Lam Research by 1.5% in the 1st quarter. Busey Bank now owns 869 shares of the semiconductor company’s stock worth $844,000 after buying an additional 13 shares during the last quarter. Finally, First Affirmative Financial Network increased its holdings 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 worth $510,000 after buying an additional 13 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

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.