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

Lam Research (NASDAQ:LRCX) had its target price lifted by Mizuho from $935.00 to $960.00 in a report issued on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

Several other brokerages also recently issued reports on LRCX. Cantor Fitzgerald raised their target price on shares of Lam Research from $900.00 to $1,100.00 and gave the company a neutral rating in a research note on Monday, April 8th. Evercore ISI assumed coverage on 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. UBS Group boosted their target price on Lam Research from $885.00 to $1,130.00 and gave the stock a buy rating in a report on Tuesday, March 5th. Raymond James raised their price target on Lam Research from $850.00 to $950.00 and gave the company an outperform rating in a report on Thursday, January 25th. Finally, Barclays increased their price objective on shares of Lam Research from $750.00 to $825.00 and gave the company an equal weight rating in a research report on Thursday, January 25th. Six investment 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 company currently has an average rating of Moderate Buy and an average price target of $950.85.

Lam Research Stock Up 2.7 %

NASDAQ:LRCX opened at $925.37 on Thursday. Lam Research has a twelve month low of $493.42 and a twelve month high of $1,007.39. The firm has a market capitalization of $121.32 billion, a price-to-earnings ratio of 34.03, a price-to-earnings-growth ratio of 3.29 and a beta of 1.51. The company has a quick ratio of 2.02, a current ratio of 2.82 and a debt-to-equity ratio of 0.56. The stock’s 50 day moving average price is $943.67 and its two-hundred day moving average price is $811.51.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share 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 business had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the previous year, the company earned $6.99 earnings per share. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. Equities research analysts expect that Lam Research will post 29.54 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

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

Insider Activity at Lam Research

In other 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 completion of the sale, the director now owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Lam Research news, CAO Christina Corrreia sold 647 shares of Lam Research 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 transaction, the chief accounting officer now owns 5,541 shares in the company, valued at $5,386,018.23. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $857,330.46. Following the completion of the transaction, the director now directly owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The disclosure for this sale can be found here. Insiders sold a total of 7,029 shares of company stock valued at $6,559,489 over the last quarter. 0.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lam Research

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Whale Capital LLP increased its holdings in Lam Research by 0.7% in the 3rd quarter. Blue Whale Capital LLP now owns 112,300 shares of the semiconductor company’s stock worth $70,386,000 after purchasing an additional 800 shares in the last quarter. Everence Capital Management Inc. grew its holdings in shares of Lam Research by 54.7% during the fourth quarter. Everence Capital Management Inc. now owns 4,073 shares of the semiconductor company’s stock worth $3,190,000 after purchasing an additional 1,440 shares during the last quarter. Gradient Investments LLC increased its stake in shares of Lam Research by 32,411.1% in the fourth quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock valued at $11,459,000 after buying an additional 14,585 shares during the period. Contravisory Investment Management Inc. acquired a new position in Lam Research in the 4th quarter valued at approximately $7,930,000. Finally, Treasurer of the State of North Carolina increased its holdings in Lam Research by 0.9% in the third quarter. Treasurer of the State of North Carolina now owns 63,809 shares of the semiconductor company’s stock valued at $39,994,000 after purchasing an additional 560 shares during the period. 84.61% of the stock is owned by 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.