Lam Research (NASDAQ:LRCX) Price Target Raised to $120.00 at UBS Group

Lam Research (NASDAQ:LRCX - Free Report) had its price target hoisted by UBS Group from $95.00 to $120.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a buy rating on the semiconductor company's stock.

Other analysts have also recently issued reports about the stock. Wells Fargo & Company increased their price objective on shares of Lam Research from $75.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Oppenheimer reissued an "outperform" rating and issued a $110.00 price objective (up from $80.00) on shares of Lam Research in a research note on Tuesday, June 17th. Stifel Nicolaus dropped their target price on shares of Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Morgan Stanley upped their target price on shares of Lam Research from $82.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Finally, TD Cowen dropped their target price on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $100.57.

Lam Research Stock Performance

Lam Research stock traded up $1.08 during trading on Monday, hitting $101.74. The stock had a trading volume of 7,018,317 shares, compared to its average volume of 12,281,981. The stock's 50 day moving average is $91.10 and its two-hundred day moving average is $80.94. The stock has a market cap of $130.14 billion, a price-to-earnings ratio of 27.78, a price-to-earnings-growth ratio of 1.42 and a beta of 1.68. Lam Research has a 1 year low of $56.32 and a 1 year high of $102.59. The company has a quick ratio of 1.64, a current ratio of 2.45 and a debt-to-equity ratio of 0.39.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.00 by $0.04. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The firm had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period last year, the firm earned $7.79 EPS. The business's quarterly revenue was up 24.4% compared to the same quarter last year. As a group, analysts predict that Lam Research will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were given a dividend of $0.23 per share. The ex-dividend date was Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.90%. Lam Research's dividend payout ratio is currently 25.63%.

Institutional Trading of Lam Research

A number of hedge funds and other institutional investors have recently modified their holdings of LRCX. Vanguard Group Inc. boosted its stake in shares of Lam Research by 6.9% during the 1st quarter. Vanguard Group Inc. now owns 129,152,102 shares of the semiconductor company's stock worth $9,389,358,000 after acquiring an additional 8,364,375 shares in the last quarter. FMR LLC boosted its stake in Lam Research by 1,032.6% during the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock valued at $2,891,453,000 after purchasing an additional 36,496,689 shares during the period. Ameriprise Financial Inc. boosted its stake in Lam Research by 950.5% during the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock valued at $2,495,128,000 after purchasing an additional 31,255,726 shares during the period. Geode Capital Management LLC boosted its stake in Lam Research by 907.1% during the 4th quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock valued at $2,265,610,000 after purchasing an additional 28,307,499 shares during the period. Finally, Norges Bank bought a new stake in Lam Research during the 4th quarter valued at approximately $1,661,672,000. 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.