Lam Research (NASDAQ:LRCX) Price Target Raised to $1,030.00 at Needham & Company LLC

Lam Research (NASDAQ:LRCX - Free Report) had its price objective hoisted by Needham & Company LLC from $900.00 to $1,030.00 in a research note released on Thursday morning, MarketBeat reports. Needham & Company LLC currently has a buy rating on the semiconductor company's stock.

LRCX has been the topic of several other research reports. UBS Group upped their price target on Lam Research from $885.00 to $1,130.00 and gave the stock a buy rating in a report on Tuesday, March 5th. TD Cowen raised their price target on shares of Lam Research from $710.00 to $975.00 and gave the company an outperform rating in a research report on Thursday, January 25th. Evercore ISI began coverage on shares of Lam Research in a report on Tuesday. They set an outperform rating and a $1,200.00 price target on the stock. Raymond James increased their price objective 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. Finally, Barclays boosted their target price on Lam Research from $750.00 to $825.00 and gave the stock an equal weight rating in a research note on Thursday, January 25th. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $881.45.

Lam Research Stock Down 2.6 %

Shares of NASDAQ:LRCX traded down $23.34 during trading on Thursday, reaching $888.92. 2,307,345 shares of the stock were exchanged, compared to its average volume of 1,043,642. Lam Research has a 1-year low of $482.74 and a 1-year high of $1,007.39. The stock has a fifty day moving average of $946.27 and a two-hundred day moving average of $798.17. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02. The firm has a market cap of $116.54 billion, a price-to-earnings ratio of 34.37, a price-to-earnings-growth ratio of 3.49 and a beta of 1.51.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, beating analysts' consensus estimates of $7.06 by $0.46. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The firm had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same period last year, the firm earned $10.71 earnings per share. The business's quarterly revenue was down 28.8% compared to the same quarter last year. Research analysts anticipate that Lam Research will post 28.9 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were paid a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 annualized dividend and a dividend yield of 0.90%. Lam Research's payout ratio is 30.94%.

Insider Activity at Lam Research

In related news, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $857,330.46. Following the completion of the transaction, the director now directly owns 10,541 shares in the company, valued at approximately $10,246,168.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, 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 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $628,903.41. Following 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,029 shares of company stock worth $6,559,489. 0.32% of the stock is owned by corporate insiders.

Institutional Trading of Lam Research

Institutional investors and hedge funds have recently bought and sold shares of the company. Hobbs Group Advisors LLC purchased a new stake in shares of Lam Research in the fourth quarter worth $27,000. DSM Capital Partners LLC bought a new stake in shares of Lam Research during the 4th quarter valued at about $28,000. Valued Wealth Advisors LLC bought a new stake in shares of Lam Research during the 4th quarter valued at about $30,000. Orion Capital Management LLC purchased a new position in shares of Lam Research during the third quarter worth about $25,000. Finally, Partnership Wealth Management LLC bought a new position in shares of Lam Research in the fourth quarter worth approximately $33,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Company Profile

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.