Lam Research (NASDAQ:LRCX) Shares Gap Up to $942.04

Lam Research Co. (NASDAQ:LRCX - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $942.04, but opened at $971.66. Lam Research shares last traded at $946.69, with a volume of 330,408 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LRCX. Citigroup boosted their target price on shares of Lam Research from $975.00 to $1,025.00 and gave the company a "buy" rating in a research note on Thursday, April 25th. Jefferies Financial Group began coverage on shares of Lam Research in a research note on Monday, May 13th. They set a "buy" rating and a $1,100.00 target price for the company. Stifel Nicolaus boosted their target price on shares of Lam Research from $950.00 to $1,050.00 and gave the company a "buy" rating in a research note on Tuesday, April 16th. Evercore ISI began coverage on shares of Lam Research in a research note on Tuesday, April 16th. They set an "outperform" rating and a $1,200.00 target price for the company. Finally, B. Riley raised shares of Lam Research from a "neutral" rating to a "buy" rating and boosted their target price for the company from $870.00 to $1,100.00 in a research note on Friday, April 19th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $957.95.

Lam Research Trading Up 2.3 %

The company has a current ratio of 2.82, a quick ratio of 1.84 and a debt-to-equity ratio of 0.56. The company has a 50-day simple moving average of $933.71 and a 200 day simple moving average of $845.44. The firm has a market cap of $126.03 billion, a PE ratio of 34.65, a price-to-earnings-growth ratio of 2.83 and a beta of 1.51.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, topping the consensus estimate of $7.26 by $0.53. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The business had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the prior year, the firm posted $6.99 EPS. The business's quarterly revenue was down 2.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Lam Research Co. will post 29.67 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Tuesday, June 18th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Tuesday, June 18th. Lam Research's dividend payout ratio is currently 29.42%.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the transaction, the senior vice president now directly owns 22,095 shares of the company's stock, valued at approximately $20,380,648.95. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the business's stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the transaction, the senior vice president now directly owns 22,095 shares of the company's stock, valued at $20,380,648.95. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider George M. Schisler sold 400 shares of the business's stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $908.21, for a total value of $363,284.00. Following the transaction, the insider now directly owns 5,661 shares of the company's stock, valued at $5,141,376.81. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,489 shares of company stock valued at $6,978,065. 0.32% of the stock is owned by insiders.

Hedge Funds Weigh In On Lam Research

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. DSM Capital Partners LLC acquired a new position in Lam Research in the fourth quarter valued at approximately $28,000. Valued Wealth Advisors LLC purchased a new stake in Lam Research in the fourth quarter valued at approximately $30,000. Orion Capital Management LLC purchased a new stake in Lam Research in the third quarter valued at approximately $25,000. Partnership Wealth Management LLC purchased a new stake in Lam Research in the fourth quarter valued at approximately $33,000. Finally, Ulland Investment Advisors LLC purchased a new stake in Lam Research in the first quarter valued at approximately $42,000. 84.61% of the stock is owned by institutional investors and hedge funds.

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.