Susquehanna Lowers Lam Research (NASDAQ:LRCX) Price Target to $850.00

Lam Research (NASDAQ:LRCX - Free Report) had its price target reduced by Susquehanna from $880.00 to $850.00 in a research report released on Thursday, Benzinga reports. Susquehanna currently has a neutral rating on the semiconductor company's stock.

Other equities research analysts have also issued reports about the stock. Cantor Fitzgerald lifted their price target 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. 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 note on Friday, April 19th. Mizuho boosted their price objective on shares of Lam Research from $900.00 to $935.00 and gave the stock a buy rating in a research note on Thursday, January 25th. 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 note on Thursday, January 25th. Finally, Evercore ISI started coverage on shares of Lam Research in a research note on Tuesday, April 16th. They set an outperform rating and a $1,200.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $950.85.

Lam Research Stock Up 1.9 %

LRCX traded up $16.58 during trading hours on Thursday, hitting $901.47. 1,306,880 shares of the company's stock were exchanged, compared to its average volume of 1,071,539. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61. Lam Research has a 1-year low of $493.42 and a 1-year high of $1,007.39. The stock's 50-day moving average is $943.93 and its two-hundred day moving average is $806.38. The stock has a market cap of $118.18 billion, a price-to-earnings ratio of 34.86, a PEG ratio of 3.21 and a beta of 1.51.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.26 by $0.53. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The firm had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period in the previous year, the business earned $6.99 EPS. The company's revenue was down 2.0% compared to the same quarter last year. Sell-side analysts predict that Lam Research will post 28.96 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a yield of 0.89%. Lam Research's dividend payout ratio is currently 30.94%.

Insider Buying and Selling

In related news, CAO Christina Corrreia sold 647 shares of the business's stock in a transaction on Monday, April 1st. The stock was 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 approximately $5,386,018.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the company's stock in a transaction dated 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 sale, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Christina Corrreia sold 647 shares of the company's 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 sale, the chief accounting officer now owns 5,541 shares in the company, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. Insiders have sold 7,029 shares of company stock worth $6,559,489 in the last 90 days. Insiders own 0.32% of the company's stock.

Institutional Investors Weigh In On Lam Research

Several institutional investors and hedge funds have recently made changes to their positions in LRCX. Arlington Trust Co LLC raised its stake in Lam Research by 7.7% during 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 period. Capital Performance Advisors LLP raised its stake in Lam Research by 2.2% during 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 period. Van Leeuwen & Company LLC raised its stake in Lam Research by 0.5% during 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 period. Busey Bank raised its stake in Lam Research by 1.5% during 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 period. Finally, First Affirmative Financial Network raised its stake in Lam Research by 2.5% during 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 period. 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.