B. Riley Raises Lam Research (NASDAQ:LRCX) Price Target to $1,325.00

Lam Research (NASDAQ:LRCXFree Report) had its price objective lifted by B. Riley from $1,130.00 to $1,325.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

LRCX has been the subject of several other reports. Evercore ISI assumed coverage on Lam Research in a research note on Tuesday, April 16th. They set an outperform rating and a $1,200.00 price target for the company. StockNews.com downgraded shares of Lam Research from a buy rating to a hold rating in a research report on Thursday, June 13th. Mizuho lifted their price target on shares of Lam Research from $935.00 to $960.00 and gave the company a buy rating in a research report on Thursday, April 25th. Wells Fargo & Company increased their price objective on shares of Lam Research from $980.00 to $1,100.00 and gave the stock an equal weight rating in a research report on Monday, June 17th. Finally, Raymond James lifted their target price on shares of Lam Research from $950.00 to $1,060.00 and gave the company an outperform rating in a report on Friday, June 7th. Seven 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 stock currently has a consensus rating of Moderate Buy and an average price target of $981.29.

Check Out Our Latest Stock Report on LRCX

Lam Research Price Performance

Lam Research stock opened at $1,050.35 on Thursday. The firm’s 50-day moving average is $950.75 and its two-hundred day moving average is $896.41. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84. The stock has a market capitalization of $137.32 billion, a P/E ratio of 38.63, a P/E/G ratio of 3.66 and a beta of 1.46. Lam Research has a 12-month low of $574.42 and a 12-month high of $1,101.81.

Lam Research’s stock is set to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly issued shares will be distributed to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCXGet Free Report) last released its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, topping the consensus estimate of $7.26 by $0.53. The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.72 billion. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the prior year, the business posted $6.99 earnings per share. Equities analysts predict that Lam Research will post 29.67 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.76%. Lam Research’s dividend payout ratio (DPR) is presently 29.42%.

Lam Research declared that its Board of Directors has authorized a stock buyback program on Tuesday, May 21st that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to purchase up to 8.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Lam Research

In other news, insider George M. Schisler sold 400 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $908.21, for a total transaction of $363,284.00. Following the transaction, the insider now owns 5,661 shares of the company’s stock, valued at $5,141,376.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Lam Research news, EVP Patrick J. Lord sold 60 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $921.54, for a total transaction of $55,292.40. Following the completion of the sale, the executive vice president now owns 4,454 shares in the company, valued at $4,104,539.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider George M. Schisler sold 400 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $908.21, for a total transaction of $363,284.00. Following the sale, the insider now directly owns 5,661 shares in the company, valued at $5,141,376.81. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,989 shares of company stock valued at $1,904,810. Insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. DSM Capital Partners LLC acquired a new stake in Lam Research in the fourth quarter worth $28,000. Valued Wealth Advisors LLC acquired a new stake in shares of Lam Research in the 4th quarter worth about $30,000. Orion Capital Management LLC acquired a new stake in shares of Lam Research in the 3rd quarter worth about $25,000. Partnership Wealth Management LLC bought a new stake in Lam Research in the 4th quarter valued at about $33,000. Finally, Ulland Investment Advisors LLC acquired a new position in Lam Research during the 1st quarter valued at about $42,000. 84.61% of the stock is owned by institutional investors and hedge funds.

About Lam Research

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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.

Further Reading

Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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