Lam Research (NASDAQ:LRCX) Rating Increased to Buy at B. Riley

B. Riley upgraded shares of Lam Research (NASDAQ:LRCX) from a neutral rating to a buy rating in a research note released on Friday morning, Marketbeat reports. The brokerage currently has $1,100.00 price target on the semiconductor company’s stock, up from their previous price target of $870.00.

A number of other analysts have also recently weighed in on the stock. Needham & Company LLC raised their target price on shares of Lam Research from $900.00 to $1,030.00 and gave the stock a buy rating in a report on Thursday, April 18th. Stifel Nicolaus upped their target price on Lam Research from $950.00 to $1,050.00 and gave the company a buy rating in a report on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft started coverage on Lam Research in a report on Thursday, April 11th. They set a hold rating and a $1,000.00 target price for the company. Wells Fargo & Company upped their target price on Lam Research from $930.00 to $980.00 and gave the company an equal weight rating in a report on Tuesday, April 2nd. Finally, Mizuho boosted their price target on shares of Lam Research from $900.00 to $935.00 and gave the company a buy rating in a report on Thursday, January 25th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $931.85.

Lam Research Trading Down 0.3 %

NASDAQ:LRCX opened at $868.07 on Friday. Lam Research has a 1 year low of $493.42 and a 1 year high of $1,007.39. The stock has a market cap of $113.80 billion, a price-to-earnings ratio of 33.57, a PEG ratio of 3.15 and a beta of 1.51. The business has a fifty day moving average of $944.64 and a 200-day moving average of $804.00. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.06 by $0.46. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The company had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter in the prior year, the business posted $10.71 earnings per share. The company’s revenue for the quarter was down 28.8% compared to the same quarter last year. Equities analysts predict that Lam Research will post 28.92 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date was Tuesday, March 12th. Lam Research’s dividend payout ratio (DPR) is presently 30.94%.

Insiders Place Their Bets

In related news, CAO Christina Corrreia sold 647 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 $628,903.41. Following the transaction, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the sale, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Abhijit Y. Talwalkar sold 882 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 $857,330.46. Following the completion of the transaction, the director now owns 10,541 shares in the company, valued at approximately $10,246,168.23. The disclosure for this sale can be found here. Insiders have sold 7,029 shares of company stock worth $6,559,489 over the last ninety days. Corporate insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Lam Research

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Lam Research by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 11,711,747 shares of the semiconductor company’s stock worth $9,173,343,000 after buying an additional 79,581 shares in the last quarter. Fisher Asset Management LLC grew its position in Lam Research by 3.0% during the 4th quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock worth $2,329,037,000 after acquiring an additional 86,721 shares during the last quarter. Morgan Stanley increased its holdings in Lam Research by 3.2% in the 3rd quarter. Morgan Stanley now owns 1,857,918 shares of the semiconductor company’s stock worth $1,164,490,000 after purchasing an additional 56,824 shares in the last quarter. Norges Bank bought a new position in Lam Research in the fourth quarter valued at about $1,414,111,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Lam Research by 10.8% during the third quarter. Bank of New York Mellon Corp now owns 1,642,367 shares of the semiconductor company’s stock valued at $1,029,386,000 after purchasing an additional 159,815 shares in the last quarter. 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.