Lam Research’s (LRCX) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Lam Research (NASDAQ:LRCX) in a research note published on Thursday, Benzinga reports. Needham & Company LLC currently has a $1,030.00 price target on the semiconductor company’s stock.

A number of other analysts have also issued reports on LRCX. The Goldman Sachs Group lifted their price target on shares of Lam Research from $700.00 to $912.00 and gave the stock a buy rating in a research note on Thursday, January 25th. B. Riley raised Lam Research from a neutral rating to a buy rating and boosted their price objective for the company from $870.00 to $1,100.00 in a report on Friday, April 19th. Evercore ISI started coverage on Lam Research in a report on Tuesday, April 16th. They set an outperform rating and a $1,200.00 target price on the stock. Barclays boosted their price target on Lam Research from $750.00 to $825.00 and gave the company an equal weight rating in a report on Thursday, January 25th. Finally, Mizuho raised their price objective on Lam Research from $900.00 to $935.00 and gave the stock a buy rating in a research note on Thursday, January 25th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $950.85.

Lam Research Stock Performance

Shares of LRCX stock opened at $901.47 on Thursday. 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 company’s fifty day moving average price is $943.68 and its two-hundred day moving average price is $807.04. The firm has a market capitalization of $118.18 billion, a P/E ratio of 33.15, a P/E/G ratio of 3.20 and a beta of 1.51. Lam Research has a 12 month low of $493.42 and a 12 month high of $1,007.39.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results 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 45.76% and a net margin of 25.35%. The business had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the previous year, the firm posted $6.99 earnings per share. The company’s revenue was down 2.0% compared to the same quarter last year. On average, research analysts anticipate that Lam Research will post 28.96 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were issued a $2.00 dividend. 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 29.42%.

Insiders Place Their Bets

In related news, CAO Christina Corrreia sold 647 shares of the company’s stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 5,541 shares in the company, valued at $5,386,018.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction on Monday, March 18th. The shares were 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 in the company, valued at approximately $20,380,648.95. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Christina Corrreia sold 647 shares of the firm’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 completion of the sale, the chief accounting officer now owns 5,541 shares in the company, valued at $5,386,018.23. The disclosure for this sale can be found here. Insiders sold 7,029 shares of company stock valued at $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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Whale Capital LLP raised its stake in shares of Lam Research by 0.7% in the third quarter. Blue Whale Capital LLP now owns 112,300 shares of the semiconductor company’s stock valued at $70,386,000 after purchasing an additional 800 shares in the last quarter. Everence Capital Management Inc. raised its stake in shares of Lam Research by 54.7% in the 4th quarter. Everence Capital Management Inc. now owns 4,073 shares of the semiconductor company’s stock valued at $3,190,000 after buying an additional 1,440 shares in the last quarter. Gradient Investments LLC lifted its holdings in shares of Lam Research by 32,411.1% during the 4th quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock worth $11,459,000 after acquiring an additional 14,585 shares during the period. Contravisory Investment Management Inc. acquired a new stake in shares of Lam Research during the 4th quarter valued at about $7,930,000. Finally, Treasurer of the State of North Carolina increased its stake in Lam Research by 0.9% in the third quarter. Treasurer of the State of North Carolina now owns 63,809 shares of the semiconductor company’s stock valued at $39,994,000 after acquiring an additional 560 shares during the period. 84.61% of the stock is currently owned by 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.