Lam Research (NASDAQ:LRCX) Reaches New 1-Year High After Analyst Upgrade

Lam Research Corporation (NASDAQ:LRCX)’s stock price hit a new 52-week high on Tuesday after Evercore ISI raised their price target on the stock from $170.00 to $241.00. Evercore ISI currently has an outperform rating on the stock. Lam Research traded as high as $236.31 and last traded at $236.5240, with a volume of 2097043 shares traded. The stock had previously closed at $222.87.

Other analysts have also issued research reports about the stock. Wells Fargo & Company set a $250.00 target price on shares of Lam Research and gave the stock an “overweight” rating in a research note on Thursday, January 15th. UBS Group reissued a “buy” rating and set a $255.00 target price (up previously from $200.00) on shares of Lam Research in a research report on Tuesday, January 20th. Hsbc Global Res raised Lam Research to a “hold” rating in a report on Tuesday, September 30th. Rothschild & Co Redburn lifted their price target on Lam Research from $150.00 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Finally, JPMorgan Chase & Co. upped their price objective on Lam Research from $113.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Lam Research has an average rating of “Moderate Buy” and a consensus price target of $202.81.

Insider Buying and Selling at Lam Research

In related news, CFO Douglas R. Bettinger sold 40,080 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $150.60, for a total transaction of $6,036,048.00. Following the sale, the chief financial officer directly owned 987,237 shares in the company, valued at approximately $148,677,892.20. This represents a 3.90% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Bethany Mayer sold 1,298 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $159.99, for a total transaction of $207,667.02. Following the sale, the director directly owned 1,652 shares in the company, valued at $264,303.48. The trade was a 44.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 41,408 shares of company stock valued at $6,248,501 in the last quarter. 0.31% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lam Research

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital Advisors Ltd. LLC grew its holdings in shares of Lam Research by 1.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 4,646 shares of the semiconductor company’s stock valued at $795,000 after purchasing an additional 51 shares during the last quarter. Financial Consulate Inc. boosted its position in Lam Research by 2.7% during the fourth quarter. Financial Consulate Inc. now owns 2,157 shares of the semiconductor company’s stock valued at $369,000 after buying an additional 57 shares during the period. Abound Wealth Management grew its stake in shares of Lam Research by 6.9% during the fourth quarter. Abound Wealth Management now owns 931 shares of the semiconductor company’s stock valued at $159,000 after buying an additional 60 shares during the last quarter. Independence Bank of Kentucky increased its holdings in shares of Lam Research by 6.0% in the fourth quarter. Independence Bank of Kentucky now owns 1,060 shares of the semiconductor company’s stock worth $181,000 after buying an additional 60 shares during the period. Finally, McLean Asset Management Corp lifted its stake in shares of Lam Research by 1.3% in the 4th quarter. McLean Asset Management Corp now owns 5,099 shares of the semiconductor company’s stock valued at $873,000 after acquiring an additional 65 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Price Performance

The firm has a fifty day moving average of $179.59 and a two-hundred day moving average of $142.73. The company has a current ratio of 2.21, a quick ratio of 1.60 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $297.22 billion, a PE ratio of 51.94, a PEG ratio of 2.76 and a beta of 1.77.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 7th. Investors of record on Wednesday, December 3rd were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Wednesday, December 3rd. Lam Research’s payout ratio is presently 22.91%.

About Lam Research

Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.

Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.