Lam Research (NASDAQ:LRCX) Stock Price Up 3.5% After Analyst Upgrade

Lam Research Corporation (NASDAQ:LRCX) traded up 3.5% during trading on Thursday after B. Riley Financial raised their price target on the stock from $350.00 to $390.00. B. Riley Financial currently has a buy rating on the stock. Lam Research traded as high as $341.64 and last traded at $340.10. Approximately 8,543,648 shares changed hands during mid-day trading, a decline of 21% from the average session volume of 10,807,813 shares. The stock had previously closed at $328.51.

LRCX has been the topic of a number of other research reports. Bank of America raised their price target on shares of Lam Research from $330.00 to $480.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Citigroup reiterated a “buy” rating and set a $450.00 target price (up from $315.00) on shares of Lam Research in a report on Wednesday, June 17th. HSBC reissued a “hold” rating and issued a $333.00 target price on shares of Lam Research in a research note on Monday, July 27th. Berenberg Bank set a $420.00 price target on Lam Research in a report on Wednesday, September 9th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $400.00 price target (up from $330.00) on shares of Lam Research in a research report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $364.01.

Insider Transactions at Lam Research

In other news, Director Abhijit Talwalkar sold 18,282 shares of Lam Research stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $335.00, for a total transaction of $6,124,470.00. Following the sale, the director owned 87,142 shares of the company’s stock, valued at approximately $29,192,570. The trade was a 17.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bethany Mayer sold 9,557 shares of the stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $314.74, for a total transaction of $3,007,970.18. Following the completion of the transaction, the director directly owned 20,995 shares of the company’s stock, valued at approximately $6,607,966.30. The trade was a 31.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 32,839 shares of company stock valued at $10,644,740. Company insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Lam Research

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp lifted its position in Lam Research by 2.6% during the second quarter. State Street Corp now owns 60,704,130 shares of the semiconductor company’s stock valued at $26,320,468,000 after buying an additional 1,545,830 shares during the period. Bank of America Corp DE grew its position in shares of Lam Research by 5.5% in the 2nd quarter. Bank of America Corp DE now owns 11,244,147 shares of the semiconductor company’s stock worth $4,872,426,000 after buying an additional 584,489 shares during the period. Van ECK Associates Corp grew its position in shares of Lam Research by 411.8% in the 2nd quarter. Van ECK Associates Corp now owns 11,089,395 shares of the semiconductor company’s stock worth $4,805,368,000 after buying an additional 8,922,854 shares during the period. Invesco Ltd. increased its stake in shares of Lam Research by 7.7% in the 4th quarter. Invesco Ltd. now owns 22,821,354 shares of the semiconductor company’s stock worth $3,906,559,000 after acquiring an additional 1,638,406 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Lam Research during the 2nd quarter valued at about $3,777,585,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Stock Performance

The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.91 and a current ratio of 2.63. The business’s 50-day moving average is $304.85 and its 200-day moving average is $301.04. The company has a market capitalization of $425.61 billion, a PE ratio of 59.05, a PEG ratio of 1.28 and a beta of 1.85.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, July 29th. The semiconductor company reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.13. Lam Research had a net margin of 31.27% and a return on equity of 67.60%. The business had revenue of $6.72 billion for the quarter, compared to analysts’ expectations of $6.66 billion. During the same quarter in the prior year, the company earned $1.33 earnings per share. The business’s revenue was up 30.0% compared to the same quarter last year. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. On average, research analysts anticipate that Lam Research Corporation will post 9.32 earnings per share for the current year.

Lam Research Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Wednesday, September 23rd will be given a dividend of $0.33 per share. This is a boost from Lam Research’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a $1.32 dividend on an annualized basis and a yield of 0.4%. Lam Research’s dividend payout ratio is 22.92%.

About Lam Research

Lam Research Corporation is a semiconductor equipment company that designs, manufactures, and services systems used in the fabrication of integrated circuits and other electronic devices. Its equipment supports key steps in the wafer manufacturing process, helping semiconductor producers create increasingly small and complex features on silicon wafers.

The company’s portfolio includes systems for etch, deposition, wafer cleaning, surface preparation, and related manufacturing processes.