B. Riley Increases Lam Research (NASDAQ:LRCX) Price Target to $1,325.00 – MarketBeat
Lam Research (NASDAQ:LRCX – Free Report) had its price target hoisted by B. Riley from $1,130.00 to $1,325.00 in a research report released on Thursday, Benzinga reports. B. Riley currently has a buy rating on the semiconductor company’s stock.
Several other equities analysts also recently commented on LRCX. UBS Group boosted their target price on shares of Lam Research from $1,130.00 to $1,150.00 and gave the stock a buy rating in a 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 company an equal weight rating in a report on Monday. TD Cowen lifted their target price on Lam Research from $975.00 to $1,000.00 and gave the stock a buy rating in a report on Thursday, April 25th. Jefferies Financial Group started coverage on Lam Research in a research note on Monday, May 13th. They set a buy rating and a $1,100.00 price target for the company. Finally, Citigroup lifted their price objective on Lam Research from $975.00 to $1,025.00 and gave the stock a buy rating in a research note on Thursday, April 25th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $981.29.
Get Our Latest Stock Analysis on LRCX
LRCX stock traded down $28.27 during midday trading on Thursday, reaching $1,061.31. 1,461,273 shares of the company’s stock traded hands, compared to its average volume of 1,019,636. The company has a current ratio of 2.82, a quick ratio of 1.84 and a debt-to-equity ratio of 0.56. Lam Research has a 52-week low of $574.42 and a 52-week high of $1,101.81. The stock has a market cap of $138.76 billion, a P/E ratio of 39.03, a PEG ratio of 3.76 and a beta of 1.46. The stock’s 50-day moving average is $948.88 and its 200 day moving average is $891.27.
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 issued to shareholders after the market closes on Wednesday, October 2nd.
Lam Research (NASDAQ:LRCX – Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53. The business had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the firm earned $6.99 earnings per share. As a group, analysts anticipate that Lam Research will post 29.67 EPS for the current year.
Lam Research declared that its Board of Directors has approved a stock buyback plan on Tuesday, May 21st that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 8.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
The firm 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 dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date is Tuesday, June 18th. Lam Research’s dividend payout ratio is currently 29.42%.
In related news, insider George M. Schisler sold 400 shares of Lam Research 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 completion of the sale, the insider now owns 5,661 shares in the company, valued at approximately $5,141,376.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider George M. Schisler sold 400 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $908.21, for a total value 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 legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Patrick J. Lord sold 60 shares of Lam Research stock in a transaction on Monday, April 29th. The shares were sold at an average price of $921.54, for a total value of $55,292.40. Following the sale, the executive vice president now directly owns 4,454 shares of the company’s stock, valued at $4,104,539.16. The disclosure for this sale can be found here. Insiders have sold a total of 1,989 shares of company stock worth $1,904,810 over the last quarter. Company insiders own 0.32% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Orion Capital Management LLC bought a new position in shares of Lam Research during the 3rd quarter worth approximately $25,000. DSM Capital Partners LLC purchased a new stake in shares of Lam Research during the fourth quarter worth about $28,000. Asset Dedication LLC boosted its stake in Lam Research by 56.7% in the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 17 shares in the last quarter. Valued Wealth Advisors LLC acquired a new stake in shares of Lam Research during the fourth quarter worth $30,000. Finally, Partnership Wealth Management LLC purchased a new stake in shares of Lam Research during the fourth quarter valued at $33,000. 84.61% of the stock is currently owned by institutional investors.
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.
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