Lam Research Co. (NASDAQ:LRCX)’s stock price gapped up before the market opened on Friday after Bank of America raised their price target on the stock from $350.00 to $380.00. The stock had previously closed at $303.50, but opened at $310.95. Bank of America currently has a buy rating on the stock. Lam Research shares last traded at $299.59, with a volume of 1,423,990 shares trading hands.
Several other equities analysts also recently commented on the stock. Deutsche Bank upped their price objective on shares of Lam Research from $260.00 to $320.00 and gave the company a “hold” rating in a research note on Monday, January 27th. Citigroup upped their price objective on shares of Lam Research from $360.00 to $363.00 and gave the company a “buy” rating in a research note on Thursday. DA Davidson raised shares of Lam Research from a “neutral” rating to a “buy” rating and set a $350.00 price objective for the company in a research note on Thursday. Zacks Investment Research downgraded shares of Lam Research from a “buy” rating to a “hold” rating and set a $273.00 price objective for the company. in a research note on Monday, October 14th. Finally, B. Riley upped their price objective on shares of Lam Research from $360.00 to $365.00 and gave the company a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $321.29.
In other Lam Research news, SVP Sarah A. O’dowd sold 3,831 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $287.80, for a total transaction of $1,102,561.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy Archer sold 13,026 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $295.78, for a total transaction of $3,852,830.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,262 shares of company stock valued at $13,209,019. 0.43% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Allred Capital Management LLC bought a new position in shares of Lam Research during the fourth quarter valued at approximately $30,000. Marquette Asset Management LLC bought a new position in shares of Lam Research during the third quarter valued at approximately $35,000. Corbenic Partners LLC bought a new position in shares of Lam Research during the fourth quarter valued at approximately $47,000. Northwest Investment Counselors LLC bought a new position in shares of Lam Research during the third quarter valued at approximately $49,000. Finally, Tarbox Family Office Inc. increased its stake in shares of Lam Research by 40.5% during the fourth quarter. Tarbox Family Office Inc. now owns 184 shares of the semiconductor company’s stock valued at $54,000 after purchasing an additional 53 shares in the last quarter. 86.43% of the stock is owned by institutional investors and hedge funds.
The stock’s 50 day simple moving average is $297.40 and its two-hundred day simple moving average is $251.14. The firm has a market cap of $43.27 billion, a P/E ratio of 22.09, a P/E/G ratio of 1.44 and a beta of 1.64. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.59 and a quick ratio of 2.99.
Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, January 29th. The semiconductor company reported $4.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.85 by $0.16. Lam Research had a net margin of 21.67% and a return on equity of 44.36%. The business had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter last year, the firm earned $3.87 earnings per share. The business’s revenue for the quarter was up 19.3% on a year-over-year basis. Equities research analysts anticipate that Lam Research Co. will post 15.27 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend was Tuesday, December 10th. Lam Research’s payout ratio is 31.62%.
Lam Research Company Profile (NASDAQ:LRCX)
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.
