B. Riley Boosts Lam Research (NASDAQ:LRCX) Price Target to $450.00

Lam Research (NASDAQ:LRCX) had its target price boosted by B. Riley from $435.00 to $450.00 in a report issued on Thursday, The Fly reports.

Several other research firms have also recently weighed in on LRCX. Nomura Securities upgraded shares of Lam Research from a neutral rating to a buy rating and set a $265.00 price objective on the stock in a research report on Thursday, April 2nd. BidaskClub upgraded shares of Lam Research from a buy rating to a strong-buy rating in a research report on Saturday, June 6th. Credit Suisse Group lifted their price objective on shares of Lam Research from $370.00 to $450.00 and gave the stock an outperform rating in a research report on Thursday. UBS Group lifted their target price on shares of Lam Research from $385.00 to $420.00 and gave the company a buy rating in a research note on Thursday. Finally, DA Davidson lifted their target price on shares of Lam Research from $270.00 to $370.00 and gave the company a neutral rating in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $370.35.

Lam Research stock traded down $1.38 during mid-day trading on Thursday, hitting $377.16. The company’s stock had a trading volume of 2,040,329 shares, compared to its average volume of 1,523,933. The company has a quick ratio of 3.67, a current ratio of 3.43 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $54.75 billion, a P/E ratio of 24.93, a P/E/G ratio of 1.72 and a beta of 1.35. Lam Research has a twelve month low of $181.38 and a twelve month high of $381.48. The stock’s fifty day moving average price is $327.42 and its two-hundred day moving average price is $289.35.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, July 29th. The semiconductor company reported $4.78 earnings per share for the quarter, topping the consensus estimate of $4.20 by $0.58. Lam Research had a net margin of 22.42% and a return on equity of 49.72%. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.68 billion. During the same period in the previous year, the company posted $3.62 EPS. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. Equities analysts expect that Lam Research will post 18.13 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Wednesday, June 17th were given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Tuesday, June 16th.

In other Lam Research news, EVP Patrick J. Lord sold 10,719 shares of the business’s stock in a transaction on Monday, July 13th. The shares were sold at an average price of $343.00, for a total transaction of $3,676,617.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Kevin Jennings sold 12,059 shares of the business’s stock in a transaction on Friday, July 10th. The stock was sold at an average price of $335.55, for a total transaction of $4,046,397.45. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,466 shares of company stock valued at $11,250,054. Company insiders own 0.43% of the company’s stock.

Large investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its holdings in shares of Lam Research by 96.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 406,358 shares of the semiconductor company’s stock worth $97,525,000 after purchasing an additional 199,127 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Lam Research by 11.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 60,747 shares of the semiconductor company’s stock valued at $14,579,000 after acquiring an additional 6,054 shares during the period. Empirical Finance LLC increased its stake in Lam Research by 13.7% in the second quarter. Empirical Finance LLC now owns 997 shares of the semiconductor company’s stock valued at $322,000 after acquiring an additional 120 shares during the period. Balentine LLC bought a new stake in Lam Research in the first quarter valued at about $135,000. Finally, CNB Bank increased its stake in Lam Research by 10.9% in the second quarter. CNB Bank now owns 428 shares of the semiconductor company’s stock valued at $138,000 after acquiring an additional 42 shares during the period. Institutional investors own 85.05% of the company’s stock.

Lam Research Company Profile

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.

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