Lam Research (NASDAQ:LRCX) PT Raised to $450.00 at Credit Suisse Group

Lam Research (NASDAQ:LRCX) had its price target lifted by Credit Suisse Group from $370.00 to $450.00 in a report issued on Thursday, The Fly reports. They currently have an outperform rating on the semiconductor company’s stock.

Other equities analysts have also issued research reports about the stock. DA Davidson upped their target price on shares of Lam Research from $270.00 to $370.00 and gave the stock a neutral rating in a research report on Thursday. Stifel Nicolaus lowered shares of Lam Research from a buy rating to a hold rating and set a $305.00 target price for the company. in a research report on Monday, June 22nd. Deutsche Bank upped their target price on shares of Lam Research from $350.00 to $400.00 and gave the stock a buy rating in a research report on Thursday. Royal Bank of Canada upped their target price on shares of Lam Research from $300.00 to $400.00 and gave the stock an outperform rating in a research report on Thursday. Finally, Mizuho upped their target price on shares of Lam Research from $385.00 to $400.00 and gave the stock a buy rating in a research report on Thursday. Six 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 stock. The company presently has a consensus rating of Buy and an average target price of $370.35.

NASDAQ:LRCX traded down $1.38 during mid-day trading on Thursday, hitting $377.16. 2,040,329 shares of the company’s stock were exchanged, compared to its average volume of 1,523,933. Lam Research has a one year low of $181.38 and a one year high of $381.48. The company has a debt-to-equity ratio of 0.96, a current ratio of 3.43 and a quick ratio of 3.67. The business has a fifty day moving average price of $327.42 and a 200 day moving average price of $289.35. The company has a market cap of $54.75 billion, a PE ratio of 24.93, a P/E/G ratio of 1.72 and a beta of 1.35.

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

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

In other Lam Research news, SVP Vahid Vahedi sold 10,688 shares of Lam Research stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $330.00, for a total transaction of $3,527,040.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Patrick J. Lord sold 10,719 shares of Lam Research stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 33,466 shares of company stock worth $11,250,054. Insiders own 0.43% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Atticus Wealth Management LLC purchased a new position in shares of Lam Research during the 1st quarter valued at approximately $26,000. Ameritas Investment Company LLC grew its holdings in shares of Lam Research by 900.0% during the first quarter. Ameritas Investment Company LLC now owns 110 shares of the semiconductor company’s stock worth $26,000 after buying an additional 99 shares in the last quarter. Shine Investment Advisory Services Inc. grew its holdings in shares of Lam Research by 371.0% during the first quarter. Shine Investment Advisory Services Inc. now owns 146 shares of the semiconductor company’s stock worth $35,000 after buying an additional 115 shares in the last quarter. OmniStar Financial Group Inc. purchased a new stake in shares of Lam Research during the first quarter worth $47,000. Finally, Reitz Capital Advisors LLC acquired a new position in shares of Lam Research during the 2nd quarter valued at about $47,000. Institutional investors and hedge funds own 85.05% of the company’s stock.

About Lam Research

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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