Stifel Nicolaus Boosts Lam Research (NASDAQ:LRCX) Price Target to $352.00

Lam Research (NASDAQ:LRCX) had its price target raised by Stifel Nicolaus from $305.00 to $352.00 in a research note released on Thursday, BenzingaRatingsTable reports. They currently have a hold rating on the semiconductor company’s stock.

Several other equities research analysts also recently commented on the stock. Barclays lifted their target price on shares of Lam Research from $315.00 to $350.00 and gave the stock an overweight rating in a research report on Monday, July 20th. Citigroup lifted their target price on shares of Lam Research from $313.00 to $389.00 and gave the stock a buy rating in a research report on Thursday. They noted that the move was a valuation call. Cfra cut their target price on shares of Lam Research from $310.00 to $290.00 and set a hold rating on the stock in a research report on Thursday, April 23rd. BNP Paribas initiated coverage on shares of Lam Research in a research report on Wednesday, April 8th. They issued an outperform rating and a $320.00 price target on the stock. Finally, Morgan Stanley boosted their price target on shares of Lam Research from $334.00 to $415.00 and gave the stock an overweight rating in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus 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. The company has a 50 day simple moving average of $327.42 and a 200-day simple moving average of $289.35. The company has a current ratio of 3.43, a quick ratio of 3.67 and a debt-to-equity ratio of 0.96. Lam Research has a fifty-two week low of $181.38 and a fifty-two week high of $381.48. The firm has a market capitalization of $54.75 billion, a P/E ratio of 24.93, a PEG ratio of 1.72 and a beta of 1.35.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, July 29th. The semiconductor company reported $4.78 EPS 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 business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.68 billion. During the same period last year, the company earned $3.62 EPS. The firm’s revenue was up 18.2% compared to the same quarter last year. As a group, analysts expect that Lam Research will post 18.13 earnings per share for the current year.

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

In related news, EVP Patrick J. Lord sold 10,719 shares of the stock in a transaction dated 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 accessible through this hyperlink. Also, SVP Kevin Jennings sold 12,059 shares of the stock in a transaction dated Friday, July 10th. The shares were 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. Insiders have sold a total of 33,466 shares of company stock valued at $11,250,054 in the last 90 days. 0.43% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the company. Guggenheim Capital LLC increased its position in shares of Lam Research by 0.7% in the fourth quarter. Guggenheim Capital LLC now owns 94,141 shares of the semiconductor company’s stock worth $27,527,000 after purchasing an additional 685 shares during the last quarter. 1832 Asset Management L.P. bought a new position in shares of Lam Research in the fourth quarter worth approximately $308,000. Verus Capital Partners LLC purchased a new stake in Lam Research in the fourth quarter worth $73,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Lam Research by 67.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,925 shares of the semiconductor company’s stock worth $855,000 after acquiring an additional 1,175 shares during the period. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in Lam Research during the first quarter valued at $247,000. 85.05% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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