UBS Group Boosts Lam Research (NASDAQ:LRCX) Price Target to $420.00

Lam Research (NASDAQ:LRCX) had its price target hoisted by UBS Group from $385.00 to $420.00 in a research note issued to investors on Thursday, The Fly reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

A number of other equities research analysts also recently issued reports on the stock. Stifel Nicolaus downgraded shares of Lam Research from a buy rating to a hold rating and set a $305.00 price objective for the company. in a research report on Monday, June 22nd. Cfra lowered their target price on Lam Research from $310.00 to $290.00 and set a hold rating on the stock in a research report on Thursday, April 23rd. Deutsche Bank lifted their target price on Lam Research from $330.00 to $350.00 and gave the company a buy rating in a research report on Monday, July 13th. Mizuho lifted their target price on Lam Research from $290.00 to $385.00 and gave the company a buy rating in a research report on Wednesday, July 22nd. Finally, BidaskClub upgraded Lam Research from a buy rating to a strong-buy rating in a research report on Saturday, June 6th. Six analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and an average price target of $370.35.

Shares of Lam Research stock traded down $1.38 during trading hours on Thursday, reaching $377.16. 2,040,329 shares of the stock traded hands, 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 firm has a market capitalization of $54.75 billion, a price-to-earnings ratio of 24.93, a P/E/G ratio of 1.72 and a beta of 1.35. 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 company has a 50 day moving average price of $327.42 and a 200 day moving average price of $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 (EPS) for the quarter, topping analysts’ consensus estimates 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 was up 18.2% compared to the same quarter last year. During the same quarter last year, the firm posted $3.62 earnings per share. Sell-side analysts anticipate 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. Stockholders of record on Wednesday, June 17th were issued a $1.15 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $4.60 annualized dividend and a dividend yield of 1.22%.

In other news, SVP Vahid Vahedi sold 10,688 shares of Lam Research stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $330.00, for a total value of $3,527,040.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Kevin Jennings sold 12,059 shares of Lam Research stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $335.55, for a total value of $4,046,397.45. The disclosure for this sale can be found here. Insiders sold 33,466 shares of company stock worth $11,250,054 over the last ninety days. Insiders own 0.43% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Atticus Wealth Management LLC bought a new stake in Lam Research during the first quarter worth approximately $26,000. Ameritas Investment Company LLC increased its stake in 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 acquiring an additional 99 shares during the last quarter. Reitz Capital Advisors LLC bought a new stake in Lam Research during the second quarter worth approximately $47,000. Shine Investment Advisory Services Inc. increased its stake in 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 acquiring an additional 115 shares during the last quarter. Finally, OmniStar Financial Group Inc. bought a new stake in Lam Research during the first quarter worth approximately $47,000. 85.05% of the stock is currently owned by institutional investors.

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.

Recommended Story: Google Finance Portfolio Workaround

The Fly

Analyst Recommendations for Lam Research (NASDAQ:LRCX)

Receive News & Ratings for Lam Research Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lam Research and related companies with MarketBeat.com's FREE daily email newsletter.