Wells Fargo & Co Boosts Lam Research (NASDAQ:LRCX) Price Target to $200.00

Lam Research (NASDAQ:LRCX) had its price objective increased by Wells Fargo & Co from $195.00 to $200.00 in a research note published on Thursday, BenzingaRatingsTable reports. Wells Fargo & Co currently has a market perform rating on the semiconductor company’s stock.

LRCX has been the topic of a number of other research reports. Mizuho reiterated a hold rating on shares of Lam Research in a research note on Thursday, April 25th. Royal Bank of Canada lifted their price target on shares of Lam Research to $220.00 and gave the stock an outperform rating in a research note on Tuesday, April 23rd. Goldman Sachs Group downgraded shares of Lam Research from a buy rating to a neutral rating in a research note on Monday, July 22nd. DA Davidson downgraded shares of Lam Research from a buy rating to a neutral rating and decreased their price target for the stock from $225.00 to $200.00 in a research note on Monday, July 8th. Finally, Cowen reiterated an outperform rating and set a $235.00 price target (up previously from $223.00) on shares of Lam Research in a research note on Thursday, April 25th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Lam Research currently has an average rating of Hold and a consensus price target of $224.38.

Shares of Lam Research stock traded down $1.67 during midday trading on Thursday, hitting $204.09. The company had a trading volume of 2,424,408 shares, compared to its average volume of 1,811,692. The company’s 50 day moving average price is $191.77. The company has a market cap of $30.85 billion, a PE ratio of 14.03, a PEG ratio of 1.19 and a beta of 1.61. The company has a current ratio of 3.61, a quick ratio of 2.79 and a debt-to-equity ratio of 0.82. Lam Research has a 1-year low of $122.64 and a 1-year high of $218.49.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $3.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.22. Lam Research had a net margin of 22.70% and a return on equity of 43.82%. The business had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter last year, the company posted $5.31 earnings per share. Lam Research’s quarterly revenue was down 24.5% on a year-over-year basis. Equities analysts predict that Lam Research will post 13.88 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Wednesday, June 12th were paid a $1.10 dividend. The ex-dividend date of this dividend was Tuesday, June 11th. This represents a $4.40 annualized dividend and a dividend yield of 2.16%. Lam Research’s dividend payout ratio is presently 30.24%.

In other news, insider Kevin Jennings sold 1,122 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $210.07, for a total value of $235,698.54. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Seshasayee Varadarajan sold 20,000 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $200.00, for a total transaction of $4,000,000.00. The disclosure for this sale can be found here. Insiders sold a total of 25,109 shares of company stock worth $5,072,969 in the last 90 days. 0.44% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of LRCX. Geode Capital Management LLC raised its holdings in Lam Research by 18.6% in the 4th quarter. Geode Capital Management LLC now owns 2,519,701 shares of the semiconductor company’s stock valued at $342,720,000 after acquiring an additional 395,218 shares during the last quarter. Macquarie Group Ltd. increased its holdings in shares of Lam Research by 53.1% during the 4th quarter. Macquarie Group Ltd. now owns 14,700 shares of the semiconductor company’s stock worth $2,001,000 after buying an additional 5,098 shares during the last quarter. Private Trust Co. NA increased its holdings in shares of Lam Research by 4.4% during the 1st quarter. Private Trust Co. NA now owns 2,751 shares of the semiconductor company’s stock worth $492,000 after buying an additional 116 shares during the last quarter. Polianta Ltd increased its holdings in shares of Lam Research by 13.3% during the 1st quarter. Polianta Ltd now owns 9,400 shares of the semiconductor company’s stock worth $1,682,000 after buying an additional 1,100 shares during the last quarter. Finally, Selective Wealth Management Inc. acquired a new stake in shares of Lam Research during the 1st quarter worth approximately $4,296,000. Institutional investors own 86.31% 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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Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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