Lam Research (NASDAQ:LRCX) Given New $252.00 Price Target at KeyCorp

Lam Research (NASDAQ:LRCX) had its price target boosted by KeyCorp from $236.00 to $252.00 in a research note issued to investors on Thursday, 24/7 WallStreet reports. The brokerage currently has an overweight rating on the semiconductor company’s stock.

LRCX has been the subject of a number of other research reports. Credit Suisse Group reaffirmed a positive rating on shares of Lam Research in a report on Monday, July 8th. They noted that the move was a valuation call. B. Riley raised shares of Lam Research from a neutral rating to a buy rating and raised their price target for the stock from $170.00 to $235.00 in a report on Monday, April 22nd. ValuEngine raised shares of Lam Research from a hold rating to a buy rating in a report on Sunday, July 14th. DA Davidson cut 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 report on Monday, July 8th. Finally, Deutsche Bank raised their price target on shares of Lam Research from $180.00 to $195.00 and gave the stock a hold rating in a report on Thursday, April 25th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $224.69.

Shares of NASDAQ LRCX traded down $9.24 during midday trading on Thursday, reaching $194.85. The company had a trading volume of 26,499 shares, compared to its average volume of 1,811,692. The company’s 50-day moving average is $191.77. The company has a market cap of $30.60 billion, a PE ratio of 13.43, a P/E/G ratio of 1.18 and a beta of 1.61. Lam Research has a 1 year low of $122.64 and a 1 year high of $218.49. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.79 and a current ratio of 3.61.

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

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.26%. Lam Research’s payout ratio is currently 30.24%.

In related news, insider Seshasayee Varadarajan sold 20,000 shares of the firm’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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Abhijit Y. Talwalkar sold 3,987 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $210.00, for a total transaction of $837,270.00. The disclosure for this sale can be found here. Insiders sold 25,109 shares of company stock worth $5,072,969 in the last quarter. Company insiders own 0.44% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake in Lam Research by 18.6% during the 4th quarter. Geode Capital Management LLC now owns 2,519,701 shares of the semiconductor company’s stock worth $342,720,000 after buying an additional 395,218 shares during the period. Macquarie Group Ltd. increased its holdings in 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 purchasing an additional 5,098 shares in the last quarter. Private Trust Co. NA increased its holdings in 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 purchasing an additional 116 shares in the last quarter. Polianta Ltd increased its holdings in 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 purchasing an additional 1,100 shares in the last quarter. Finally, Selective Wealth Management Inc. bought a new stake in Lam Research during the 1st quarter worth approximately $4,296,000. Institutional investors own 86.32% 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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Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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