Lam Research (NASDAQ:LRCX) PT Raised to $1,200.00 at Cantor Fitzgerald

Lam Research (NASDAQ:LRCX) had its target price increased by Cantor Fitzgerald from $1,100.00 to $1,200.00 in a research note published on Tuesday, Benzinga reports. Cantor Fitzgerald currently has a neutral rating on the semiconductor company’s stock.

A number of other research analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft began coverage on Lam Research in a research note on Thursday, April 11th. They set a hold rating and a $1,000.00 price objective for the company. StockNews.com lowered shares of Lam Research from a buy rating to a hold rating in a research report on Thursday, June 13th. Barclays lifted their price objective on shares of Lam Research from $865.00 to $900.00 and gave the company an equal weight rating in a research report on Wednesday, June 5th. Susquehanna decreased their target price on shares of Lam Research from $880.00 to $850.00 and set a neutral rating for the company in a research report on Thursday, April 25th. Finally, B. Riley lifted their price target on Lam Research from $1,130.00 to $1,325.00 and gave the company a buy rating in a report on Thursday, June 20th. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $986.05.

Lam Research Stock Down 3.7 %

Shares of NASDAQ:LRCX opened at $917.11 on Tuesday. The company’s fifty day moving average is $1,010.49 and its two-hundred day moving average is $935.01. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.84 and a current ratio of 2.82. Lam Research has a 1-year low of $574.42 and a 1-year high of $1,130.00. The stock has a market capitalization of $119.90 billion, a price-to-earnings ratio of 33.73, a price-to-earnings-growth ratio of 2.81 and a beta of 1.48.

Lam Research’s stock is set to split on the morning of Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly created shares will be distributed to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, topping the consensus estimate of $7.26 by $0.53. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The firm had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the prior year, the business earned $6.99 earnings per share. Lam Research’s quarterly revenue was down 2.0% on a year-over-year basis. Equities analysts anticipate that Lam Research will post 29.67 EPS for the current year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Tuesday, June 18th were paid a $2.00 dividend. The ex-dividend date was Tuesday, June 18th. This represents a $8.00 annualized dividend and a dividend yield of 0.87%. Lam Research’s dividend payout ratio is currently 29.42%.

Lam Research announced that its board has approved a stock repurchase plan on Tuesday, May 21st that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to purchase up to 8.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Lam Research news, EVP Patrick J. Lord sold 60 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $921.54, for a total value of $55,292.40. Following the transaction, the executive vice president now owns 4,454 shares of the company’s stock, valued at $4,104,539.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Lam Research news, SVP Neil J. Fernandes sold 4,409 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total value of $4,654,845.84. Following the completion of the transaction, the senior vice president now directly owns 6,857 shares in the company, valued at $7,239,346.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Patrick J. Lord sold 60 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $921.54, for a total transaction of $55,292.40. Following the sale, the executive vice president now owns 4,454 shares in the company, valued at approximately $4,104,539.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,786 shares of company stock worth $17,802,292. Corporate insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Lam Research

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC lifted its holdings in shares of Lam Research by 1.0% in the fourth quarter. Checchi Capital Advisers LLC now owns 1,781 shares of the semiconductor company’s stock valued at $1,395,000 after purchasing an additional 18 shares in the last quarter. Citizens Financial Group Inc. RI raised its position in Lam Research by 20.9% during the fourth quarter. Citizens Financial Group Inc. RI now owns 491 shares of the semiconductor company’s stock valued at $384,000 after buying an additional 85 shares during the period. Everence Capital Management Inc. raised its position in Lam Research by 54.7% during the fourth quarter. Everence Capital Management Inc. now owns 4,073 shares of the semiconductor company’s stock valued at $3,190,000 after buying an additional 1,440 shares during the period. Gradient Investments LLC lifted its stake in Lam Research by 32,411.1% in the 4th quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock worth $11,459,000 after acquiring an additional 14,585 shares in the last quarter. Finally, Contravisory Investment Management Inc. acquired a new stake in Lam Research during the 4th quarter worth about $7,930,000. Institutional investors and hedge funds own 84.61% 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. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.