Lam Research (NASDAQ:LRCX) had its price objective boosted by DA Davidson from $270.00 to $370.00 in a research note published on Thursday, The Fly reports. The firm currently has a neutral rating on the semiconductor company’s stock.

LRCX has been the subject of several other research reports. Nomura upped their price objective on Lam Research from $265.00 to $320.00 and gave the company a buy rating in a research note on Thursday, April 23rd. Credit Suisse Group reaffirmed a buy rating and set a $370.00 price target on shares of Lam Research in a research note on Thursday, April 23rd. Nomura Securities upgraded shares of Lam Research from a neutral rating to a buy rating and set a $265.00 price target on the stock in a report on Thursday, April 2nd. Needham & Company LLC decreased their price objective on Lam Research from $340.00 to $325.00 and set a buy rating for the company in a report on Thursday, April 23rd. Finally, Mizuho lifted their target price on Lam Research from $385.00 to $400.00 and gave the stock a buy rating in a report on Thursday. Six research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Lam Research currently has an average rating of Buy and an average price target of $370.35.

Lam Research stock traded down $1.38 during mid-day trading on Thursday, reaching $377.16. The company had a trading volume of 2,040,329 shares, compared to its average volume of 1,523,933. The business has a fifty day simple moving average of $327.42 and a 200 day simple moving average of $289.35. The company has a market cap of $54.75 billion, a P/E ratio of 24.93, a P/E/G ratio of 1.72 and a beta of 1.35. Lam Research has a fifty-two week low of $181.38 and a fifty-two week high of $381.48. 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 (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, July 29th. The semiconductor company reported $4.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.20 by $0.58. Lam Research had a return on equity of 49.72% and a net margin of 22.42%. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.68 billion. During the same quarter last year, the business posted $3.62 EPS. Lam Research’s revenue for the quarter was up 18.2% on a year-over-year basis. Research analysts forecast that Lam Research will post 18.13 EPS 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 paid 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 related news, SVP Vahid Vahedi sold 10,688 shares of Lam Research stock in a transaction on Monday, July 6th. The shares were sold at an average price of $330.00, for a total value of $3,527,040.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Patrick J. Lord sold 10,719 shares of the business’s stock in a transaction on Monday, July 13th. The shares were sold at an average price of $343.00, for a total transaction of $3,676,617.00. The disclosure for this sale can be found here. Insiders sold a total of 33,466 shares of company stock valued at $11,250,054 over the last ninety days. 0.43% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Guggenheim Capital LLC boosted its position in shares of Lam Research by 0.7% during the fourth quarter. Guggenheim Capital LLC now owns 94,141 shares of the semiconductor company’s stock valued at $27,527,000 after buying an additional 685 shares during the last quarter. 1832 Asset Management L.P. purchased a new position in Lam Research during the 4th quarter worth $308,000. Verus Capital Partners LLC purchased a new stake in shares of Lam Research in the fourth quarter valued at about $73,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Lam Research by 67.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,925 shares of the semiconductor company’s stock valued at $855,000 after purchasing an additional 1,175 shares in the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in shares of Lam Research during the first quarter valued at about $247,000. 85.05% of the stock is currently owned by institutional investors and hedge funds.

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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The Fly

Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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