Lam Research (NASDAQ:LRCX) Shares Up 4.7% Following Analyst Upgrade

Lam Research Co. (NASDAQ:LRCX)’s share price shot up 4.7% during trading on Friday after Mizuho raised their price target on the stock from $700.00 to $770.00. The stock traded as high as $719.22 and last traded at $718.75. 55,097 shares changed hands during trading, a decline of 95% from the average session volume of 1,048,724 shares. The stock had previously closed at $686.77.

Other equities research analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft increased their price objective on Lam Research from $650.00 to $720.00 and gave the company a “hold” rating in a research report on Wednesday, December 15th. Morgan Stanley raised their target price on Lam Research from $710.00 to $755.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 15th. Bank of America raised their target price on Lam Research from $675.00 to $785.00 and gave the stock a “buy” rating in a research report on Monday, January 10th. Wells Fargo & Company raised their target price on Lam Research from $575.00 to $660.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 21st. Finally, Susquehanna dropped their target price on Lam Research from $690.00 to $590.00 and set a “neutral” rating on the stock in a research report on Thursday, October 21st. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $715.46.

In other news, SVP Seshasayee Varadarajan sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 13th. The shares were sold at an average price of $712.50, for a total value of $7,125,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Douglas R. Bettinger sold 5,295 shares of the firm’s stock in a transaction dated Monday, October 25th. The shares were sold at an average price of $555.21, for a total transaction of $2,939,836.95. The disclosure for this sale can be found here. Insiders sold a total of 44,555 shares of company stock valued at $29,250,803 in the last 90 days. Company insiders own 0.34% of the company’s stock.

A number of institutional investors have recently modified their holdings of LRCX. Csenge Advisory Group lifted its stake in Lam Research by 3.6% in the 3rd quarter. Csenge Advisory Group now owns 519 shares of the semiconductor company’s stock worth $296,000 after purchasing an additional 18 shares in the last quarter. Kistler Tiffany Companies LLC increased its stake in shares of Lam Research by 2.1% in the third quarter. Kistler Tiffany Companies LLC now owns 875 shares of the semiconductor company’s stock valued at $498,000 after purchasing an additional 18 shares during the period. Brookstone Capital Management increased its stake in shares of Lam Research by 4.5% in the fourth quarter. Brookstone Capital Management now owns 419 shares of the semiconductor company’s stock valued at $280,000 after purchasing an additional 18 shares during the period. Coastal Investment Advisors Inc. increased its stake in shares of Lam Research by 4.2% in the third quarter. Coastal Investment Advisors Inc. now owns 470 shares of the semiconductor company’s stock valued at $267,000 after purchasing an additional 19 shares during the period. Finally, Benedetti & Gucer Inc. increased its stake in shares of Lam Research by 2.5% in the third quarter. Benedetti & Gucer Inc. now owns 774 shares of the semiconductor company’s stock valued at $440,000 after purchasing an additional 19 shares during the period. 80.53% of the stock is currently owned by hedge funds and other institutional investors.

The firm’s 50 day simple moving average is $675.43 and its 200 day simple moving average is $624.28. The company has a market cap of $102.76 billion, a price-to-earnings ratio of 24.64, a price-to-earnings-growth ratio of 1.17 and a beta of 1.16. The company has a quick ratio of 2.43, a current ratio of 3.27 and a debt-to-equity ratio of 0.86.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Tuesday, October 19th. The semiconductor company reported $8.36 EPS for the quarter, beating the Zacks’ consensus estimate of $8.21 by $0.15. The business had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.32 billion. Lam Research had a net margin of 27.07% and a return on equity of 75.96%. The business’s revenue for the quarter was up 35.5% on a year-over-year basis. During the same quarter last year, the business earned $5.67 earnings per share. Analysts anticipate that Lam Research Co. will post 34.4 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 5th. Investors of record on Wednesday, December 15th were issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date was Tuesday, December 14th. Lam Research’s payout ratio is 20.26%.

About Lam Research (NASDAQ:LRCX)

Lam Research Corp. engages in manufacturing and servicing of wafer processing semiconductor manufacturing equipment. It operates through the following geographical segments: the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. It offers thin film deposition, plasma etch, photoresist strip, and wafer cleaning.

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