Lam Research (NASDAQ:LRCX) had its price target increased by Stifel Nicolaus from $284.00 to $319.00 in a research note published on Tuesday, The Fly reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

A number of other analysts also recently weighed in on LRCX. Evercore ISI raised shares of Lam Research from an in-line rating to an outperform rating in a research report on Tuesday, September 3rd. Royal Bank of Canada upped their target price on shares of Lam Research from $230.00 to $273.00 and gave the stock an outperform rating in a research report on Thursday, October 24th. Goldman Sachs Group downgraded shares of Lam Research from a buy rating to a neutral rating in a research report on Monday, July 22nd. Zacks Investment Research downgraded shares of Lam Research from a buy rating to a hold rating and set a $273.00 target price on the stock. in a research report on Monday, October 14th. Finally, Needham & Company LLC upped their target price on shares of Lam Research from $250.00 to $280.00 and gave the stock a buy rating in a research report on Thursday, October 24th. Twelve research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Lam Research presently has a consensus rating of Buy and an average price target of $260.42.

Shares of Lam Research stock traded up $8.59 during trading on Tuesday, reaching $283.68. The company’s stock had a trading volume of 2,126,300 shares, compared to its average volume of 1,780,716. The company has a quick ratio of 2.99, a current ratio of 3.59 and a debt-to-equity ratio of 0.76. Lam Research has a 52-week low of $122.64 and a 52-week high of $285.87. The company has a market cap of $39.53 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 1.34 and a beta of 1.67. The firm’s 50-day moving average is $251.66 and its two-hundred day moving average is $212.62.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $3.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.01 by $0.17. Lam Research had a net margin of 22.38% and a return on equity of 43.11%. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same period in the prior year, the business earned $3.36 EPS. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. On average, equities research analysts anticipate that Lam Research will post 15.04 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Tuesday, December 10th. Lam Research’s dividend payout ratio (DPR) is 31.62%.

In related news, SVP Vahid Vahedi sold 12,007 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $220.00, for a total transaction of $2,641,540.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Richard A. Gottscho sold 2,497 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $273.93, for a total transaction of $684,003.21. The disclosure for this sale can be found here. Insiders have sold a total of 88,202 shares of company stock worth $21,620,104 over the last three months. 0.43% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in shares of Lam Research by 2.2% during the 2nd quarter. BlackRock Inc. now owns 11,392,897 shares of the semiconductor company’s stock valued at $2,140,039,000 after acquiring an additional 248,314 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Lam Research by 2.1% during the 2nd quarter. Janus Henderson Group PLC now owns 5,432,134 shares of the semiconductor company’s stock valued at $1,020,373,000 after acquiring an additional 112,508 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of Lam Research by 655.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,502,249 shares of the semiconductor company’s stock valued at $470,022,000 after acquiring an additional 2,171,131 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Lam Research by 1.9% during the 2nd quarter. Northern Trust Corp now owns 2,067,883 shares of the semiconductor company’s stock valued at $388,431,000 after acquiring an additional 38,448 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Lam Research by 20.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,571,906 shares of the semiconductor company’s stock valued at $295,267,000 after acquiring an additional 267,189 shares during the last quarter. 88.59% of the stock is currently owned by institutional investors.

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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