Jefferies Financial Group Boosts Lam Research (NASDAQ:LRCX) Price Target to $100.00

Lam Research (NASDAQ:LRCX) had its price objective hoisted by Jefferies Financial Group from $95.00 to $100.00 in a report published on Friday,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other equities research analysts have also recently commented on the company. Morgan Stanley raised their price target on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Mizuho lifted their target price on Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research note on Friday, January 17th. Wells Fargo & Company lifted their price objective on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group dropped their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 10th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and a consensus target price of $97.59.

Lam Research Stock Down 2.9 %

LRCX stock opened at $72.61 on Friday. The business’s 50-day moving average price is $79.51 and its 200-day moving average price is $77.28. The stock has a market cap of $93.21 billion, a P/E ratio of 22.06, a PEG ratio of 1.47 and a beta of 1.53. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. Lam Research has a twelve month low of $68.87 and a twelve month high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. On average, equities research analysts forecast that Lam Research will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.27%. Lam Research’s dividend payout ratio (DPR) is 27.96%.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the transaction, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by insiders.

Hedge Funds Weigh In On Lam Research

A number of hedge funds have recently made changes to their positions in the company. Parisi Gray Wealth Management increased its position in shares of Lam Research by 652.9% during the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock worth $603,000 after purchasing an additional 7,241 shares in the last quarter. Burns J W & Co. Inc. NY acquired a new stake in Lam Research during the 4th quarter worth $815,000. Centerpoint Advisors LLC grew its holdings in shares of Lam Research by 900.0% during the fourth quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock worth $72,000 after buying an additional 900 shares in the last quarter. Worldquant Millennium Advisors LLC raised its position in shares of Lam Research by 51.9% in the third quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock valued at $175,800,000 after buying an additional 73,648 shares during the last quarter. Finally, Benjamin Edwards Inc. lifted its stake in shares of Lam Research by 4,085.9% in the third quarter. Benjamin Edwards Inc. now owns 13,395 shares of the semiconductor company’s stock worth $10,932,000 after buying an additional 13,075 shares in the last quarter. 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.