Lam Research (NASDAQ:LRCX) Price Target Raised to $85.00 at Wells Fargo & Company

Lam Research (NASDAQ:LRCX) had its price objective lifted by Wells Fargo & Company from $82.00 to $85.00 in a report released on Thursday morning,Benzinga reports. They currently have an equal weight rating on the semiconductor company’s stock.

Several other equities analysts also recently weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Mizuho decreased their price target on Lam Research from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a report on Friday, January 17th. Finally, Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $85.00 to $91.00 in a research note on Thursday. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lam Research has an average rating of “Moderate Buy” and a consensus target price of $95.72.

Lam Research Trading Up 7.4 %

Shares of LRCX stock opened at $80.73 on Thursday. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The firm has a market cap of $103.87 billion, a P/E ratio of 24.52, a PEG ratio of 1.38 and a beta of 1.45. The company has a 50 day moving average of $75.88 and a 200-day moving average of $78.94. Lam Research has a 12-month low of $68.87 and a 12-month high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 52.58% and a net margin of 26.49%. Sell-side analysts anticipate that Lam Research will post 3.51 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is currently 27.95%.

Institutional Trading of Lam Research

Several large investors have recently added to or reduced their stakes in the stock. Trust Co. of Toledo NA OH lifted its holdings in Lam Research by 2.4% in the third quarter. Trust Co. of Toledo NA OH now owns 2,074 shares of the semiconductor company’s stock worth $1,693,000 after buying an additional 49 shares during the period. Quarry LP boosted its holdings in shares of Lam Research by 175.0% during the 2nd quarter. Quarry LP now owns 88 shares of the semiconductor company’s stock valued at $94,000 after buying an additional 56 shares in the last quarter. American National Bank & Trust grew its position in shares of Lam Research by 34.0% in the 3rd quarter. American National Bank & Trust now owns 288 shares of the semiconductor company’s stock worth $235,000 after buying an additional 73 shares during the period. Cypress Capital Group lifted its position in Lam Research by 3.7% during the 3rd quarter. Cypress Capital Group now owns 3,660 shares of the semiconductor company’s stock valued at $2,987,000 after acquiring an additional 132 shares during the period. Finally, Savvy Advisors Inc. boosted its stake in Lam Research by 58.3% during the third quarter. Savvy Advisors Inc. now owns 364 shares of the semiconductor company’s stock worth $297,000 after acquiring an additional 134 shares in the last quarter. Institutional investors 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.