Lam Research (NASDAQ:LRCX) Now Covered by Oppenheimer

Oppenheimer assumed coverage on shares of Lam Research (NASDAQ:LRCX) in a research report released on Thursday morning. The firm issued an outperform rating and a $95.00 target price on the semiconductor company’s stock.

LRCX has been the topic of several other reports. Mizuho lifted their target price on Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Wells Fargo & Company lifted their target price on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. The Goldman Sachs Group cut their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Barclays cut their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $100.00 price objective on shares of Lam Research in a research report on Tuesday, February 18th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and an average target price of $98.06.

Lam Research Trading Down 0.5 %

Shares of LRCX stock opened at $77.55 on Thursday. The stock’s fifty day moving average price is $79.60 and its two-hundred day moving average price is $77.33. The company has a market cap of $99.55 billion, a PE ratio of 23.56, a P/E/G ratio of 1.47 and a beta of 1.53. Lam Research has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54.

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

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the transaction, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Lam Research

Several institutional investors have recently modified their holdings of LRCX. Vanguard Group Inc. grew its holdings in shares of Lam Research by 892.7% in the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock valued at $8,724,498,000 after acquiring an additional 108,619,564 shares in the last quarter. FMR LLC grew its holdings in Lam Research by 1,032.6% during the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company’s stock valued at $2,891,453,000 after purchasing an additional 36,496,689 shares during the period. Ameriprise Financial Inc. grew its holdings in Lam Research by 950.5% during the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company’s stock valued at $2,495,128,000 after purchasing an additional 31,255,726 shares during the period. Geode Capital Management LLC grew its holdings in Lam Research by 907.1% during the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company’s stock valued at $2,265,610,000 after purchasing an additional 28,307,499 shares during the period. Finally, Norges Bank bought a new position in Lam Research during the fourth quarter valued at $1,661,672,000. 84.61% of the stock is owned by institutional investors.

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.