Lam Research (NASDAQ:LRCX) Shares Gap Up – What’s Next?

Lam Research Co. (NASDAQ:LRCX) gapped up prior to trading on Wednesday . The stock had previously closed at $74.51, but opened at $77.45. Lam Research shares last traded at $75.23, with a volume of 3,161,825 shares changing hands.

Analysts Set New Price Targets

A number of analysts have issued reports on LRCX shares. Mizuho reduced their target price on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a report on Friday, January 17th. Stifel Nicolaus reissued a “buy” rating and set a $100.00 price objective (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Morgan Stanley upped their target price on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Finally, BNP Paribas upgraded shares of Lam Research to a “hold” rating in a research note on Thursday, October 24th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $95.77.

Lam Research Stock Performance

The stock has a 50 day moving average price of $75.62 and a two-hundred day moving average price of $79.15. The company has a market capitalization of $96.61 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 1.53 and a beta of 1.45. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Wednesday, December 11th. Lam Research’s dividend payout ratio is currently 29.74%.

Institutional Trading of Lam Research

A number of institutional investors have recently bought and sold shares of the business. Weatherly Asset Management L. P. grew its stake in shares of Lam Research by 900.0% during the fourth quarter. Weatherly Asset Management L. P. now owns 20,330 shares of the semiconductor company’s stock worth $1,473,000 after purchasing an additional 18,297 shares during the period. Cigna Investments Inc. New grew its position in shares of Lam Research by 880.4% during the 4th quarter. Cigna Investments Inc. New now owns 13,226 shares of the semiconductor company’s stock worth $955,000 after buying an additional 11,877 shares during the period. Atlantic Edge Private Wealth Management LLC raised its position in shares of Lam Research by 900.0% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 600 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 540 shares during the period. Sovran Advisors LLC bought a new position in Lam Research during the 4th quarter worth approximately $232,000. Finally, McBroom & Associates LLC acquired a new position in Lam Research during the fourth quarter valued at approximately $6,324,000. 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.