Lam Research Co. (NASDAQ:LRCX – Get Free Report) SVP Ava Hahn sold 2,342 shares of Lam Research stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $732.00, for a total value of $1,714,344.00. Following the transaction, the senior vice president now owns 3,433 shares in the company, valued at approximately $2,512,956. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Lam Research Trading Down 0.3 %
Shares of LRCX stock traded down $2.43 on Thursday, hitting $734.50. The stock had a trading volume of 427,251 shares, compared to its average volume of 816,659. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.06 and a quick ratio of 1.94. The firm has a market capitalization of $96.80 billion, a P/E ratio of 24.90, a P/E/G ratio of 4.63 and a beta of 1.54. Lam Research Co. has a 1 year low of $412.60 and a 1 year high of $801.29. The company’s 50 day moving average price is $708.61 and its 200-day moving average price is $669.23.
Lam Research (NASDAQ:LRCX – Get Free Report) last posted its quarterly earnings data on Wednesday, October 18th. The semiconductor company reported $6.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.15 by $0.70. The firm had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.42 billion. Lam Research had a return on equity of 50.02% and a net margin of 25.08%. The company’s quarterly revenue was down 31.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $10.42 EPS. Analysts anticipate that Lam Research Co. will post 27.56 earnings per share for the current year.
Lam Research Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 3rd. Investors of record on Wednesday, December 13th were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 1.09%. This is a boost from Lam Research’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Tuesday, December 12th. Lam Research’s payout ratio is presently 27.20%.
Analysts Set New Price Targets
A number of equities analysts recently commented on the company. UBS Group reduced their price objective on Lam Research from $750.00 to $725.00 and set a “buy” rating on the stock in a research report on Thursday, October 5th. JPMorgan Chase & Co. reduced their price objective on Lam Research from $720.00 to $700.00 and set an “overweight” rating on the stock in a research report on Thursday, October 19th. Raymond James assumed coverage on Lam Research in a research report on Tuesday, October 17th. They set an “outperform” rating and a $725.00 price objective on the stock. B. Riley lifted their price objective on Lam Research from $690.00 to $700.00 and gave the stock a “neutral” rating in a research report on Thursday, October 19th. Finally, Morgan Stanley downgraded Lam Research from an “overweight” rating to an “equal weight” rating and set a $720.00 price objective on the stock. in a research report on Friday, December 8th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $685.75.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the stock. Baird Financial Group Inc. boosted its position in shares of Lam Research by 11.5% in the 1st quarter. Baird Financial Group Inc. now owns 39,514 shares of the semiconductor company’s stock valued at $21,243,000 after purchasing an additional 4,090 shares during the period. Zions Bancorporation N.A. raised its stake in Lam Research by 39.1% during the 1st quarter. Zions Bancorporation N.A. now owns 281 shares of the semiconductor company’s stock valued at $151,000 after acquiring an additional 79 shares during the last quarter. Brown Brothers Harriman & Co. raised its stake in Lam Research by 18.8% during the 1st quarter. Brown Brothers Harriman & Co. now owns 721 shares of the semiconductor company’s stock valued at $388,000 after acquiring an additional 114 shares during the last quarter. Covestor Ltd raised its stake in Lam Research by 51.9% during the 1st quarter. Covestor Ltd now owns 322 shares of the semiconductor company’s stock valued at $173,000 after acquiring an additional 110 shares during the last quarter. Finally, Mackenzie Financial Corp raised its stake in Lam Research by 11.8% during the 1st quarter. Mackenzie Financial Corp now owns 233,280 shares of the semiconductor company’s stock valued at $125,414,000 after acquiring an additional 24,636 shares during the last quarter. 84.08% of the stock is owned by institutional investors and hedge funds.
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.