Shares of Lam Research Co. (NASDAQ:LRCX – Get Free Report) traded up 4.8% on Monday . The company traded as high as $962.00 and last traded at $961.12. 258,977 shares changed hands during trading, a decline of 74% from the average session volume of 1,010,149 shares. The stock had previously closed at $917.11.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the company. Raymond James boosted their price target on Lam Research from $950.00 to $1,060.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Barclays boosted their price target on Lam Research from $865.00 to $900.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft began coverage on Lam Research in a research note on Thursday, April 11th. They set a “hold” rating and a $1,000.00 price target on the stock. TD Cowen upped their target price on Lam Research from $975.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Finally, Susquehanna dropped their target price on Lam Research from $880.00 to $850.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and an average price target of $986.05.
Lam Research Price Performance
The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84. The company has a market capitalization of $127.74 billion, a price-to-earnings ratio of 35.93, a P/E/G ratio of 2.65 and a beta of 1.48. The stock has a fifty day simple moving average of $1,010.49 and a 200-day simple moving average of $937.72.
Lam Research’s stock is scheduled to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly issued shares will be issued to shareholders after the market closes on Wednesday, October 2nd.
Lam Research (NASDAQ:LRCX – Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, beating the consensus estimate of $7.26 by $0.53. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The firm had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the prior year, the company earned $6.99 EPS. The firm’s revenue was down 2.0% compared to the same quarter last year. On average, equities research analysts anticipate that Lam Research Co. will post 29.67 EPS for the current year.
Lam Research Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Tuesday, June 18th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 0.82%. The ex-dividend date was Tuesday, June 18th. Lam Research’s payout ratio is currently 29.42%.
Lam Research announced that its Board of Directors has initiated a stock buyback plan on Tuesday, May 21st that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 8.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.
Insider Buying and Selling at Lam Research
In other Lam Research news, EVP Patrick J. Lord sold 60 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $921.54, for a total value of $55,292.40. Following the completion of the sale, the executive vice president now directly owns 4,454 shares in the company, valued at approximately $4,104,539.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Patrick J. Lord sold 60 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $921.54, for a total transaction of $55,292.40. Following the completion of the transaction, the executive vice president now directly owns 4,454 shares in the company, valued at approximately $4,104,539.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider George M. Schisler sold 400 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $908.21, for a total value of $363,284.00. Following the transaction, the insider now owns 5,661 shares of the company’s stock, valued at $5,141,376.81. The disclosure for this sale can be found here. Insiders sold a total of 16,786 shares of company stock worth $17,802,292 in the last three months. 0.32% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Lam Research
A number of hedge funds have recently modified their holdings of the business. Norges Bank purchased a new position in Lam Research during the 4th quarter valued at about $1,414,111,000. International Assets Investment Management LLC grew its position in Lam Research by 76,165.7% in the 4th quarter. International Assets Investment Management LLC now owns 318,028 shares of the semiconductor company’s stock valued at $249,099,000 after acquiring an additional 317,611 shares in the last quarter. Cerity Partners LLC grew its position in Lam Research by 1,125.6% in the 4th quarter. Cerity Partners LLC now owns 342,139 shares of the semiconductor company’s stock valued at $267,984,000 after acquiring an additional 314,224 shares in the last quarter. Swedbank AB acquired a new position in Lam Research in the 1st quarter valued at about $192,668,000. Finally, Van ECK Associates Corp grew its position in Lam Research by 24.6% in the 1st quarter. Van ECK Associates Corp now owns 968,115 shares of the semiconductor company’s stock valued at $940,592,000 after acquiring an additional 191,230 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.
About Lam Research
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.