Lam Research Co. to Issue Quarterly Dividend of $0.23 (NASDAQ:LRCX)

Lam Research Co. (NASDAQ:LRCX - Get Free Report) declared a quarterly dividend on Thursday, November 7th,RTT News reports. Shareholders of record on Wednesday, December 11th will be given a dividend of 0.23 per share by the semiconductor company on Wednesday, January 8th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.16%.

Lam Research has raised its dividend payment by an average of 15.0% per year over the last three years. Lam Research has a dividend payout ratio of 25.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Lam Research to earn $4.11 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 22.4%.

Lam Research Stock Up 3.2 %

Shares of Lam Research stock traded up $2.43 during trading hours on Thursday, reaching $79.21. The company's stock had a trading volume of 10,015,933 shares, compared to its average volume of 11,274,799. The stock's fifty day simple moving average is $77.73 and its two-hundred day simple moving average is $88.66. The company has a market capitalization of $101.92 billion, a P/E ratio of 25.60, a P/E/G ratio of 1.18 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. Lam Research has a one year low of $64.11 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter last year, the company posted $6.85 earnings per share. The firm's quarterly revenue was up 19.7% compared to the same quarter last year. On average, research analysts forecast that Lam Research will post 3.52 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on LRCX. TD Cowen raised their price objective on shares of Lam Research from $100.00 to $105.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. StockNews.com lowered shares of Lam Research from a "buy" rating to a "hold" rating in a research report on Friday, October 11th. Citigroup dropped their target price on shares of Lam Research from $99.00 to $89.30 and set a "buy" rating for the company in a research report on Monday, September 16th. BNP Paribas upgraded shares of Lam Research to a "hold" rating in a research report on Thursday, October 24th. Finally, B. Riley dropped their target price on shares of Lam Research from $132.50 to $105.00 and set a "buy" rating for the company in a research report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $97.03.

Insiders Place Their Bets

In other Lam Research news, CAO Christina Correia sold 647 shares of the business's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the transaction, the chief accounting officer now owns 4,267 shares of the company's stock, valued at approximately $3,488,315.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is owned by insiders.

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.

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