Lam Research (NASDAQ:LRCX) Shares Down 2.7% - Here's Why

Lam Research Co. (NASDAQ:LRCX - Get Free Report)'s stock price traded down 2.7% during mid-day trading on Wednesday . The company traded as low as $73.62 and last traded at $73.69. 1,651,537 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 11,209,188 shares. The stock had previously closed at $75.70.

Analyst Ratings Changes

Several research firms have issued reports on LRCX. Cantor Fitzgerald restated a "neutral" rating and issued a $100.00 price target on shares of Lam Research in a research report on Thursday, October 24th. UBS Group decreased their price target on shares of Lam Research from $125.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, September 12th. Needham & Company LLC reiterated a "buy" rating and set a $100.00 target price on shares of Lam Research in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Lam Research from $110.00 to $95.00 and set a "buy" rating on the stock in a research report on Thursday, August 1st. Finally, Stifel Nicolaus reissued a "buy" rating and set a $100.00 price target (down from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Lam Research presently has an average rating of "Moderate Buy" and an average target price of $97.03.

Lam Research Stock Performance

The company's 50 day moving average price is $77.42 and its 200-day moving average price is $88.34. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The stock has a market cap of $95.20 billion, a P/E ratio of 23.90, a price-to-earnings-growth ratio of 1.20 and a beta of 1.48.

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

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research's dividend payout ratio (DPR) is presently 29.74%.

Insider Buying and Selling at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the transaction, the chief accounting officer now directly owns 4,267 shares in the company, valued at $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.29% of the company's stock.

Institutional Investors Weigh In On Lam Research

Several large investors have recently bought and sold shares of the business. CarsonAllaria Wealth Management Ltd. purchased a new stake in Lam Research in the 2nd quarter worth $32,000. RFP Financial Group LLC grew its position in Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company's stock valued at $37,000 after buying an additional 12 shares during the period. Hobbs Group Advisors LLC acquired a new stake in Lam Research during the second quarter valued at $40,000. Country Trust Bank acquired a new stake in shares of Lam Research in the second quarter valued at about $43,000. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of Lam Research in the second quarter valued at about $45,000. 84.61% of the stock is currently 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.

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