Lam Research (NASDAQ:LRCX) Stock Price Down 4.4% - Time to Sell?

Lam Research Co. (NASDAQ:LRCX - Get Free Report) fell 4.4% during trading on Friday . The company traded as low as $71.20 and last traded at $71.49. 3,238,948 shares changed hands during trading, a decline of 71% from the average session volume of 11,211,154 shares. The stock had previously closed at $74.79.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LRCX. Morgan Stanley lowered their price objective on Lam Research from $81.00 to $77.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 23rd. Cantor Fitzgerald restated a "neutral" rating and set a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. Mizuho decreased their target price on Lam Research from $105.00 to $95.00 and set an "outperform" rating for the company in a research note on Friday, September 20th. Citigroup decreased their target price on Lam Research from $99.00 to $89.30 and set a "buy" rating for the company in a research note on Monday, September 16th. Finally, TD Cowen increased their target price on Lam Research from $100.00 to $105.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, Lam Research has a consensus rating of "Moderate Buy" and a consensus price target of $97.03.

Lam Research Trading Down 5.8 %

The stock has a market cap of $90.67 billion, a P/E ratio of 23.11, a price-to-earnings-growth ratio of 1.17 and a beta of 1.48. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The business's fifty day simple moving average is $77.34 and its 200 day simple moving average is $88.12.

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, beating analysts' consensus estimates of $0.81 by $0.05. The business had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. Lam Research's revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter last year, the business posted $6.85 earnings per share. As a group, analysts expect that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Announces Dividend

The company 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. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 annualized dividend and a yield of 1.31%. Lam Research's dividend payout ratio is currently 29.74%.

Insider Buying and Selling at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the company's stock in a transaction 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 completion of the sale, the chief accounting officer now owns 4,267 shares in the company, valued at approximately $3,488,315.17. The trade was a 13.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company's stock.

Institutional Investors Weigh In On Lam Research

A number of institutional investors have recently made changes to their positions in LRCX. Van ECK Associates Corp lifted its holdings in Lam Research by 1,394.7% during the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company's stock worth $13,123,440,000 after acquiring an additional 15,005,178 shares in the last quarter. Foster Victor Wealth Advisors LLC raised its holdings in Lam Research by 994.1% during the third quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company's stock worth $190,066,000 after acquiring an additional 211,614 shares in the last quarter. Bridgewater Associates LP raised its holdings in Lam Research by 315.0% during the third quarter. Bridgewater Associates LP now owns 276,052 shares of the semiconductor company's stock worth $225,281,000 after acquiring an additional 209,537 shares in the last quarter. Swedbank AB acquired a new position in Lam Research during the first quarter worth approximately $192,668,000. Finally, Vanguard Group Inc. increased its position in Lam Research by 1.2% during the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company's stock worth $11,519,576,000 after buying an additional 144,914 shares during the last quarter. 84.61% 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.

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