Lam Research (NASDAQ:LRCX) Stock Price Up 1.9% - Here's What Happened

Shares of Lam Research Co. (NASDAQ:LRCX - Get Free Report) shot up 1.9% during trading on Thursday . The stock traded as high as $75.64 and last traded at $75.25. 2,097,330 shares changed hands during trading, a decline of 81% from the average session volume of 11,212,367 shares. The stock had previously closed at $73.85.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on LRCX shares. Wells Fargo & Company cut their target price on shares of Lam Research from $88.00 to $85.00 and set an "equal weight" rating for the company in a research report on Thursday, October 24th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. BNP Paribas raised Lam Research to a "hold" rating in a research note on Thursday, October 24th. TD Cowen lifted their price objective on shares of Lam Research from $100.00 to $105.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Finally, UBS Group lowered their target price 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. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Lam Research presently has a consensus rating of "Moderate Buy" and a consensus price target of $97.03.

Lam Research Price Performance

The stock has a market capitalization of $96.27 billion, a P/E ratio of 24.32, a PEG ratio of 1.20 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 company has a fifty day simple moving average of $77.37 and a two-hundred day simple moving average of $88.21.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. The company had revenue of $4.17 billion during the quarter, compared to analysts' expectations of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business's revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.85 EPS. Sell-side analysts expect that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.23%. Lam Research's dividend payout ratio (DPR) is currently 29.74%.

Insider Transactions at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research 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 sale, the chief accounting officer now owns 4,267 shares of the company's stock, valued at $3,488,315.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.29% of the stock is owned by insiders.

Hedge Funds Weigh In On Lam Research

Hedge funds have recently modified their holdings of the stock. CarsonAllaria Wealth Management Ltd. acquired a new position in Lam Research during the second quarter worth approximately $32,000. RFP Financial Group LLC lifted 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 worth $37,000 after acquiring an additional 12 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of Lam Research during the second quarter worth approximately $40,000. Country Trust Bank bought a new position in shares of Lam Research during the second quarter worth approximately $43,000. Finally, MFA Wealth Advisors LLC acquired a new stake in Lam Research during the 2nd quarter worth approximately $45,000. Institutional investors own 84.61% of the company's stock.

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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