Lam Research (NASDAQ:LRCX) Trading Down 2.9% - What's Next?

Lam Research Co. (NASDAQ:LRCX - Get Free Report)'s stock price was down 2.9% on Monday . The stock traded as low as $74.85 and last traded at $75.97. Approximately 2,251,999 shares were traded during trading, a decline of 80% from the average daily volume of 11,223,134 shares. The stock had previously closed at $78.20.

Analyst Ratings Changes

Several research analysts recently weighed in on LRCX shares. Mizuho reduced their price objective on shares of Lam Research from $105.00 to $95.00 and set an "outperform" rating on the stock in a research note on Friday, September 20th. BNP Paribas upgraded Lam Research to a "hold" rating in a report on Thursday, October 24th. UBS Group cut their price objective on Lam Research from $125.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, September 12th. TD Cowen boosted 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. Finally, Wells Fargo & Company lowered their price objective on shares of Lam Research from $88.00 to $85.00 and set an "equal weight" rating on the stock in a report on Thursday, October 24th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, Lam Research has an average rating of "Moderate Buy" and a consensus target price of $97.03.

Lam Research Trading Down 3.2 %

The firm's 50-day moving average price is $77.67 and its 200 day moving average price is $88.53. The company has a market cap of $97.42 billion, a price-to-earnings ratio of 24.55, a P/E/G ratio of 1.24 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.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.05. The firm 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 business's revenue was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.85 earnings per share. As a group, equities analysts expect that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research's dividend payout ratio (DPR) is currently 29.74%.

Insider Transactions at Lam Research

In related news, CAO Christina Correia sold 647 shares of the firm's stock in a transaction that occurred on Tuesday, October 1st. The shares were 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 directly owns 4,267 shares of the company's stock, valued at approximately $3,488,315.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company's stock.

Hedge Funds Weigh In On Lam Research

Several hedge funds have recently bought and sold shares of LRCX. Cypress Capital Group lifted its holdings in shares of Lam Research by 3.7% in the 3rd quarter. Cypress Capital Group now owns 3,660 shares of the semiconductor company's stock worth $2,987,000 after acquiring an additional 132 shares during the last quarter. Landscape Capital Management L.L.C. increased its holdings in shares of Lam Research by 91.1% in the third quarter. Landscape Capital Management L.L.C. now owns 2,507 shares of the semiconductor company's stock worth $2,046,000 after buying an additional 1,195 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Lam Research by 32.0% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 189,071 shares of the semiconductor company's stock valued at $154,297,000 after acquiring an additional 45,828 shares during the last quarter. King Luther Capital Management Corp boosted its holdings in Lam Research by 17.9% during the 3rd quarter. King Luther Capital Management Corp now owns 15,345 shares of the semiconductor company's stock valued at $12,523,000 after acquiring an additional 2,326 shares during the period. Finally, Cornerstone Advisors LLC boosted its stake in shares of Lam Research by 29.6% during the third quarter. Cornerstone Advisors LLC now owns 9,200 shares of the semiconductor company's stock valued at $7,508,000 after purchasing an additional 2,100 shares during the period. Hedge funds and other institutional investors own 84.61% of the company's stock.

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.

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