Shares of Lam Research Co. (NASDAQ:LRCX - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $902.19 and traded as high as $1,084.76. Lam Research shares last traded at $1,055.83, with a volume of 882,483 shares changing hands.
Analyst Ratings Changes
Several analysts recently commented on LRCX shares. Cantor Fitzgerald reiterated a "neutral" rating and issued a $1,100.00 price target on shares of Lam Research in a research report on Thursday, April 25th. Needham & Company LLC restated a "buy" rating and set a $1,030.00 price objective on shares of Lam Research in a research report on Thursday, April 25th. Jefferies Financial Group began coverage on shares of Lam Research in a research note on Monday, May 13th. They set a "buy" rating and a $1,100.00 price target on the stock. Susquehanna lowered their price target on shares of Lam Research from $880.00 to $850.00 and set a "neutral" rating on the stock in a research note on Thursday, April 25th. Finally, Mizuho upped their price target on shares of Lam Research from $935.00 to $960.00 and gave the stock a "buy" rating in a research note on Thursday, April 25th. Seven investment 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 currently has an average rating of "Moderate Buy" and a consensus target price of $981.29.
Read Our Latest Stock Analysis on LRCX
Lam Research Price Performance
The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84. The firm has a market cap of $139.22 billion, a price-to-earnings ratio of 39.16, a P/E/G ratio of 3.64 and a beta of 1.46. The business's 50-day moving average price is $964.21 and its two-hundred day moving average price is $905.54.
Lam Research's stock is going to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly issued shares will be distributed to shareholders after the closing bell on Wednesday, October 2nd.
Lam Research (NASDAQ:LRCX - Get Free Report) last posted its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.26 by $0.53. The company had revenue of $3.79 billion for the quarter, compared to analysts' expectations of $3.72 billion. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The firm's quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the business posted $6.99 earnings per share. On average, research analysts forecast that Lam Research Co. will post 29.67 EPS for the current fiscal year.
Lam Research Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Tuesday, June 18th will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Tuesday, June 18th. Lam Research's dividend payout ratio (DPR) is presently 29.42%.
Lam Research declared that its board has authorized a stock buyback plan on Tuesday, May 21st that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 8.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.
Insider Buying and Selling at Lam Research
In other news, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of the sale, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CAO Christina Corrreia sold 647 shares of the business's stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the sale, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Abhijit Y. Talwalkar sold 882 shares of the business's stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the completion of the sale, the director now owns 10,541 shares of the company's stock, valued at $10,246,168.23. The disclosure for this sale can be found here. Insiders have sold a total of 1,989 shares of company stock valued at $1,904,810 in the last 90 days. 0.32% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the business. Mutual Advisors LLC grew its holdings in shares of Lam Research by 81.6% during the third quarter. Mutual Advisors LLC now owns 1,242 shares of the semiconductor company's stock worth $779,000 after purchasing an additional 558 shares during the last quarter. Bamco Inc. NY grew its holdings in shares of Lam Research by 21.9% during the third quarter. Bamco Inc. NY now owns 206 shares of the semiconductor company's stock worth $129,000 after purchasing an additional 37 shares during the last quarter. Bank of Nova Scotia lifted its stake in shares of Lam Research by 151.4% during the third quarter. Bank of Nova Scotia now owns 25,735 shares of the semiconductor company's stock valued at $16,130,000 after acquiring an additional 15,499 shares during the period. Teza Capital Management LLC lifted its stake in shares of Lam Research by 3.0% during the third quarter. Teza Capital Management LLC now owns 4,354 shares of the semiconductor company's stock valued at $2,729,000 after acquiring an additional 126 shares during the period. Finally, Sherbrooke Park Advisers LLC acquired a new position in shares of Lam Research during the third quarter valued at $1,003,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.
Lam Research Company Profile
(
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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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