Lam Research Sees Unusually Large Options Volume (NASDAQ:LRCX)

Lam Research Co. (NASDAQ:LRCX - Get Free Report) was the recipient of some unusual options trading activity on Monday. Investors bought 28,177 call options on the company. This represents an increase of approximately 91% compared to the average daily volume of 14,764 call options.

Lam Research Price Performance

Shares of Lam Research stock traded up $2.81 during midday trading on Monday, hitting $85.70. 8,148,585 shares of the company traded hands, compared to its average volume of 10,948,556. The stock has a market cap of $11.20 billion, a price-to-earnings ratio of 3.14, a PEG ratio of 1.75 and a beta of 1.47. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. The firm's fifty day moving average price is $94.96 and its 200-day moving average price is $96.22. Lam Research has a 12 month low of $57.44 and a 12 month high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.05. The company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The firm's revenue was up 20.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 EPS. As a group, sell-side analysts forecast that Lam Research will post 3.52 earnings per share for the current year.

Lam Research Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Tuesday, September 17th. Lam Research's dividend payout ratio (DPR) is presently 3.38%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LRCX. Wells Fargo & Company cut their target price on shares of Lam Research from $1,000.00 to $880.00 and set an "equal weight" rating for the company in a research note on Thursday, October 3rd. B. Riley raised their target price on shares of Lam Research from $113.00 to $132.50 and gave the stock a "buy" rating in a research note on Thursday, June 20th. Cantor Fitzgerald lowered their price target on shares of Lam Research from $120.00 to $100.00 and set a "neutral" rating on the stock in a research report on Monday, September 30th. StockNews.com lowered shares of Lam Research from a "buy" rating to a "hold" rating in a research report on Friday. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $113.00 price target on shares of Lam Research in a research report on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $141.28.

Insider Buying and Selling at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the stock in a transaction 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 sale, the chief accounting officer now 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 SEC, which is available through this link. Corporate insiders own 0.32% of the company's stock.

Institutional Investors Weigh In On Lam Research

Several hedge funds have recently added to or reduced their stakes in LRCX. Raleigh Capital Management Inc. boosted its position in Lam Research by 78.6% during the 4th quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company's stock worth $39,000 after buying an additional 22 shares during the period. Beacon Financial Group acquired a new position in shares of Lam Research in the 4th quarter worth approximately $246,000. Centaurus Financial Inc. lifted its position in shares of Lam Research by 43.6% in the 4th quarter. Centaurus Financial Inc. now owns 563 shares of the semiconductor company's stock worth $441,000 after purchasing an additional 171 shares during the period. Scarborough Advisors LLC bought a new stake in shares of Lam Research in the 4th quarter valued at $45,000. Finally, Twin Focus Capital Partners LLC bought a new stake in shares of Lam Research in the 4th quarter valued at $246,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

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.