Lam Research (NASDAQ:LRCX) Shares Up 1.1% - Time to Buy?

Lam Research Co. (NASDAQ:LRCX - Get Free Report)'s share price traded up 1.1% during mid-day trading on Wednesday . The stock traded as high as $77.50 and last traded at $77.21. 3,009,483 shares were traded during mid-day trading, a decline of 73% from the average session volume of 10,982,218 shares. The stock had previously closed at $76.36.

Analyst Ratings Changes

Several research firms recently weighed in on LRCX. Mizuho reduced their target price on shares of Lam Research from $105.00 to $95.00 and set an "outperform" rating on the stock in a report on Friday, September 20th. Cantor Fitzgerald reduced their price objective on Lam Research from $120.00 to $100.00 and set a "neutral" rating on the stock in a research note on Monday, September 30th. Needham & Company LLC reiterated a "buy" rating and issued a $113.00 target price on shares of Lam Research in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft reduced their price target on Lam Research from $110.00 to $95.00 and set a "buy" rating on the stock in a research report on Thursday, August 1st. Finally, B. Riley increased their price objective on shares of Lam Research from $113.00 to $132.50 and gave the company a "buy" rating in a research report on Thursday, June 20th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $141.28.

Lam Research Trading Down 2.9 %

The stock has a market cap of $9.69 billion, a P/E ratio of 2.77, a price-to-earnings-growth ratio of 1.75 and a beta of 1.47. The firm's 50 day simple moving average is $95.12 and its two-hundred day simple moving average is $95.99. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.76 by $0.05. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the prior year, the firm earned $0.60 EPS. The company's revenue for the quarter was up 20.7% compared to the same quarter last year. As a group, equities research analysts predict that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.92 dividend on an annualized basis and a yield of 1.24%. Lam Research's dividend payout ratio is currently 3.38%.

Insiders Place Their Bets

In other news, CAO Christina Correia sold 647 shares of the company's stock in a transaction dated 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 transaction, the chief accounting officer now owns 4,267 shares in the company, valued at approximately $3,488,315.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.32% of the stock is owned by corporate insiders.

Institutional Trading of Lam Research

A number of institutional investors have recently made changes to their positions in LRCX. Scarborough Advisors LLC bought a new position in Lam Research during the 4th quarter valued at $45,000. Wellington Management Group LLP grew its holdings in Lam Research by 98.5% during the fourth quarter. Wellington Management Group LLP now owns 39,781 shares of the semiconductor company's stock worth $31,159,000 after acquiring an additional 19,742 shares during the period. SageView Advisory Group LLC raised its position in Lam Research by 220.8% in the fourth quarter. SageView Advisory Group LLC now owns 1,235 shares of the semiconductor company's stock worth $1,032,000 after acquiring an additional 850 shares in the last quarter. ICA Group Wealth Management LLC acquired a new stake in Lam Research in the 4th quarter valued at about $121,000. Finally, Nomura Holdings Inc. bought a new position in shares of Lam Research during the 4th quarter valued at about $2,077,000. 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.