Lam Research (NASDAQ:LRCX) Trading 1.3% Higher - What's Next?

Lam Research Co. (NASDAQ:LRCX - Get Free Report)'s share price rose 1.3% during mid-day trading on Tuesday . The stock traded as high as $76.93 and last traded at $76.42. Approximately 1,676,493 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 11,240,311 shares. The stock had previously closed at $75.45.

Wall Street Analyst Weigh In

Several analysts have issued reports on LRCX shares. StockNews.com lowered Lam Research from a "buy" rating to a "hold" rating in a research note on Friday, October 11th. Mizuho dropped their target price on shares of Lam Research from $105.00 to $95.00 and set an "outperform" rating for the company in a report on Friday, September 20th. TD Cowen upped their target price on Lam Research from $100.00 to $105.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. B. Riley lowered their price objective on Lam Research from $132.50 to $105.00 and set a "buy" rating for the company in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company reduced their target price 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 given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $97.03.

Lam Research Stock Performance

The company has a market capitalization of $10.24 billion, a price-to-earnings ratio of 2.87, a P/E/G ratio of 1.89 and a beta of 1.47. The company has a 50 day moving average price of $78.98 and a 200 day moving average price of $89.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.05. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The company had revenue of $4.17 billion for the quarter, compared to analysts' expectations of $4.06 billion. During the same period last year, the business earned $6.85 EPS. Lam Research's quarterly revenue was up 19.7% compared to the same quarter last year. Equities research analysts predict that Lam Research Co. will post 3.23 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were paid 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 1.17%. Lam Research's dividend payout ratio (DPR) is currently 3.38%.

Insider Transactions at Lam Research

In related news, CAO Christina Correia sold 647 shares of the company's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.32% of the company's stock.

Hedge Funds Weigh In On Lam Research

Several hedge funds have recently modified their holdings of LRCX. Van ECK Associates Corp lifted its holdings in Lam Research by 1,394.7% during the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company's stock worth $13,123,440,000 after acquiring an additional 15,005,178 shares during the period. Fort Pitt Capital Group LLC boosted its holdings in shares of Lam Research by 18.7% in the 3rd quarter. Fort Pitt Capital Group LLC now owns 77,957 shares of the semiconductor company's stock worth $63,619,000 after buying an additional 12,273 shares during the last quarter. Empire Life Investments Inc. increased its holdings in Lam Research by 92.0% during the third quarter. Empire Life Investments Inc. now owns 27,767 shares of the semiconductor company's stock worth $22,660,000 after buying an additional 13,302 shares during the last quarter. Conning Inc. raised its position in Lam Research by 26.4% in the third quarter. Conning Inc. now owns 6,793 shares of the semiconductor company's stock worth $5,544,000 after acquiring an additional 1,420 shares during the period. Finally, Chicago Partners Investment Group LLC boosted its stake in Lam Research by 946.5% in the third quarter. Chicago Partners Investment Group LLC now owns 11,082 shares of the semiconductor company's stock valued at $9,044,000 after acquiring an additional 10,023 shares during the last quarter. 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.