Lam Research Co. (NASDAQ:LRCX - Free Report) shares are set to split on the morning of Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly created shares will be payable to shareholders after the closing bell on Wednesday, October 2nd.
Lam Research Stock Up 1.3 %
Shares of LRCX traded up $9.84 during trading hours on Tuesday, hitting $766.04. 931,996 shares of the company were exchanged, compared to its average volume of 1,087,552. 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 company has a market cap of $100.15 billion, a PE ratio of 28.17, a PEG ratio of 1.48 and a beta of 1.48. The firm's 50 day moving average is $855.19 and its 200-day moving average is $929.39. Lam Research has a 52 week low of $574.42 and a 52 week high of $1,130.00.
Lam Research (NASDAQ:LRCX - Get Free Report) last posted its earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share for the quarter, topping the consensus estimate of $7.58 by $0.56. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The firm had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.82 billion. During the same period in the previous year, the company earned $5.98 EPS. The company's revenue for the quarter was up 20.7% on a year-over-year basis. On average, equities research analysts forecast that Lam Research will post 35.2 EPS for the current fiscal year.
Lam Research Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be issued a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 1.20%. The ex-dividend date is Tuesday, September 17th. This is an increase from Lam Research's previous quarterly dividend of $2.00. Lam Research's dividend payout ratio (DPR) is 33.84%.
Lam Research announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 21st that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to reacquire up to 8.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's leadership believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on LRCX. Barclays upped their price target on Lam Research from $865.00 to $900.00 and gave the stock an "equal weight" rating in a report on Wednesday, June 5th. TD Cowen increased their price target on shares of Lam Research from $1,000.00 to $1,050.00 and gave the company a "buy" rating in a report on Thursday, August 1st. StockNews.com downgraded shares of Lam Research from a "buy" rating to a "hold" rating in a report on Friday, July 26th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $1,200.00 target price on shares of Lam Research in a research note on Thursday, August 1st. Finally, Wells Fargo & Company lowered their price target on Lam Research from $1,100.00 to $1,000.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 1st. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,013.37.
Check Out Our Latest Stock Report on Lam Research
Insider Activity at Lam Research
In other news, SVP Neil J. Fernandes sold 4,409 shares of the firm's stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the completion of the sale, the senior vice president now owns 6,857 shares of the company's stock, valued at $7,239,346.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, SVP Neil J. Fernandes sold 4,409 shares of the firm's stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total value of $4,654,845.84. Following the completion of the sale, the senior vice president now directly owns 6,857 shares in the company, valued at $7,239,346.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Timothy Archer sold 9,650 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $1,070.39, for a total transaction of $10,329,263.50. Following the sale, the chief executive officer now directly owns 84,639 shares in the company, valued at approximately $90,596,739.21. The disclosure for this sale can be found here. Insiders sold 16,326 shares of company stock valued at $17,383,715 in the last ninety days. Insiders own 0.32% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of LRCX. Swedbank AB acquired a new stake in shares of Lam Research during the 1st quarter worth approximately $192,668,000. Van ECK Associates Corp grew its holdings in Lam Research by 24.6% during the 1st quarter. Van ECK Associates Corp now owns 968,115 shares of the semiconductor company's stock worth $940,592,000 after acquiring an additional 191,230 shares during the period. Vanguard Group Inc. raised its position in shares of Lam Research by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company's stock valued at $11,519,576,000 after acquiring an additional 144,914 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Lam Research by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company's stock valued at $2,875,023,000 after acquiring an additional 142,903 shares during the last quarter. Finally, Natixis boosted its position in shares of Lam Research by 1,267.1% in the 1st quarter. Natixis now owns 142,967 shares of the semiconductor company's stock worth $138,902,000 after purchasing an additional 132,509 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.
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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