Lam Research Co. (NASDAQ:LRCX) EVP Richard A. Gottscho sold 3,741 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $219.00, for a total value of $819,279.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of LRCX stock traded up $5.14 during mid-day trading on Thursday, hitting $226.74. 2,796,860 shares of the stock were exchanged, compared to its average volume of 2,126,865. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.96 and a current ratio of 3.61. Lam Research Co. has a 12-month low of $122.64 and a 12-month high of $232.26. The stock’s fifty day simple moving average is $205.28 and its two-hundred day simple moving average is $190.77. The stock has a market capitalization of $32.77 billion, a price-to-earnings ratio of 15.58, a P/E/G ratio of 1.31 and a beta of 1.62.
Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $3.62 EPS for the quarter, beating the Zacks’ consensus estimate of $3.40 by $0.22. The firm had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.37 billion. Lam Research had a net margin of 22.70% and a return on equity of 43.72%. The firm’s revenue was down 24.5% compared to the same quarter last year. During the same quarter last year, the firm earned $5.31 earnings per share. On average, research analysts expect that Lam Research Co. will post 13.57 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Tuesday, October 1st will be given a dividend of $1.15 per share. This is an increase from Lam Research’s previous quarterly dividend of $1.10. This represents a $4.60 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Monday, September 30th. Lam Research’s payout ratio is currently 30.24%.
LRCX has been the topic of a number of research reports. Cfra set a $210.00 price target on Lam Research and gave the stock a “hold” rating in a research note on Saturday, August 31st. KeyCorp upped their price target on Lam Research from $236.00 to $252.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Credit Suisse Group restated a “positive” rating on shares of Lam Research in a research note on Monday, July 8th. They noted that the move was a valuation call. DA Davidson cut Lam Research from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $225.00 to $200.00 in a research note on Monday, July 8th. Finally, Royal Bank of Canada reiterated a “buy” rating on shares of Lam Research in a research note on Wednesday, August 7th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $220.00.
Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its position in shares of Lam Research by 18.6% in the fourth quarter. Geode Capital Management LLC now owns 2,519,701 shares of the semiconductor company’s stock valued at $342,720,000 after purchasing an additional 395,218 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of Lam Research by 162.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 2,377 shares of the semiconductor company’s stock valued at $425,000 after purchasing an additional 1,472 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in shares of Lam Research in the first quarter valued at approximately $55,000. Kornitzer Capital Management Inc. KS purchased a new stake in shares of Lam Research in the first quarter valued at approximately $1,173,000. Finally, Moors & Cabot Inc. grew its position in shares of Lam Research by 97.1% in the first quarter. Moors & Cabot Inc. now owns 4,150 shares of the semiconductor company’s stock valued at $748,000 after purchasing an additional 2,045 shares in the last quarter. Hedge funds and other institutional investors own 87.19% 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 worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.
Further Reading: Buyback
Receive News & Ratings for Lam Research Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lam Research and related companies with MarketBeat.com's FREE daily email newsletter.