Lam Research (NASDAQ:LRCX) Shares Down 2.6%

Lam Research Co. (NASDAQ:LRCX)’s share price traded down 2.6% during trading on Wednesday . The stock traded as low as $935.19 and last traded at $938.55. 124,118 shares traded hands during trading, a decline of 88% from the average session volume of 1,005,383 shares. The stock had previously closed at $963.23.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Raymond James raised their target price on Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Cantor Fitzgerald raised their target price on Lam Research from $900.00 to $1,100.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. TD Cowen raised their price target on Lam Research from $710.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Evercore ISI began coverage on Lam Research in a report on Tuesday. They set an “outperform” rating and a $1,200.00 price target for the company. Finally, Barclays raised their price target on Lam Research from $750.00 to $825.00 and gave the company an “equal weight” rating in a report on Thursday, January 25th. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus price target of $881.45.

Lam Research Stock Performance

The stock has a fifty day simple moving average of $946.27 and a two-hundred day simple moving average of $798.17. The stock has a market cap of $116.54 billion, a price-to-earnings ratio of 34.37, a P/E/G ratio of 3.30 and a beta of 1.51. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 EPS for the quarter, beating analysts’ consensus estimates of $7.06 by $0.46. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The business had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same period in the previous year, the company posted $10.71 EPS. The firm’s revenue was down 28.8% compared to the same quarter last year. Analysts expect that Lam Research Co. will post 28.9 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were paid a dividend of $2.00 per share. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a yield of 0.90%. Lam Research’s dividend payout ratio (DPR) is currently 30.94%.

Insider Buying and Selling at Lam Research

In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $857,330.46. Following the completion of the transaction, the director now owns 10,541 shares in the company, valued at approximately $10,246,168.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of the sale, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $857,330.46. Following the sale, the director now directly owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,029 shares of company stock worth $6,559,489. Insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Lam Research

Several large investors have recently made changes to their positions in LRCX. Orion Capital Management LLC purchased a new stake in shares of Lam Research during the 3rd quarter valued at $25,000. Hobbs Group Advisors LLC purchased a new stake in Lam Research during the fourth quarter valued at $27,000. BluePath Capital Management LLC purchased a new stake in Lam Research during the third quarter valued at $28,000. DSM Capital Partners LLC purchased a new stake in Lam Research during the fourth quarter valued at $28,000. Finally, OFI Invest Asset Management purchased a new stake in Lam Research during the third quarter valued at $30,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

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.