Lam Research (NASDAQ:LRCX) Sets New 52-Week High at $1,105.86

Lam Research Co. (NASDAQ:LRCXGet Free Report)’s stock price reached a new 52-week high on Monday . The stock traded as high as $1,105.86 and last traded at $1,103.59, with a volume of 164759 shares trading hands. The stock had previously closed at $1,087.80.

Analyst Upgrades and Downgrades

LRCX has been the subject of several research analyst reports. Cantor Fitzgerald reissued a “neutral” rating and set a $1,100.00 target price on shares of Lam Research in a research note on Thursday, April 25th. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Thursday, June 13th. Mizuho raised their target price on shares of Lam Research from $935.00 to $960.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Evercore ISI assumed coverage on shares of Lam Research in a report on Tuesday, April 16th. They set an “outperform” rating and a $1,200.00 price target for the company. Finally, Susquehanna cut their price objective on Lam Research from $880.00 to $850.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus price target of $981.29.

Read Our Latest Report on Lam Research

Lam Research Price Performance

The company has a current ratio of 2.82, a quick ratio of 1.84 and a debt-to-equity ratio of 0.56. The business’s 50-day simple moving average is $990.42 and its two-hundred day simple moving average is $923.45. The firm has a market cap of $147.38 billion, a price-to-earnings ratio of 41.46, a P/E/G ratio of 3.20 and a beta of 1.48.

Lam Research’s stock is scheduled to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly issued shares will be issued to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCXGet Free Report) last announced its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53. The business had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.72 billion. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. Lam Research’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $6.99 earnings per share. As a group, research analysts expect that Lam Research Co. will post 29.67 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Tuesday, June 18th will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $8.00 annualized dividend and a yield of 0.71%. Lam Research’s dividend payout ratio is currently 29.42%.

Lam Research declared that its Board of Directors has initiated a stock buyback plan on Tuesday, May 21st that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 8.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction on Monday, July 1st. The shares were sold at an average price of $1,062.26, for a total value of $687,282.22. Following the completion of the sale, the chief accounting officer now owns 4,914 shares in the company, valued at approximately $5,219,945.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Lam Research news, CEO Timothy Archer sold 9,650 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $1,070.39, for a total value of $10,329,263.50. Following the transaction, the chief executive officer now owns 84,639 shares in the company, valued at $90,596,739.21. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Christina Correia sold 647 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $1,062.26, for a total value of $687,282.22. Following the sale, the chief accounting officer now owns 4,914 shares of the company’s stock, valued at approximately $5,219,945.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,166 shares of company stock worth $16,089,968. Corporate insiders own 0.32% of the company’s stock.

Institutional Trading of Lam Research

Several hedge funds have recently bought and sold shares of LRCX. Fortitude Family Office LLC grew its holdings in shares of Lam Research by 16.7% during the second quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock valued at $67,000 after buying an additional 9 shares during the last quarter. Thomasville National Bank raised its stake in shares of Lam Research by 1.5% in the second quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock worth $865,000 after purchasing an additional 12 shares during the last quarter. Arlington Trust Co LLC lifted its holdings in shares of Lam Research by 7.7% in the fourth quarter. Arlington Trust Co LLC now owns 182 shares of the semiconductor company’s stock valued at $143,000 after purchasing an additional 13 shares in the last quarter. Capital Performance Advisors LLP boosted its position in shares of Lam Research by 2.2% during the fourth quarter. Capital Performance Advisors LLP now owns 613 shares of the semiconductor company’s stock valued at $480,000 after buying an additional 13 shares during the last quarter. Finally, Van Leeuwen & Company LLC grew its holdings in Lam Research by 0.5% during the fourth quarter. Van Leeuwen & Company LLC now owns 2,583 shares of the semiconductor company’s stock worth $2,023,000 after buying an additional 13 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Company Profile

(Get Free Report)

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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