Lam Research Co. (NASDAQ:LRCX) to Issue Quarterly Dividend of $0.23

Lam Research Co. (NASDAQ:LRCX) announced a quarterly dividend on Tuesday, May 20th, RTT News reports. Investors of record on Wednesday, June 18th will be paid a dividend of 0.23 per share by the semiconductor company on Wednesday, July 9th. This represents a $0.92 annualized dividend and a yield of 1.03%. The ex-dividend date is Wednesday, June 18th.

Lam Research has a dividend payout ratio of 22.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Lam Research to earn $3.76 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 24.5%.

Lam Research Stock Performance

NASDAQ LRCX opened at $89.52 on Monday. The company has a fifty day moving average of $77.13 and a two-hundred day moving average of $77.05. The company has a market capitalization of $114.51 billion, a PE ratio of 27.19, a P/E/G ratio of 1.47 and a beta of 1.65. Lam Research has a 1 year low of $56.32 and a 1 year high of $113.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.04. The business had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The business’s quarterly revenue was up 24.4% on a year-over-year basis. During the same period in the previous year, the business earned $7.79 EPS. As a group, analysts expect that Lam Research will post 3.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

LRCX has been the topic of a number of recent research reports. Mizuho lifted their target price on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. UBS Group dropped their price objective on shares of Lam Research from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Barclays decreased their target price on shares of Lam Research from $75.00 to $70.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Needham & Company LLC dropped their price target on Lam Research from $96.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Finally, TD Securities decreased their price objective on Lam Research from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $90.87.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Lam Research stock. Caxton Associates LLP purchased a new position in Lam Research Co. (NASDAQ:LRCX) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,286 shares of the semiconductor company’s stock, valued at approximately $239,000. 84.61% of the stock is owned by institutional investors and hedge funds.

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.