News stories about Lam Research (NASDAQ:LRCX) have been trending somewhat positive on Wednesday, Accern reports. Accern scores the sentiment of media coverage by reviewing more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Lam Research earned a coverage optimism score of 0.23 on Accern’s scale. Accern also gave news articles about the semiconductor company an impact score of 46.3388568595725 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
Here are some of the media stories that may have impacted Accern Sentiment Analysis’s analysis:
- 5 Tech Stocks Hitting New All-Time Highs Today (finance.yahoo.com)
- Insider Selling: Lam Research Co. (LRCX) Insider Sells 6,465 Shares of Stock (americanbankingnews.com)
- Micron Surges 5% as Instinet Hikes Target to $100: Cusp of Another Breakout (finance.yahoo.com)
- Apple Supplier, Lam Research Lead 5 Chip Stocks In Buy Zones As Sector Lifts Nasdaq, S&P 500 – Investor’s Business Daily (investors.com)
- Lam Research Co. (LRCX) Expected to Announce Earnings of $4.36 Per Share (americanbankingnews.com)
Shares of Lam Research (NASDAQ:LRCX) traded down $1.33 during trading on Wednesday, reaching $222.64. 3,278,625 shares of the company were exchanged, compared to its average volume of 3,970,127. The company has a current ratio of 2.47, a quick ratio of 2.09 and a debt-to-equity ratio of 0.29. Lam Research has a 12-month low of $122.25 and a 12-month high of $234.88. The stock has a market cap of $36,280.00, a PE ratio of 75.99, a price-to-earnings-growth ratio of 0.92 and a beta of 1.43.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 28th. Stockholders of record on Wednesday, March 7th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, March 6th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.90%. Lam Research’s dividend payout ratio (DPR) is presently 68.26%.
Lam Research announced that its Board of Directors has initiated a share repurchase plan on Tuesday, November 14th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
LRCX has been the subject of several research analyst reports. BidaskClub upgraded Lam Research from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Vetr cut Lam Research from a “strong-buy” rating to a “buy” rating and set a $240.39 price objective on the stock. in a research note on Monday. DA Davidson increased their price objective on Lam Research to $275.00 and gave the company a “buy” rating in a research note on Thursday, March 8th. Deutsche Bank raised their price target on Lam Research to $250.00 and gave the company a “buy” rating in a research note on Wednesday, March 7th. Finally, Citigroup reiterated a “positive” rating and set a $290.00 target price (up previously from $260.00) on shares of Lam Research in a research report on Wednesday, March 7th. Twenty-five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Lam Research presently has an average rating of “Buy” and a consensus target price of $239.28.
In related news, insider Timothy Archer sold 6,465 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $214.28, for a total transaction of $1,385,320.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Seshasayee Varadarajan sold 25,453 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $215.00, for a total transaction of $5,472,395.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,619 shares of company stock worth $10,790,107. Company insiders own 0.41% of the company’s stock.
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Lam Research Company Profile
Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.
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