Lam Research Co. (NASDAQ:LRCX) CAO Christina Correia Sells 647 Shares

Lam Research Co. (NASDAQ:LRCX) CAO Christina Correia sold 647 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the transaction, the chief accounting officer now owns 4,914 shares of the company’s stock, valued at $5,219,945.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Lam Research Trading Down 0.0 %

NASDAQ LRCX traded down $0.16 during mid-day trading on Tuesday, reaching $1,060.47. 185,890 shares of the stock were exchanged, compared to its average volume of 1,014,345. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84. The stock has a market cap of $138.65 billion, a P/E ratio of 39.00, a P/E/G ratio of 3.68 and a beta of 1.48. Lam Research Co. has a one year low of $574.42 and a one year high of $1,101.81. The stock has a 50 day simple moving average of $964.21 and a 200-day simple moving average of $907.97.

Shares of Lam Research are scheduled to split on the morning of Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly created shares will be payable to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The firm had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the previous year, the company earned $6.99 earnings per share. The company’s quarterly revenue was down 2.0% on a year-over-year basis. On average, analysts anticipate that Lam Research Co. will post 29.67 EPS for the current year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Tuesday, June 18th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Tuesday, June 18th. Lam Research’s dividend payout ratio (DPR) is presently 29.42%.

Lam Research announced that its board has authorized a share buyback program on Tuesday, May 21st that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to reacquire up to 8.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Institutional Trading of Lam Research

Hedge funds and other institutional investors have recently bought and sold shares of the company. Checchi Capital Advisers LLC increased its holdings in Lam Research by 1.0% during the 4th quarter. Checchi Capital Advisers LLC now owns 1,781 shares of the semiconductor company’s stock worth $1,395,000 after acquiring an additional 18 shares during the period. Citizens Financial Group Inc. RI grew its stake in Lam Research by 20.9% in the 4th quarter. Citizens Financial Group Inc. RI now owns 491 shares of the semiconductor company’s stock worth $384,000 after buying an additional 85 shares in the last quarter. Everence Capital Management Inc. grew its stake in Lam Research by 54.7% in the 4th quarter. Everence Capital Management Inc. now owns 4,073 shares of the semiconductor company’s stock worth $3,190,000 after buying an additional 1,440 shares in the last quarter. Gradient Investments LLC grew its stake in Lam Research by 32,411.1% in the 4th quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock worth $11,459,000 after buying an additional 14,585 shares in the last quarter. Finally, Contravisory Investment Management Inc. purchased a new position in Lam Research in the 4th quarter worth approximately $7,930,000. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LRCX. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,030.00 target price on shares of Lam Research in a report on Thursday, April 25th. Wells Fargo & Company increased their price target on shares of Lam Research from $980.00 to $1,100.00 and gave the company an “equal weight” rating in a report on Monday, June 17th. Jefferies Financial Group started coverage on shares of Lam Research in a report on Monday, May 13th. They issued a “buy” rating and a $1,100.00 price target on the stock. Citigroup increased their price target on shares of Lam Research from $975.00 to $1,025.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Finally, UBS Group increased their price target on shares of Lam Research from $1,130.00 to $1,150.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $981.29.

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.