Lam Research (NASDAQ:LRCX) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of Lam Research (NASDAQ:LRCX) from a buy rating to a hold rating in a research note published on Friday morning.

LRCX has been the topic of several other reports. Raymond James lifted their target price on shares of Lam Research from $950.00 to $1,060.00 and gave the stock an outperform rating in a research note on Friday, June 7th. UBS Group upped their price objective on shares of Lam Research from $1,130.00 to $1,150.00 and gave the company a buy rating in a research note on Thursday, April 25th. Stifel Nicolaus boosted their price target on Lam Research from $950.00 to $1,050.00 and gave the company a buy rating in a report on Tuesday, April 16th. Evercore ISI started coverage on Lam Research in a report on Tuesday, April 16th. They issued an outperform rating and a $1,200.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft started coverage on Lam Research in a research note on Thursday, April 11th. They set a hold rating and a $1,000.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $1,007.85.

Lam Research Trading Down 0.3 %

Shares of LRCX stock opened at $892.34 on Friday. The business has a 50-day moving average of $1,009.62 and a 200 day moving average of $945.01. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84. Lam Research has a 1-year low of $574.42 and a 1-year high of $1,130.00. The stock has a market capitalization of $116.66 billion, a PE ratio of 32.82, a P/E/G ratio of 2.58 and a beta of 1.48.

Lam Research’s stock is set to split before the market opens on 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Tuesday, June 18th were given a $2.00 dividend. The ex-dividend date was Tuesday, June 18th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.90%. Lam Research’s dividend payout ratio is currently 29.42%.

Lam Research declared that its board has authorized a share buyback plan on Tuesday, May 21st that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to reacquire up to 8.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Lam Research

In other news, CAO Christina Correia sold 647 shares of the stock in a transaction on Monday, July 1st. The stock was 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 directly owns 4,914 shares of the company’s stock, valued at $5,219,945.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CAO Christina Correia sold 647 shares of the company’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 transaction, the chief accounting officer now owns 4,914 shares in the company, valued at $5,219,945.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Neil J. Fernandes sold 1,620 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $1,056.99, for a total transaction of $1,712,323.80. Following the sale, the senior vice president now owns 5,237 shares in the company, valued at approximately $5,535,456.63. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,726 shares of company stock worth $17,746,999. 0.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Checchi Capital Advisers LLC raised its position in Lam Research by 1.0% in the 4th quarter. Checchi Capital Advisers LLC now owns 1,781 shares of the semiconductor company’s stock worth $1,395,000 after buying an additional 18 shares during the last quarter. Citizens Financial Group Inc. RI grew its stake in shares of Lam Research by 20.9% in the fourth quarter. Citizens Financial Group Inc. RI now owns 491 shares of the semiconductor company’s stock worth $384,000 after acquiring an additional 85 shares during the period. Everence Capital Management Inc. raised its holdings in shares of Lam Research by 54.7% during the fourth quarter. Everence Capital Management Inc. now owns 4,073 shares of the semiconductor company’s stock valued at $3,190,000 after purchasing an additional 1,440 shares during the last quarter. Gradient Investments LLC lifted its position in Lam Research by 32,411.1% during the fourth quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock valued at $11,459,000 after purchasing an additional 14,585 shares during the period. Finally, Jump Financial LLC boosted its holdings in Lam Research by 108.1% in the fourth quarter. Jump Financial LLC now owns 2,283 shares of the semiconductor company’s stock worth $1,788,000 after purchasing an additional 1,186 shares during the last quarter. 84.61% of the stock is owned by 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.