Lam Research (NASDAQ:LRCX) Trading Up 3.2% – What’s Next?

Lam Research Co. (NASDAQ:LRCX)’s share price was up 3.2% during trading on Monday . The company traded as high as $86.30 and last traded at $85.57. Approximately 2,012,349 shares traded hands during trading, a decline of 82% from the average daily volume of 10,917,576 shares. The stock had previously closed at $82.89.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LRCX. B. Riley upped their price objective on Lam Research from $113.00 to $132.50 and gave the company a “buy” rating in a research note on Thursday, June 20th. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Citigroup dropped their price objective on Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research note on Monday, September 16th. Finally, TD Cowen boosted their target price on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $141.28.

Lam Research Stock Performance

The company has a market cap of $11.20 billion, a P/E ratio of 3.14, a price-to-earnings-growth ratio of 1.75 and a beta of 1.47. The company’s fifty day moving average is $94.96 and its 200 day moving average is $96.22. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.05. The company had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. Lam Research’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.60 EPS. As a group, equities analysts predict that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend was Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is presently 3.38%.

Insider Activity

In other news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the sale, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.32% of the company’s stock.

Institutional Trading of Lam Research

A number of hedge funds have recently modified their holdings of the business. Raleigh Capital Management Inc. increased its stake in Lam Research by 78.6% during the 4th quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 22 shares in the last quarter. Beacon Financial Group purchased a new position in Lam Research in the 4th quarter worth approximately $246,000. Centaurus Financial Inc. lifted its position in Lam Research by 43.6% in the 4th quarter. Centaurus Financial Inc. now owns 563 shares of the semiconductor company’s stock valued at $441,000 after acquiring an additional 171 shares in the last quarter. Scarborough Advisors LLC purchased a new stake in Lam Research during the 4th quarter valued at $45,000. Finally, Twin Focus Capital Partners LLC bought a new stake in shares of Lam Research in the 4th quarter worth $246,000. Institutional investors own 84.61% of the company’s stock.

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.