Lam Research (NASDAQ:LRCX) Stock Price Down 4.5% – Time to Sell?

Lam Research Corporation (NASDAQ:LRCX) shares traded down 4.5% on Monday . The stock traded as low as $278.45 and last traded at $291.61. Approximately 14,069,042 shares changed hands during trading, an increase of 25% from the average daily volume of 11,271,868 shares. The stock had previously closed at $305.21.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LRCX. Morgan Stanley boosted their price target on shares of Lam Research from $331.00 to $404.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Stifel Nicolaus boosted their target price on Lam Research from $325.00 to $425.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Rothschild & Co Redburn increased their price target on Lam Research from $305.00 to $420.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Oppenheimer restated an “outperform” rating and set a $400.00 price target (up from $330.00) on shares of Lam Research in a report on Monday, June 15th. Finally, Bank of America upped their price objective on Lam Research from $330.00 to $480.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and a consensus price target of $363.37.

Lam Research Trading Down 4.5%

The stock has a market cap of $364.68 billion, a PE ratio of 55.02, a PEG ratio of 1.81 and a beta of 1.80. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.77 and a current ratio of 2.54. The stock has a fifty day moving average price of $341.74 and a 200 day moving average price of $274.37.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Wednesday, June 17th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Wednesday, June 17th. Lam Research’s dividend payout ratio is presently 19.62%.

Insider Buying and Selling

In other Lam Research news, Director Eric Brandt sold 54,500 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $350.80, for a total transaction of $19,118,600.00. Following the transaction, the director directly owned 199,205 shares in the company, valued at $69,881,114. This trade represents a 21.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Neil J. Fernandes sold 18,170 shares of Lam Research stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $255.14, for a total value of $4,635,893.80. Following the completion of the sale, the senior vice president owned 66,129 shares of the company’s stock, valued at $16,872,153.06. The trade was a 21.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 98,611 shares of company stock valued at $32,250,190 in the last 90 days. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Lam Research during the 4th quarter valued at $3,645,427,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Lam Research by 352.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,695,210 shares of the semiconductor company’s stock worth $2,344,347,000 after purchasing an additional 10,666,540 shares during the period. Franklin Resources Inc. lifted its stake in Lam Research by 57.0% during the 4th quarter. Franklin Resources Inc. now owns 10,110,560 shares of the semiconductor company’s stock valued at $1,730,724,000 after acquiring an additional 3,671,073 shares during the period. Corient Private Wealth LLC boosted its holdings in Lam Research by 235.5% in the fourth quarter. Corient Private Wealth LLC now owns 5,199,441 shares of the semiconductor company’s stock valued at $890,040,000 after purchasing an additional 3,649,553 shares during the last quarter. Finally, J. Stern & Co. LLP boosted its stake in shares of Lam Research by 3,826.9% in the fourth quarter. J. Stern & Co. LLP now owns 3,459,377 shares of the semiconductor company’s stock worth $592,176,000 after buying an additional 3,371,283 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Lam Research Company Profile

Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.

Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.