Lam Research Co. (NASDAQ:LRCX) Declares Quarterly Dividend of $0.23

Lam Research Co. (NASDAQ:LRCX) announced a quarterly dividend on Thursday, November 7th,RTT News reports. Investors of record on Wednesday, December 11th will be given a dividend of 0.23 per share by the semiconductor company on Wednesday, January 8th. This represents a $0.92 annualized dividend and a yield of 1.16%.

Lam Research has increased its dividend payment by an average of 15.0% per year over the last three years. Lam Research has a payout ratio of 25.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Lam Research to earn $4.11 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 22.4%.

Lam Research Price Performance

LRCX stock traded up $2.43 during midday trading on Thursday, hitting $79.21. The company’s stock had a trading volume of 10,015,933 shares, compared to its average volume of 11,274,799. Lam Research has a 12 month low of $64.11 and a 12 month high of $113.00. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $101.92 billion, a price-to-earnings ratio of 25.60, a price-to-earnings-growth ratio of 1.18 and a beta of 1.48. The company has a 50 day moving average of $77.73 and a two-hundred day moving average of $88.66.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The firm had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The company’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period in the prior year, the company earned $6.85 EPS. On average, analysts expect that Lam Research will post 3.52 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Morgan Stanley reduced their target price on Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. B. Riley reduced their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. TD Cowen increased their target price on Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Citigroup reduced their target price 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, BNP Paribas upgraded Lam Research to a “hold” rating in a research note on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $97.03.

Insider Activity

In other Lam Research 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 transaction of $528,928.97. Following the transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.29% of the company’s stock.

About Lam Research

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.