Shares of Lam Research Co. (NASDAQ:LRCX) reached a new 52-week high on Thursday . The company traded as high as $556.23 and last traded at $555.61, with a volume of 25774 shares. The stock had previously closed at $526.50.
LRCX has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft downgraded Lam Research from a “buy” rating to a “hold” rating and lifted their target price for the stock from $400.00 to $500.00 in a research report on Thursday, December 17th. Morgan Stanley lifted their target price on Lam Research from $420.00 to $553.00 and gave the stock an “overweight” rating in a research report on Monday, December 14th. Mizuho lifted their target price on Lam Research from $410.00 to $530.00 and gave the stock a “buy” rating in a research report on Monday, December 28th. UBS Group boosted their price objective on shares of Lam Research from $400.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, October 22nd. Finally, Needham & Company LLC cut shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, January 8th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. Lam Research presently has a consensus rating of “Buy” and an average target price of $412.96.
The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.68 and a current ratio of 3.31. The firm’s 50-day simple moving average is $485.38 and its 200 day simple moving average is $388.56. The company has a market cap of $81.05 billion, a P/E ratio of 29.86, a PEG ratio of 1.34 and a beta of 1.33.
Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, October 21st. The semiconductor company reported $5.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $5.17 by $0.50. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.10 billion. Lam Research had a net margin of 23.60% and a return on equity of 55.82%. During the same period last year, the business posted $3.18 EPS. As a group, research analysts forecast that Lam Research Co. will post 22.31 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 6th. Shareholders of record on Wednesday, December 9th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.92%. The ex-dividend date was Tuesday, December 8th. Lam Research’s dividend payout ratio (DPR) is currently 32.60%.
In related news, CEO Timothy Archer sold 15,793 shares of the company’s stock in a transaction that occurred on Tuesday, December 29th. The shares were sold at an average price of $475.66, for a total transaction of $7,512,098.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Douglas R. Bettinger sold 14,556 shares of the company’s stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $358.01, for a total transaction of $5,211,193.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,758 shares of company stock valued at $26,985,698. 0.34% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of LRCX. PNC Financial Services Group Inc. grew its stake in shares of Lam Research by 2.1% during the second quarter. PNC Financial Services Group Inc. now owns 415,051 shares of the semiconductor company’s stock valued at $134,253,000 after buying an additional 8,693 shares during the last quarter. FormulaFolio Investments LLC acquired a new position in Lam Research in the second quarter valued at approximately $248,000. Orion Portfolio Solutions LLC lifted its stake in Lam Research by 28.5% in the second quarter. Orion Portfolio Solutions LLC now owns 605 shares of the semiconductor company’s stock valued at $196,000 after buying an additional 134 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Lam Research by 2.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 677,435 shares of the semiconductor company’s stock worth $219,124,000 after buying an additional 13,225 shares in the last quarter. Finally, Stephens Inc. AR grew its holdings in Lam Research by 7.4% during the second quarter. Stephens Inc. AR now owns 1,472 shares of the semiconductor company’s stock worth $476,000 after buying an additional 102 shares in the last quarter. 76.86% of the stock is currently owned by hedge funds and other institutional investors.
About Lam Research (NASDAQ:LRCX)
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits in the United States, China, Europe, Japan, Korea, Taiwan, and the southeast Asia. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.
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