Lam Research (NASDAQ:LRCX) Hits New 52-Week Low at $374.55

Lam Research Co. (NASDAQ:LRCXGet Rating) shares reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $374.55 and last traded at $375.43, with a volume of 36838 shares. The stock had previously closed at $386.83.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Citigroup reduced their price target on Lam Research from $720.00 to $700.00 in a research report on Thursday, July 28th. Morgan Stanley reduced their price target on Lam Research from $550.00 to $543.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 6th. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, September 2nd. B. Riley lowered Lam Research from a “buy” rating to a “neutral” rating and reduced their price target for the company from $625.00 to $525.00 in a research report on Wednesday, June 15th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Lam Research from $560.00 to $480.00 in a research report on Monday, July 18th. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Lam Research presently has a consensus rating of “Hold” and an average price target of $610.30.

Lam Research Stock Down 1.7 %

The business has a 50 day moving average of $460.60 and a 200-day moving average of $472.24. The stock has a market cap of $52.09 billion, a PE ratio of 11.81, a P/E/G ratio of 0.91 and a beta of 1.36. The company has a current ratio of 2.69, a quick ratio of 1.82 and a debt-to-equity ratio of 0.80.

Lam Research (NASDAQ:LRCXGet Rating) last posted its quarterly earnings data on Wednesday, July 27th. The semiconductor company reported $8.83 earnings per share for the quarter, topping analysts’ consensus estimates of $7.30 by $1.53. Lam Research had a return on equity of 75.71% and a net margin of 26.73%. The company had revenue of $4.64 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same period last year, the firm earned $8.09 EPS. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. Equities research analysts predict that Lam Research Co. will post 37.31 EPS for the current fiscal year.

Lam Research Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Wednesday, September 14th will be given a dividend of $1.725 per share. This represents a $6.90 dividend on an annualized basis and a yield of 1.81%. This is a boost from Lam Research’s previous quarterly dividend of $1.50. The ex-dividend date is Tuesday, September 13th. Lam Research’s dividend payout ratio (DPR) is presently 21.07%.

Institutional Trading of Lam Research

Hedge funds have recently added to or reduced their stakes in the stock. Vectors Research Management LLC lifted its position in Lam Research by 133.3% during the 4th quarter. Vectors Research Management LLC now owns 35 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 20 shares during the period. Stonebridge Capital Advisors LLC lifted its holdings in shares of Lam Research by 100.0% in the 4th quarter. Stonebridge Capital Advisors LLC now owns 38 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 19 shares during the period. Capital Advisory Group Advisory Services LLC acquired a new stake in shares of Lam Research in the 1st quarter valued at approximately $27,000. OLD Second National Bank of Aurora acquired a new stake in shares of Lam Research in the 1st quarter valued at approximately $27,000. Finally, Delos Wealth Advisors LLC acquired a new stake in shares of Lam Research in the 4th quarter valued at approximately $30,000. 80.09% of the stock is owned by institutional investors and hedge funds.

About Lam Research

(Get Rating)

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.

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