Insider Selling: Lam Research Co. (NASDAQ:LRCX) EVP Sells 60 Shares of Stock

Lam Research Co. (NASDAQ:LRCX) EVP Patrick J. Lord sold 60 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $921.54, for a total value of $55,292.40. Following the completion of the transaction, the executive vice president now owns 4,454 shares in the company, valued at approximately $4,104,539.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Lam Research Price Performance

Lam Research stock opened at $883.68 on Friday. The stock’s 50 day moving average is $941.71 and its 200 day moving average is $816.04. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84. The firm has a market cap of $115.85 billion, a P/E ratio of 32.50, a P/E/G ratio of 2.78 and a beta of 1.51. Lam Research Co. has a one year low of $507.19 and a one year high of $1,007.39.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53. The company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.72 billion. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $6.99 earnings per share. As a group, research analysts expect that Lam Research Co. will post 29.62 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were issued a $2.00 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a yield of 0.91%. Lam Research’s payout ratio is currently 29.42%.

Analyst Ratings Changes

A number of research analysts recently commented on LRCX shares. StockNews.com upgraded Lam Research from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Needham & Company LLC restated a “buy” rating and issued a $1,030.00 price target on shares of Lam Research in a research report on Thursday, April 25th. Evercore ISI started coverage on Lam Research in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $1,200.00 price target on the stock. Barclays raised their price target on Lam Research from $825.00 to $865.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. Finally, The Goldman Sachs Group raised their price target on Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and an average target price of $950.85.

Institutional Investors Weigh In On Lam Research

A number of hedge funds have recently added to or reduced their stakes in LRCX. Orion Capital Management LLC bought a new stake in Lam Research in the third quarter worth approximately $25,000. BluePath Capital Management LLC bought a new stake in Lam Research in the third quarter worth approximately $28,000. DSM Capital Partners LLC bought a new stake in shares of Lam Research during the fourth quarter valued at approximately $28,000. OFI Invest Asset Management bought a new stake in shares of Lam Research during the third quarter valued at approximately $30,000. Finally, Asset Dedication LLC increased its holdings in shares of Lam Research by 56.7% during the third quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 17 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

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.