Lam Research (NASDAQ:LRCX) Shares Up 1.1% – Time to Buy?

Lam Research Co. (NASDAQ:LRCX) was up 1.1% on Wednesday . The company traded as high as $77.50 and last traded at $77.21. Approximately 3,009,483 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 10,982,218 shares. The stock had previously closed at $76.36.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on LRCX shares. TD Cowen lifted their price objective on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Morgan Stanley lowered their price target on Lam Research from $92.90 to $77.40 and set an “equal weight” rating for the company in a research note on Tuesday, September 17th. B. Riley raised their price objective on shares of Lam Research from $113.00 to $132.50 and gave the company a “buy” rating in a research report on Thursday, June 20th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $113.00 target price on shares of Lam Research in a research report on Thursday, August 1st. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $141.28.

Lam Research Stock Performance

The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. The firm has a 50 day moving average of $80.29 and a two-hundred day moving average of $90.66. The stock has a market cap of $9.52 billion, a P/E ratio of 2.70, a P/E/G ratio of 1.75 and a beta of 1.47.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.05. The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. Lam Research’s quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter last year, the company posted $0.60 earnings per share. On average, research analysts predict that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date was Tuesday, September 17th. Lam Research’s dividend payout ratio is currently 3.38%.

Insider Activity at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the sale, the chief accounting officer now owns 4,267 shares in the company, valued at approximately $3,488,315.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Lam Research

Hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP grew its stake in Lam Research by 98.5% during the fourth quarter. Wellington Management Group LLP now owns 39,781 shares of the semiconductor company’s stock worth $31,159,000 after buying an additional 19,742 shares during the last quarter. Montecito Bank & Trust acquired a new stake in Lam Research in the 1st quarter valued at about $317,000. Fulton Bank N.A. raised its stake in shares of Lam Research by 15.6% in the first quarter. Fulton Bank N.A. now owns 1,104 shares of the semiconductor company’s stock worth $1,073,000 after acquiring an additional 149 shares during the last quarter. Wedmont Private Capital lifted its position in shares of Lam Research by 4.0% during the first quarter. Wedmont Private Capital now owns 1,386 shares of the semiconductor company’s stock worth $1,349,000 after purchasing an additional 53 shares in the last quarter. Finally, BCS Wealth Management bought a new stake in shares of Lam Research during the first quarter valued at approximately $214,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

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.