Lam Research (NASDAQ:LRCX) Shares Down 0.4% – Here’s Why

Lam Research Co. (NASDAQ:LRCX) traded down 0.4% during trading on Tuesday . The stock traded as low as $75.53 and last traded at $75.86. 1,864,607 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 11,217,178 shares. The stock had previously closed at $76.17.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LRCX. Cantor Fitzgerald reiterated a “neutral” rating and set a $100.00 price objective on shares of Lam Research in a research report on Thursday, October 24th. BNP Paribas upgraded Lam Research to a “hold” rating in a research report on Thursday, October 24th. UBS Group lowered their price target on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. B. Riley reduced their price objective on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, TD Cowen raised their target price on shares of Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.03.

Lam Research Trading Up 1.3 %

The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The company has a fifty day moving average of $77.37 and a two-hundred day moving average of $88.21. The stock has a market capitalization of $96.23 billion, a price-to-earnings ratio of 24.32, a price-to-earnings-growth ratio of 1.20 and a beta of 1.48.

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

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be given a $0.23 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 annualized dividend and a yield of 1.23%. Lam Research’s dividend payout ratio is 29.74%.

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 sale, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. The trade was a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in LRCX. Van ECK Associates Corp increased its stake in shares of Lam Research by 1,394.7% in the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after buying an additional 15,005,178 shares during the period. Vanguard Group Inc. lifted its position in Lam Research by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after purchasing an additional 144,914 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Lam Research by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock valued at $2,875,023,000 after purchasing an additional 142,903 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Lam Research by 0.6% in the third quarter. Fisher Asset Management LLC now owns 1,871,473 shares of the semiconductor company’s stock valued at $1,527,273,000 after buying an additional 11,093 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in Lam Research by 7.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock worth $1,335,522,000 after buying an additional 89,470 shares during the period. 84.61% of the stock is owned by institutional investors.

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.