Lam Research Sees Unusually High Options Volume (NASDAQ:LRCX)

Lam Research Co. (NASDAQ:LRCX) was the recipient of unusually large options trading on Tuesday. Traders bought 109,479 call options on the company. This represents an increase of approximately 278% compared to the typical daily volume of 28,929 call options.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft set a $70.00 price objective on Lam Research and gave the company a “hold” rating in a report on Thursday, April 24th. Morgan Stanley raised their price objective on Lam Research from $81.00 to $82.00 and gave the company an “equal weight” rating in a report on Thursday, April 24th. Jefferies Financial Group raised their price objective on Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a report on Friday, March 28th. UBS Group cut their price objective on Lam Research from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, Argus raised Lam Research to a “strong-buy” rating in a report on Friday, April 25th. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $92.30.

Hedge Funds Weigh In On Lam Research

Large investors have recently modified their holdings of the company. One Charles Private Wealth Services LLC grew its stake in shares of Lam Research by 843.4% during the fourth quarter. One Charles Private Wealth Services LLC now owns 4,000 shares of the semiconductor company’s stock valued at $289,000 after buying an additional 3,576 shares during the last quarter. Brighton Jones LLC grew its stake in shares of Lam Research by 1,032.4% during the fourth quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company’s stock valued at $1,025,000 after buying an additional 12,936 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Lam Research by 1,159.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 243,502 shares of the semiconductor company’s stock valued at $17,639,000 after buying an additional 224,164 shares during the last quarter. Congress Asset Management Co. grew its stake in shares of Lam Research by 903.7% during the fourth quarter. Congress Asset Management Co. now owns 3,764 shares of the semiconductor company’s stock valued at $272,000 after buying an additional 3,389 shares during the last quarter. Finally, Montag A & Associates Inc. grew its stake in shares of Lam Research by 916.4% during the fourth quarter. Montag A & Associates Inc. now owns 17,798 shares of the semiconductor company’s stock valued at $1,290,000 after buying an additional 16,047 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Stock Down 0.5%

LRCX traded down $0.51 during midday trading on Tuesday, reaching $92.90. 6,895,602 shares of the company were exchanged, compared to its average volume of 12,282,011. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The company’s fifty day moving average price is $77.79 and its 200 day moving average price is $77.18. The company has a market cap of $118.83 billion, a price-to-earnings ratio of 28.26, a price-to-earnings-growth ratio of 1.47 and a beta of 1.65. Lam Research has a one year low of $56.32 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.00 by $0.04. The business had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. Lam Research’s revenue for the quarter was up 24.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $7.79 earnings per share. As a group, analysts expect that Lam Research will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be given a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.99%. Lam Research’s dividend payout ratio (DPR) is presently 25.63%.

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.