Lam Research (NASDAQ:LRCX) Stock Price Up 7% – Here’s What Happened

Shares of Lam Research Corporation (NASDAQ:LRCX) shot up 7% during mid-day trading on Friday . The company traded as high as $288.27 and last traded at $288.11. Approximately 19,460,364 shares changed hands during trading, an increase of 78% from the average session volume of 10,906,524 shares. The stock had previously closed at $269.31.

Wall Street Analyst Weigh In

LRCX has been the subject of a number of research analyst reports. Susquehanna reaffirmed a “positive” rating and issued a $475.00 target price (up from $385.00) on shares of Lam Research in a research report on Tuesday, June 30th. Sanford C. Bernstein boosted their price objective on Lam Research from $325.00 to $340.00 and gave the company an “outperform” rating in a report on Thursday, May 21st. UBS Group cut their target price on Lam Research from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Tuesday, September 1st. Jefferies Financial Group set a $335.00 price target on shares of Lam Research and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Citigroup restated a “buy” rating and set a $450.00 price objective (up from $315.00) on shares of Lam Research in a report on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $361.81.

Lam Research Stock Performance

The stock has a market cap of $360.52 billion, a P/E ratio of 50.02, a PEG ratio of 1.07 and a beta of 1.85. The company’s 50-day simple moving average is $307.78 and its 200 day simple moving average is $295.00. The company has a current ratio of 2.63, a quick ratio of 1.91 and a debt-to-equity ratio of 0.30.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, July 29th. The semiconductor company reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.13. The company had revenue of $6.72 billion for the quarter, compared to the consensus estimate of $6.66 billion. Lam Research had a net margin of 31.27% and a return on equity of 67.60%. The firm’s quarterly revenue was up 30.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.33 EPS. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. As a group, sell-side analysts expect that Lam Research Corporation will post 9.33 EPS for the current fiscal year.

Lam Research Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 23rd will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.5%. This is an increase from Lam Research’s previous quarterly dividend of $0.26. Lam Research’s payout ratio is currently 22.92%.

Insider Transactions at Lam Research

In other Lam Research news, insider Ava Harter sold 5,000 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $302.46, for a total transaction of $1,512,300.00. Following the completion of the transaction, the insider directly owned 42,462 shares of the company’s stock, valued at approximately $12,843,056.52. This represents a 10.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Abhijit Y. Talwalkar sold 18,282 shares of the business’s stock in a transaction on Monday, July 13th. The shares were sold at an average price of $335.00, for a total value of $6,124,470.00. Following the completion of the sale, the director owned 87,142 shares in the company, valued at approximately $29,192,570. The trade was a 17.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 32,839 shares of company stock worth $10,644,740 in the last quarter. Insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Lam Research

Several large investors have recently added to or reduced their stakes in the company. Wellington Altus USA Inc. raised its stake in Lam Research by 39.3% in the 2nd quarter. Wellington Altus USA Inc. now owns 1,686 shares of the semiconductor company’s stock valued at $731,000 after acquiring an additional 476 shares during the period. Smith Chas P & Associates PA Cpas bought a new position in Lam Research during the second quarter worth about $280,000. Talon Private Wealth LLC purchased a new position in shares of Lam Research in the second quarter worth about $1,081,000. Bouchey Financial Group Ltd. increased its stake in shares of Lam Research by 14.6% in the second quarter. Bouchey Financial Group Ltd. now owns 2,224 shares of the semiconductor company’s stock worth $964,000 after purchasing an additional 284 shares in the last quarter. Finally, Core Capital Management & Research inc. bought a new stake in shares of Lam Research in the second quarter valued at approximately $65,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Company Profile

Lam Research Corporation is a semiconductor equipment company that develops and manufactures systems used in the fabrication of integrated circuits. Its equipment supports key wafer-processing steps, including deposition, etch, wafer cleaning, and related processes used to create and connect the microscopic features found on semiconductor devices.

The company serves semiconductor manufacturers producing a range of products, including memory, logic, and specialty chips. In addition to manufacturing equipment, Lam Research provides installation, maintenance, spare parts, upgrades, technical support, and other services intended to help customers operate and improve their fabrication facilities.

Founded in 1980, Lam Research is headquartered in Fremont, California, and serves customers through a global network of offices, engineering facilities, and support operations.