Insider Selling: Lam Research Co. (NASDAQ:LRCX) SVP Sells $9,907,200.00 in Stock

Lam Research Co. (NASDAQ:LRCX) SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the sale, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $86.02 on Monday. The company has a market cap of $110.42 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The company has a 50-day simple moving average of $78.46 and a 200-day simple moving average of $78.04.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. On average, equities analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.07%. Lam Research’s payout ratio is 27.96%.

Institutional Investors Weigh In On Lam Research

A number of institutional investors have recently bought and sold shares of LRCX. Vanguard Group Inc. grew its stake in Lam Research by 892.7% during the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock worth $8,724,498,000 after buying an additional 108,619,564 shares during the period. FMR LLC grew its stake in Lam Research by 1,032.6% during the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company’s stock worth $2,891,453,000 after buying an additional 36,496,689 shares during the period. Ameriprise Financial Inc. grew its stake in Lam Research by 950.5% during the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company’s stock worth $2,495,128,000 after buying an additional 31,255,726 shares during the period. Geode Capital Management LLC grew its stake in Lam Research by 907.1% during the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company’s stock worth $2,265,610,000 after buying an additional 28,307,499 shares during the period. Finally, Norges Bank purchased a new stake in Lam Research during the fourth quarter worth approximately $1,661,672,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Lam Research in a research note on Thursday, January 30th. The Goldman Sachs Group reduced their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, January 10th. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a research note on Friday, January 17th. Finally, Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and raised their price objective for the company from $75.00 to $125.00 in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.22.

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.