Lam Research (NASDAQ:LRCX) Stock Price Up 1.1% – What’s Next?

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

Analyst Ratings Changes

LRCX has been the subject of several research reports. Wells Fargo & Company reduced their price target on shares of Lam Research from $1,000.00 to $880.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Morgan Stanley reduced their target price on shares of Lam Research from $92.90 to $77.40 and set an “equal weight” rating for the company in a report on Tuesday, September 17th. 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. Mizuho reduced their price objective on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Finally, StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $141.28.

Lam Research Stock Performance

The stock has a market cap of $9.52 billion, a P/E ratio of 2.70, a PEG ratio of 1.75 and a beta of 1.47. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. The company has a fifty day moving average of $80.29 and a 200 day moving average of $90.66.

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

Lam Research Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Tuesday, September 17th. Lam Research’s dividend payout ratio is presently 3.38%.

Insider Buying and Selling

In other Lam Research news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the sale, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.32% of the company’s stock.

Institutional Trading of Lam Research

A number of hedge funds have recently modified their holdings of LRCX. CarsonAllaria Wealth Management Ltd. acquired a new position in Lam Research during the second quarter valued at $32,000. RFP Financial Group LLC increased its holdings in shares of Lam Research by 52.2% in the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 12 shares during the period. Hobbs Group Advisors LLC purchased a new stake in shares of Lam Research in the second quarter worth approximately $40,000. Country Trust Bank acquired a new stake in shares of Lam Research during the second quarter worth approximately $43,000. Finally, MFA Wealth Advisors LLC purchased a new position in Lam Research during the second quarter valued at approximately $45,000. Hedge funds and other institutional investors 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.