Lam Research (NASDAQ:LRCX) Shares Down 2.6%

Lam Research Co. (NASDAQ:LRCX) was down 2.6% during mid-day trading on Wednesday . The stock traded as low as $935.19 and last traded at $938.55. Approximately 124,118 shares were traded during trading, a decline of 88% from the average daily volume of 1,005,383 shares. The stock had previously closed at $963.23.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on LRCX shares. Raymond James boosted their price objective on shares of Lam Research from $850.00 to $950.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Barclays boosted their price objective on shares of Lam Research from $750.00 to $825.00 and gave the company an “equal weight” rating in a research note on Thursday, January 25th. Needham & Company LLC boosted their price objective on shares of Lam Research from $900.00 to $1,030.00 and gave the company a “buy” rating in a research note on Thursday. Wells Fargo & Company upped their price target on shares of Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Finally, Evercore ISI assumed coverage on shares of Lam Research in a research report on Tuesday. They set an “outperform” rating and a $1,200.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and an average price target of $881.45.

Lam Research Trading Down 2.6 %

The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61. The firm has a market cap of $116.54 billion, a P/E ratio of 34.37, a P/E/G ratio of 3.30 and a beta of 1.51. The business’s 50-day moving average is $946.27 and its two-hundred day moving average is $798.17.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 EPS for the quarter, beating the consensus estimate of $7.06 by $0.46. The business had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.71 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The firm’s quarterly revenue was down 28.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.71 EPS. As a group, analysts expect that Lam Research Co. will post 28.9 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were given a $2.00 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a yield of 0.90%. Lam Research’s payout ratio is 30.94%.

Insiders Place Their Bets

In other Lam Research news, CAO Christina Corrreia sold 647 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the sale, the chief accounting officer now owns 5,541 shares in the company, valued at approximately $5,386,018.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $857,330.46. Following the transaction, the director now owns 10,541 shares in the company, valued at approximately $10,246,168.23. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Christina Corrreia sold 647 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of the sale, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The disclosure for this sale can be found here. Insiders sold a total of 7,029 shares of company stock worth $6,559,489 in the last quarter. 0.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lam Research

Hedge funds and other institutional investors have recently made changes to their positions in the business. Moneta Group Investment Advisors LLC raised its position in shares of Lam Research by 117,180.9% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 32,822,222 shares of the semiconductor company’s stock valued at $13,795,180,000 after purchasing an additional 32,794,236 shares during the period. Vanguard Group Inc. raised its position in shares of Lam Research by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 11,711,747 shares of the semiconductor company’s stock valued at $9,173,343,000 after purchasing an additional 79,581 shares during the period. State Street Corp raised its position in shares of Lam Research by 1.7% in the first quarter. State Street Corp now owns 5,697,200 shares of the semiconductor company’s stock valued at $3,029,550,000 after purchasing an additional 92,606 shares during the period. Fisher Asset Management LLC increased its position in Lam Research by 3.0% during the fourth quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock worth $2,329,037,000 after acquiring an additional 86,721 shares during the period. Finally, Geode Capital Management LLC increased its position in Lam Research by 0.8% during the first quarter. Geode Capital Management LLC now owns 2,542,805 shares of the semiconductor company’s stock worth $1,345,403,000 after acquiring an additional 19,280 shares during the period. 84.61% of the stock is owned by institutional investors.

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.