Lam Research (NASDAQ:LRCX) Shares Down 0.4% – Here’s Why

Shares of Lam Research Co. (NASDAQ:LRCX) traded down 0.4% during mid-day trading on Monday . The company traded as low as $72.15 and last traded at $72.54. 1,548,428 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 11,114,733 shares. The stock had previously closed at $72.84.

Wall Street Analysts Forecast Growth

A number of analysts have commented on LRCX shares. StockNews.com cut Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Wells Fargo & Company decreased their target price on Lam Research from $1,000.00 to $880.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. UBS Group cut their price target on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Needham & Company LLC restated a “buy” rating and set a $113.00 price objective on shares of Lam Research in a research note on Thursday, August 1st. Finally, Morgan Stanley cut their price objective on shares of Lam Research from $81.00 to $77.00 in a research note on Wednesday. Six investment 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 stock has an average rating of “Moderate Buy” and an average target price of $139.82.

Lam Research Stock Down 0.2 %

The stock has a market cap of $9.53 billion, a price-to-earnings ratio of 2.65, a PEG ratio of 1.75 and a beta of 1.47. The business’s 50 day moving average is $79.82 and its 200-day moving average is $90.11. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97.

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

Lam Research Cuts Dividend

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

Insider Transactions at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the transaction, the chief accounting officer now owns 4,267 shares in the company, valued at approximately $3,488,315.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Lam Research by 1.2% during the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock worth $11,519,576,000 after buying an additional 144,914 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Lam Research by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock worth $2,875,023,000 after acquiring an additional 142,903 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Lam Research by 7.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock valued at $1,335,522,000 after acquiring an additional 89,470 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Lam Research by 11.1% in the second quarter. Van ECK Associates Corp now owns 1,075,893 shares of the semiconductor company’s stock valued at $1,145,664,000 after purchasing an additional 107,778 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Lam Research by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company’s stock worth $654,009,000 after purchasing an additional 25,362 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

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.