Lam Research (NASDAQ:LRCX) Stock Passes Above 200-Day Moving Average of $902.19

Lam Research Co. (NASDAQ:LRCX)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $902.19 and traded as high as $1,084.76. Lam Research shares last traded at $1,055.83, with a volume of 882,483 shares.

Analysts Set New Price Targets

LRCX has been the topic of a number of recent analyst reports. Cantor Fitzgerald restated a “neutral” rating and set a $1,100.00 target price on shares of Lam Research in a research note on Thursday, April 25th. Barclays raised their target price on shares of Lam Research from $865.00 to $900.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 5th. UBS Group increased their price objective on shares of Lam Research from $1,130.00 to $1,150.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Wells Fargo & Company increased their price objective on shares of Lam Research from $980.00 to $1,100.00 and gave the company an “equal weight” rating in a report on Monday, June 17th. Finally, Citigroup increased their price objective on shares of Lam Research from $975.00 to $1,025.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and an average price target of $981.29.

Lam Research Trading Up 0.9 %

The stock’s fifty day moving average price is $964.21 and its 200 day moving average price is $905.54. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84. The stock has a market capitalization of $139.22 billion, a P/E ratio of 39.16, a PEG ratio of 3.64 and a beta of 1.46.

Shares of Lam Research are going to split on the morning of Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be distributed to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.26 by $0.53. The company had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the business earned $6.99 EPS. Research analysts forecast that Lam Research Co. will post 29.67 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Tuesday, June 18th will be given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Tuesday, June 18th. Lam Research’s payout ratio is 29.42%.

Lam Research declared that its Board of Directors has approved a stock buyback plan on Tuesday, May 21st that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 8.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Lam Research

In related 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 transaction, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related 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 transaction, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Abhijit Y. Talwalkar sold 882 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 transaction of $857,330.46. Following the completion of the transaction, the director now directly owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The disclosure for this sale can be found here. Insiders sold 1,989 shares of company stock valued at $1,904,810 in the last three months. 0.32% of the stock is owned by insiders.

Hedge Funds Weigh In On Lam Research

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Lam Research by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock worth $11,519,576,000 after purchasing an additional 144,914 shares during the period. Fisher Asset Management LLC grew its stake in shares of Lam Research by 3.0% during the 4th quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock worth $2,329,037,000 after purchasing an additional 86,721 shares during the period. Price T Rowe Associates Inc. MD grew its stake 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 purchasing an additional 142,903 shares during the period. Morgan Stanley grew its stake in shares of Lam Research by 3.2% during the 3rd quarter. Morgan Stanley now owns 1,857,918 shares of the semiconductor company’s stock worth $1,164,490,000 after purchasing an additional 56,824 shares during the period. Finally, Norges Bank acquired a new stake in shares of Lam Research during the 4th quarter worth approximately $1,414,111,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

About Lam Research

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.