Lam Research Co. (NASDAQ:LRCX) SVP Sells $4,654,845.84 in Stock

Lam Research Co. (NASDAQ:LRCX) SVP Neil J. Fernandes sold 4,409 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the transaction, the senior vice president now owns 6,857 shares in the company, valued at $7,239,346.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Lam Research Stock Down 0.4 %

Shares of LRCX stock traded down $4.22 during trading hours on Monday, reaching $1,060.63. 614,203 shares of the company’s stock were exchanged, compared to its average volume of 1,020,970. Lam Research Co. has a 1 year low of $574.42 and a 1 year high of $1,101.81. The company has a current ratio of 2.82, a quick ratio of 1.84 and a debt-to-equity ratio of 0.56. The stock has a market cap of $138.67 billion, a PE ratio of 39.01, a PEG ratio of 3.68 and a beta of 1.48. The stock’s fifty day moving average price is $964.21 and its two-hundred day moving average price is $907.97.

Lam Research shares are scheduled to split on the morning of Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly created shares will be issued to shareholders after the market closes on Wednesday, October 2nd.

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

Lam Research Announces Dividend

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

Lam Research declared that its Board of Directors has authorized a share repurchase plan on Tuesday, May 21st that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase up to 8.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

LRCX has been the topic of a number of research analyst reports. Jefferies Financial Group initiated coverage on shares of Lam Research in a research note on Monday, May 13th. They issued a “buy” rating and a $1,100.00 target price on the stock. Mizuho upped their target price on shares of Lam Research from $935.00 to $960.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Cantor Fitzgerald restated a “neutral” rating and issued a $1,100.00 target price on shares of Lam Research in a research note on Thursday, April 25th. Wells Fargo & Company upped their target price on shares of Lam Research from $980.00 to $1,100.00 and gave the stock an “equal weight” rating in a research note on Monday, June 17th. Finally, Susquehanna dropped their target price on shares of Lam Research from $880.00 to $850.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and an average price target of $981.29.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Lam Research by 1.2% in the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after purchasing an additional 144,914 shares during the period. Fisher Asset Management LLC grew its holdings 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. Price T Rowe Associates Inc. MD grew its holdings in Lam Research by 5.1% during the first 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. Morgan Stanley grew its holdings in Lam Research by 3.2% during the third quarter. Morgan Stanley now owns 1,857,918 shares of the semiconductor company’s stock worth $1,164,490,000 after acquiring an additional 56,824 shares during the period. Finally, Norges Bank acquired a new stake in Lam Research during the fourth quarter worth about $1,414,111,000. 84.61% of the stock is 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.