Lam Research (NASDAQ:LRCX) Shares Scheduled to Split on Thursday, October 3rd

Lam Research Co. (NASDAQ:LRCX) shares are set to split before the market opens on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly created shares will be distributed to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $827.12 on Friday. The business’s 50 day moving average price is $817.83 and its two-hundred day moving average price is $920.42. The company has a market cap of $108.14 billion, a PE ratio of 30.42, a price-to-earnings-growth ratio of 1.51 and a beta of 1.48. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. Lam Research has a twelve month low of $574.42 and a twelve month high of $1,130.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share for the quarter, topping analysts’ consensus estimates of $7.58 by $0.56. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the previous year, the business earned $5.98 earnings per share. The business’s revenue was up 20.7% compared to the same quarter last year. On average, analysts predict that Lam Research will post 35.2 EPS for the current year.

Lam Research Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Tuesday, September 17th. This is a boost from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s payout ratio is currently 33.84%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on LRCX shares. Wells Fargo & Company reduced their price objective on Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. Needham & Company LLC reiterated a “buy” rating and issued a $1,130.00 price target on shares of Lam Research in a research note on Thursday, August 1st. Cantor Fitzgerald reiterated a “neutral” rating and issued a $1,200.00 price target on shares of Lam Research in a research note on Thursday, August 1st. Raymond James boosted their price target on Lam Research from $950.00 to $1,060.00 and gave the company an “outperform” rating in a research note on Friday, June 7th. Finally, TD Cowen boosted their price target on Lam Research from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Lam Research has an average rating of “Moderate Buy” and a consensus price target of $1,012.84.

Insider Activity at Lam Research

In related news, SVP Neil J. Fernandes sold 1,620 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $1,056.99, for a total value of $1,712,323.80. Following the completion of the sale, the senior vice president now directly owns 5,237 shares in the company, valued at $5,535,456.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Lam Research news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the sale, the chief accounting officer now owns 4,914 shares of the company’s stock, valued at $5,219,945.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Neil J. Fernandes sold 1,620 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $1,056.99, for a total transaction of $1,712,323.80. Following the sale, the senior vice president now directly owns 5,237 shares in the company, valued at approximately $5,535,456.63. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.

Institutional Trading of Lam Research

A number of institutional investors have recently bought and sold shares of LRCX. CarsonAllaria Wealth Management Ltd. bought a new stake in Lam Research during the second quarter valued at $32,000. RFP Financial Group LLC boosted its position in Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 12 shares during the last quarter. Raleigh Capital Management Inc. boosted its position in Lam Research by 78.6% during the fourth quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 22 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in Lam Research during the second quarter valued at $40,000. Finally, Country Trust Bank bought a new stake in Lam Research during the second quarter valued at $43,000. 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.