Short Interest in Lam Research Co. (NASDAQ:LRCX) Increases By 1,365.0%

Lam Research Co. (NASDAQ:LRCX) was the recipient of a large increase in short interest in September. As of September 30th, there was short interest totalling 32,230,000 shares, an increase of 1,365.0% from the September 15th total of 2,200,000 shares. Based on an average daily trading volume, of 12,940,000 shares, the days-to-cover ratio is currently 2.5 days.

Lam Research Trading Down 1.0 %

NASDAQ LRCX traded down $0.80 during trading hours on Thursday, hitting $82.06. 6,933,894 shares of the company’s stock were exchanged, compared to its average volume of 10,984,244. Lam Research has a 1-year low of $57.44 and a 1-year high of $113.00. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. The stock has a 50-day simple moving average of $94.85 and a 200 day simple moving average of $96.42. The firm has a market cap of $10.73 billion, a price-to-earnings ratio of 3.03, a PEG ratio of 1.51 and a beta of 1.47.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.05. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company 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 company earned $0.60 EPS. Lam Research’s quarterly revenue was up 20.7% compared to the same quarter last year. On average, equities analysts forecast that Lam Research will post 35.2 EPS for the current fiscal year.

Lam Research Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date was Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is currently 3.38%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. TD Cowen raised their target price on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, August 1st. B. Riley raised their price objective on Lam Research from $113.00 to $132.50 and gave the company a “buy” rating in a research note on Thursday, June 20th. UBS Group lowered their target price on Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Mizuho reduced their price target on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $113.00 price target on shares of Lam Research in a report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $141.28.

Insider Buying and Selling at Lam Research

In other news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Neil J. Fernandes sold 16,200 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $105.70, for a total transaction of $1,712,323.80. Following the completion of the sale, the senior vice president now owns 52,370 shares of the company’s stock, valued at $5,535,456.63. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Christina Correia sold 647 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Lam Research

Several hedge funds and other institutional investors have recently modified their holdings of LRCX. Peak Financial Advisors LLC boosted its position in shares of Lam Research by 20.6% during the third quarter. Peak Financial Advisors LLC now owns 3,587 shares of the semiconductor company’s stock valued at $2,927,000 after buying an additional 613 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Lam Research by 37.6% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 7,865 shares of the semiconductor company’s stock worth $6,418,000 after purchasing an additional 2,150 shares during the period. Watts Gwilliam & Co. LLC bought a new stake in Lam Research in the third quarter worth about $2,308,000. Strategic Advisors LLC bought a new stake in shares of Lam Research in the 3rd quarter worth approximately $393,000. Finally, Pensionfund Sabic purchased a new position in Lam Research in the third quarter valued at approximately $1,306,000. Institutional investors own 84.61% of the company’s stock.

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.