Lam Research (NASDAQ:LRCX) Stock Price Down 0.8% – Here’s What Happened

Lam Research Co. (NASDAQ:LRCX) was down 0.8% during trading on Friday . The stock traded as low as $78.32 and last traded at $78.61. Approximately 1,221,039 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 11,235,416 shares. The stock had previously closed at $79.21.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LRCX. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. Citigroup dropped their price target on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research report on Monday, September 16th. UBS Group decreased their price target on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Morgan Stanley dropped their price objective on Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Finally, B. Riley reduced their price objective on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $97.03.

Lam Research Trading Down 1.3 %

The firm has a market cap of $100.62 billion, a PE ratio of 25.27, a P/E/G ratio of 1.22 and a beta of 1.48. The company’s 50 day moving average price is $77.67 and its two-hundred day moving average price is $88.52. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The business had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same quarter in the previous year, the business earned $6.85 earnings per share. The company’s revenue for the quarter was up 19.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.18%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio is presently 29.74%.

Insider Activity at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the company’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 transaction, the chief accounting officer now directly owns 4,267 shares in the company, valued at $3,488,315.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lam Research

A number of hedge funds and other institutional investors have recently made changes to their positions in LRCX. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Lam Research in the 2nd quarter worth approximately $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 purchasing an additional 12 shares in the last quarter. Hobbs Group Advisors LLC purchased a new position in Lam Research in the second quarter valued at about $40,000. Country Trust Bank purchased a new position in Lam Research in the second quarter worth $43,000. Finally, MFA Wealth Advisors LLC acquired a new position in Lam Research during the 2nd quarter valued at about $45,000. 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.