Lam Research (NASDAQ:LRCX) Trading 3.2% Higher – Time to Buy?

Lam Research Co. (NASDAQ:LRCX) traded up 3.2% during trading on Monday . The stock traded as high as $86.30 and last traded at $85.57. 2,012,349 shares traded hands during trading, a decline of 82% from the average session volume of 10,917,576 shares. The stock had previously closed at $82.89.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LRCX. Cantor Fitzgerald lowered their price target on Lam Research from $120.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, September 30th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. UBS Group decreased their target price on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Mizuho decreased their price target on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $113.00 target price on shares of Lam Research in a research note on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $141.28.

Lam Research Stock Down 2.9 %

The company has a fifty day moving average price of $95.12 and a 200 day moving average price of $95.99. The company has a market cap of $9.69 billion, a PE ratio of 2.77, a price-to-earnings-growth ratio of 1.75 and a beta of 1.47. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.05. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The business had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.82 billion. During the same quarter in the prior year, the firm earned $0.60 earnings per share. Lam Research’s revenue for the quarter was up 20.7% on a year-over-year basis. As a group, analysts anticipate that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend was Tuesday, September 17th. Lam Research’s payout ratio is 3.38%.

Insider Activity at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction on Tuesday, October 1st. The stock was 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 in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Lam Research in the 2nd quarter worth $32,000. RFP Financial Group LLC boosted its stake in shares of 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 during the period. Hobbs Group Advisors LLC bought a new position in shares of Lam Research in the second quarter worth about $40,000. Country Trust Bank bought a new position in shares of Lam Research during the 2nd quarter worth $43,000. Finally, Scarborough Advisors LLC bought a new position in shares of Lam Research during the fourth quarter valued at approximately $45,000. Hedge funds and other 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.