Lam Research (NASDAQ:LRCX) Trading Down 0.4% – Here’s What Happened

Lam Research Co. (NASDAQ:LRCX) fell 0.4% during trading on Monday . The stock traded as low as $72.15 and last traded at $72.54. 1,548,428 shares were traded during mid-day trading, a decline of 86% from the average session volume of 11,114,733 shares. The stock had previously closed at $72.84.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $113.00 price objective on shares of Lam Research in a research report on Thursday, August 1st. Mizuho reduced their price objective on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Morgan Stanley lowered their target price on shares of Lam Research from $92.90 to $77.40 and set an “equal weight” rating on the stock in a research report on Tuesday, September 17th. TD Cowen boosted their price target on Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company decreased their price target on Lam Research from $1,000.00 to $880.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $141.28.

Lam Research Trading Down 0.4 %

The business has a 50-day moving average of $80.15 and a two-hundred day moving average of $90.44. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $9.49 billion, a price-to-earnings ratio of 2.67, a P/E/G ratio of 1.75 and a beta of 1.47.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data 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. The business had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. Lam Research’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 earnings per share. Research analysts predict that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were paid a $0.23 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.92 dividend on an annualized basis and a yield of 1.27%. Lam Research’s payout ratio is currently 3.38%.

Insider Buying and Selling

In other news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the sale, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Lam Research

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in 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 buying an additional 144,914 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Lam Research by 5.1% during the 1st 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 last quarter. Massachusetts Financial Services Co. MA increased its holdings in Lam Research by 7.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock valued at $1,335,522,000 after purchasing an additional 89,470 shares in the last quarter. Van ECK Associates Corp raised its position in Lam Research by 11.1% in the 2nd quarter. Van ECK Associates Corp now owns 1,075,893 shares of the semiconductor company’s stock valued at $1,145,664,000 after purchasing an additional 107,778 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Lam Research by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company’s stock worth $654,009,000 after purchasing an additional 25,362 shares in the last quarter. Institutional investors and hedge funds 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.