Lam Research Co. (NASDAQ:LRCX) Short Interest Update

Lam Research Co. (NASDAQ:LRCX) was the target of a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 24,860,000 shares, a decline of 14.3% from the February 13th total of 29,020,000 shares. Based on an average daily trading volume, of 12,720,000 shares, the days-to-cover ratio is currently 2.0 days. Currently, 1.9% of the shares of the company are short sold.

Lam Research Price Performance

Shares of LRCX stock traded up $0.57 on Wednesday, reaching $77.93. The company’s stock had a trading volume of 8,783,717 shares, compared to its average volume of 11,021,749. The stock’s fifty day simple moving average is $79.57 and its 200-day simple moving average is $77.36. Lam Research has a 1 year low of $68.87 and a 1 year high of $113.00. The company has a market capitalization of $100.04 billion, a price-to-earnings ratio of 23.67, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Analysts forecast that Lam Research will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.18%. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the sale, the senior vice president now owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.29% of the stock is owned by insiders.

Institutional Investors Weigh In On Lam Research

Institutional investors have recently modified their holdings of the stock. Financial Perspectives Inc lifted its position in Lam Research by 908.8% in the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after buying an additional 309 shares during the last quarter. Fairway Wealth LLC lifted its holdings in shares of Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 306 shares during the last quarter. Atwood & Palmer Inc. purchased a new position in shares of Lam Research during the 4th quarter worth about $27,000. Midwest Capital Advisors LLC bought a new position in Lam Research during the 4th quarter valued at about $27,000. Finally, West Paces Advisors Inc. purchased a new stake in Lam Research in the 4th quarter worth about $27,000. 84.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LRCX has been the subject of a number of recent research reports. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research note on Friday, January 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $100.00 price objective on shares of Lam Research in a research report on Tuesday, February 18th. Morgan Stanley raised their target price on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Susquehanna raised Lam Research from a “neutral” rating to a “positive” rating and boosted their price target for the company from $75.00 to $125.00 in a report on Thursday, February 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price objective on shares of Lam Research in a research report on Thursday, January 30th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $98.22.

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.