Lam Research (NASDAQ:LRCX) Hits New 52-Week High at $240.58

Lam Research Co. (NASDAQ:LRCX) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $240.58 and last traded at $240.57, with a volume of 109428 shares trading hands. The stock had previously closed at $235.86.

LRCX has been the topic of several recent analyst reports. Needham & Company LLC lifted their target price on Lam Research from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, September 13th. DA Davidson downgraded Lam Research from a “buy” rating to a “neutral” rating and decreased their target price for the company from $225.00 to $200.00 in a research note on Monday, July 8th. Nomura began coverage on Lam Research in a research note on Wednesday, September 18th. They set a “neutral” rating and a $216.00 target price on the stock. Royal Bank of Canada restated a “buy” rating on shares of Lam Research in a report on Wednesday, August 7th. Finally, BidaskClub upgraded Lam Research from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Twelve equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $227.41.

The stock has a market cap of $34.92 billion, a PE ratio of 16.60, a PEG ratio of 1.44 and a beta of 1.62. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.96 and a current ratio of 3.61. The stock has a fifty day moving average price of $215.93 and a 200 day moving average price of $196.19.



Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, July 31st. The semiconductor company reported $3.62 EPS for the quarter, topping the Zacks’ consensus estimate of $3.40 by $0.22. The firm had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Lam Research had a return on equity of 43.72% and a net margin of 22.70%. The company’s quarterly revenue was down 24.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.31 EPS. As a group, equities analysts anticipate that Lam Research Co. will post 13.6 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Tuesday, October 1st will be issued a $1.15 dividend. This is a boost from Lam Research’s previous quarterly dividend of $1.10. The ex-dividend date is Monday, September 30th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.90%. Lam Research’s payout ratio is 30.24%.

In other news, insider Seshasayee Varadarajan sold 20,000 shares of Lam Research stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $200.00, for a total value of $4,000,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Sarah A. O’dowd sold 22,140 shares of Lam Research stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $233.77, for a total value of $5,175,667.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,997 shares of company stock valued at $14,854,855. Company insiders own 0.44% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hexavest Inc. purchased a new position in Lam Research during the 2nd quarter valued at $28,000. Zions Bancorporation N.A. purchased a new position in Lam Research during the 1st quarter valued at $28,000. MUFG Americas Holdings Corp boosted its holdings in Lam Research by 75.0% during the 2nd quarter. MUFG Americas Holdings Corp now owns 175 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 75 shares during the period. Next Capital Management LLC purchased a new position in Lam Research during the 2nd quarter valued at $35,000. Finally, HM Payson & Co. purchased a new position in Lam Research during the 2nd quarter valued at $36,000. Institutional investors own 88.42% of the company’s stock.

About Lam Research (NASDAQ:LRCX)

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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