Lam Research Sees Unusually Large Options Volume (NASDAQ:LRCX)

Lam Research Co. (NASDAQ:LRCX) was the target of unusually large options trading on Monday. Stock investors purchased 71,369 call options on the company. This represents an increase of approximately 1,590% compared to the average daily volume of 4,222 call options.

Shares of NASDAQ:LRCX opened at $268.99 on Wednesday. The company has a current ratio of 3.59, a quick ratio of 2.99 and a debt-to-equity ratio of 0.76. Lam Research has a 12 month low of $122.64 and a 12 month high of $285.87. The company has a 50-day moving average price of $269.36 and a 200 day moving average price of $221.48. The company has a market cap of $39.15 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 1.31 and a beta of 1.64.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $3.18 EPS for the quarter, beating the Zacks’ consensus estimate of $3.01 by $0.17. Lam Research had a net margin of 22.38% and a return on equity of 43.11%. The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter last year, the firm earned $3.36 EPS. The firm’s revenue for the quarter was down 7.1% compared to the same quarter last year. As a group, equities analysts forecast that Lam Research will post 15.21 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Tuesday, December 10th. Lam Research’s payout ratio is 31.62%.

In other Lam Research news, CFO Douglas R. Bettinger sold 18,693 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $279.03, for a total value of $5,215,907.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy Archer sold 10,000 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $270.00, for a total value of $2,700,000.00. The disclosure for this sale can be found here. Insiders sold a total of 57,314 shares of company stock valued at $15,094,957 in the last quarter. 0.43% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the stock. Rational Advisors LLC lifted its holdings in shares of Lam Research by 989.3% in the 2nd quarter. Rational Advisors LLC now owns 305 shares of the semiconductor company’s stock valued at $57,000 after acquiring an additional 277 shares during the last quarter. KBC Group NV lifted its stake in Lam Research by 9.8% in the second quarter. KBC Group NV now owns 70,637 shares of the semiconductor company’s stock worth $13,268,000 after purchasing an additional 6,277 shares during the last quarter. Glen Harbor Capital Management LLC lifted its stake in Lam Research by 85.5% in the second quarter. Glen Harbor Capital Management LLC now owns 20,896 shares of the semiconductor company’s stock worth $3,925,000 after purchasing an additional 9,632 shares during the last quarter. North Star Investment Management Corp. bought a new stake in Lam Research in the third quarter worth about $150,000. Finally, Columbus Circle Investors bought a new stake in Lam Research in the third quarter worth about $14,633,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

LRCX has been the subject of a number of research analyst reports. UBS Group lowered Lam Research from a “neutral” rating to a “sell” rating in a research report on Wednesday, November 27th. Zacks Investment Research lowered Lam Research from a “buy” rating to a “hold” rating and set a $273.00 price objective for the company. in a research report on Monday, October 14th. Mizuho raised their price objective on Lam Research from $194.00 to $225.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. They noted that the move was a valuation call. DA Davidson raised their price objective on Lam Research to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Finally, Citigroup raised their price objective on Lam Research from $282.00 to $330.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $260.50.

About Lam Research

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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