Lam Research (NASDAQ:LRCX) Stock Passes Above 200-Day Moving Average of $902.19

Lam Research Co. (NASDAQ:LRCX) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $902.19 and traded as high as $1,084.76. Lam Research shares last traded at $1,055.83, with a volume of 882,483 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on LRCX shares. JPMorgan Chase & Co. boosted their price objective on Lam Research from $900.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft began coverage on Lam Research in a research note on Thursday, April 11th. They set a “hold” rating and a $1,000.00 price target for the company. Needham & Company LLC restated a “buy” rating and set a $1,030.00 price target on shares of Lam Research in a research note on Thursday, April 25th. Susquehanna cut their price objective on Lam Research from $880.00 to $850.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Finally, Jefferies Financial Group began coverage on Lam Research in a research report on Monday, May 13th. They issued a “buy” rating and a $1,100.00 price objective for the company. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and an average price target of $981.29.

Lam Research Trading Up 0.9 %

The company has a quick ratio of 1.84, a current ratio of 2.82 and a debt-to-equity ratio of 0.56. The firm has a market cap of $139.22 billion, a price-to-earnings ratio of 39.16, a price-to-earnings-growth ratio of 3.64 and a beta of 1.46. The business has a 50 day moving average of $964.21 and a 200 day moving average of $905.54.

Lam Research’s stock is scheduled to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly issued shares will be payable to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53. The business had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.72 billion. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $6.99 earnings per share. On average, research analysts forecast that Lam Research Co. will post 29.67 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Tuesday, June 18th will be paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Tuesday, June 18th. Lam Research’s payout ratio is 29.42%.

Lam Research announced that its Board of Directors has initiated a share repurchase program on Tuesday, May 21st that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to purchase up to 8.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the transaction, the director now directly owns 10,541 shares in the company, valued at approximately $10,246,168.23. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the transaction, the director now directly owns 10,541 shares in the company, valued at approximately $10,246,168.23. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider George M. Schisler sold 400 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $908.21, for a total value of $363,284.00. Following the sale, the insider now owns 5,661 shares in the company, valued at $5,141,376.81. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,989 shares of company stock valued at $1,904,810. Insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Lam Research

A number of hedge funds have recently bought and sold shares of LRCX. Norges Bank acquired a new stake in Lam Research during the 4th quarter valued at approximately $1,414,111,000. International Assets Investment Management LLC grew its stake in Lam Research by 76,165.7% during the 4th quarter. International Assets Investment Management LLC now owns 318,028 shares of the semiconductor company’s stock valued at $249,099,000 after purchasing an additional 317,611 shares in the last quarter. Cerity Partners LLC grew its stake in Lam Research by 1,125.6% during the 4th quarter. Cerity Partners LLC now owns 342,139 shares of the semiconductor company’s stock valued at $267,984,000 after purchasing an additional 314,224 shares in the last quarter. Swedbank AB acquired a new position in shares of Lam Research in the 1st quarter worth approximately $192,668,000. Finally, Van ECK Associates Corp grew its position in shares of Lam Research by 24.6% in the 1st quarter. Van ECK Associates Corp now owns 968,115 shares of the semiconductor company’s stock worth $940,592,000 after acquiring an additional 191,230 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

About Lam Research

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.