Lam Research (NASDAQ:LRCX) Stock Price Up 0.2% – Here’s Why

Lam Research Co. (NASDAQ:LRCX)’s share price shot up 0.2% during mid-day trading on Wednesday . The company traded as high as $73.46 and last traded at $73.17. 3,317,607 shares were traded during trading, a decline of 70% from the average session volume of 11,133,337 shares. The stock had previously closed at $73.00.

Wall Street Analysts Forecast Growth

LRCX has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. UBS Group reduced their target price on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. StockNews.com cut Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Cantor Fitzgerald reduced their price target on Lam Research from $120.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, September 30th. Finally, Morgan Stanley lowered their price objective on Lam Research from $81.00 to $77.00 in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and an average price target of $139.82.

Lam Research Trading Down 1.4 %

The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. The stock’s 50-day moving average is $79.82 and its two-hundred day moving average is $90.11. The company has a market cap of $9.41 billion, a P/E ratio of 2.65, a P/E/G ratio of 1.75 and a beta of 1.47.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.05. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The firm had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.82 billion. During the same period in the prior year, the firm earned $0.60 EPS. The company’s revenue was up 20.7% compared to the same quarter last year. As a group, equities research analysts predict that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.28%. The ex-dividend date was Tuesday, September 17th. Lam Research’s payout ratio is currently 3.38%.

Insider Transactions at Lam Research

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

Institutional Trading of Lam Research

Several hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP raised its stake in Lam Research by 98.5% during the 4th quarter. Wellington Management Group LLP now owns 39,781 shares of the semiconductor company’s stock worth $31,159,000 after acquiring an additional 19,742 shares during the period. RFG Advisory LLC increased its stake in Lam Research by 34.6% in the 1st quarter. RFG Advisory LLC now owns 615 shares of the semiconductor company’s stock worth $597,000 after buying an additional 158 shares in the last quarter. Dynamic Advisor Solutions LLC raised its holdings in Lam Research by 8.9% during the first quarter. Dynamic Advisor Solutions LLC now owns 2,277 shares of the semiconductor company’s stock valued at $2,212,000 after acquiring an additional 187 shares during the period. Sound Income Strategies LLC lifted its position in shares of Lam Research by 484.2% in the first quarter. Sound Income Strategies LLC now owns 111 shares of the semiconductor company’s stock valued at $108,000 after acquiring an additional 92 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC grew its position in shares of Lam Research by 5.7% during the first quarter. Kingswood Wealth Advisors LLC now owns 756 shares of the semiconductor company’s stock worth $735,000 after purchasing an additional 41 shares in the last quarter. Institutional investors 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.