Christina Correia Sells 647 Shares of Lam Research Co. (NASDAQ:LRCX) Stock

Lam Research Co. (NASDAQ:LRCX) CAO Christina Correia sold 647 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the transaction, the chief accounting officer now directly owns 4,914 shares in the company, valued at $5,219,945.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Lam Research Stock Up 0.9 %

Shares of LRCX opened at $1,082.74 on Friday. The stock has a market cap of $141.56 billion, a price-to-earnings ratio of 39.82, a P/E/G ratio of 3.11 and a beta of 1.48. The company has a quick ratio of 1.84, a current ratio of 2.82 and a debt-to-equity ratio of 0.56. Lam Research Co. has a 12 month low of $574.42 and a 12 month high of $1,101.81. The company has a 50-day moving average price of $975.72 and a two-hundred day moving average price of $913.34.

Lam Research shares are scheduled to split on the morning of Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly issued shares will be distributed to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53. The firm had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The company’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. Equities analysts predict that Lam Research Co. will post 29.67 EPS for the current fiscal year.

Lam Research declared that its Board of Directors has approved a share repurchase program on Tuesday, May 21st that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to buy up to 8.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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 dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Tuesday, June 18th. Lam Research’s dividend payout ratio is 29.42%.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LRCX. 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 target on the stock. Barclays raised their price target on Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 5th. Mizuho raised their price target on Lam Research from $935.00 to $960.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Evercore ISI began coverage on Lam Research in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $1,200.00 price target on the stock. Finally, TD Cowen raised their price target on Lam Research from $975.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $981.29.

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.