Lam Research (NASDAQ:LRCX) Shares Up 3.8%

Lam Research Co. (NASDAQ:LRCX)’s stock price rose 3.8% during trading on Monday . The stock traded as high as $930.57 and last traded at $928.91. Approximately 182,308 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 1,018,029 shares. The stock had previously closed at $894.64.

Analyst Ratings Changes

LRCX has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on Lam Research from $900.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Wells Fargo & Company lifted their target price on Lam Research from $980.00 to $1,100.00 and gave the stock an “equal weight” rating in a research report on Monday, June 17th. Cantor Fitzgerald lifted their target price on Lam Research from $1,100.00 to $1,200.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Evercore ISI began coverage on Lam Research in a research report on Tuesday, April 16th. They set an “outperform” rating and a $1,200.00 target price on the stock. Finally, Raymond James boosted their price objective on Lam Research from $950.00 to $1,060.00 and gave the company an “outperform” rating in a report on Friday, June 7th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,007.85.

Lam Research Price Performance

The stock has a market capitalization of $117.93 billion, a price-to-earnings ratio of 32.90, a P/E/G ratio of 2.58 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. The business has a 50-day simple moving average of $1,010.61 and a two-hundred day simple moving average of $944.08.

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

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Tuesday, June 18th were given a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, June 18th. This represents a $8.00 dividend on an annualized basis and a yield of 0.89%. Lam Research’s dividend payout ratio (DPR) is 29.42%.

Lam Research announced that its board has authorized a share repurchase program on Tuesday, May 21st that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to purchase up to 8.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Lam Research news, SVP Neil J. Fernandes sold 1,620 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $1,056.99, for a total value of $1,712,323.80. Following the transaction, the senior vice president now owns 5,237 shares of the company’s stock, valued at $5,535,456.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Lam Research news, SVP Neil J. Fernandes sold 1,620 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $1,056.99, for a total value of $1,712,323.80. Following the transaction, the senior vice president now owns 5,237 shares of the company’s stock, valued at $5,535,456.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Neil J. Fernandes sold 4,409 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the sale, the senior vice president now directly owns 6,857 shares in the company, valued at $7,239,346.32. The disclosure for this sale can be found here. Insiders sold 16,726 shares of company stock worth $17,746,999 over the last ninety days. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Lam Research

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Lam Research by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after acquiring an additional 144,914 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Lam Research by 3.0% during the 4th quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock valued at $2,329,037,000 after acquiring an additional 86,721 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Lam Research by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock valued at $2,875,023,000 after acquiring an additional 142,903 shares in the last quarter. Norges Bank bought a new stake in Lam Research in the fourth quarter worth $1,414,111,000. Finally, Van ECK Associates Corp boosted its holdings in Lam Research by 24.6% in the first quarter. Van ECK Associates Corp now owns 968,115 shares of the semiconductor company’s stock worth $940,592,000 after purchasing an additional 191,230 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

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.