Lam Research (NASDAQ:LRCX) Stock Price Up 0.7% – What’s Next?

Lam Research Co. (NASDAQ:LRCX)’s share price traded up 0.7% during trading on Friday . The stock traded as high as $74.23 and last traded at $73.66. 4,476,030 shares were traded during trading, a decline of 60% from the average session volume of 11,081,264 shares. The stock had previously closed at $73.14.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Mizuho decreased their price objective on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $113.00 price objective on shares of Lam Research in a research report on Thursday, August 1st. B. Riley boosted their price target on Lam Research from $113.00 to $132.50 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Citigroup dropped their price objective on Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research note on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $141.28.

Lam Research Stock Down 0.7 %

The company has a market cap of $9.50 billion, a P/E ratio of 2.70, a PEG ratio of 1.75 and a beta of 1.47. The stock has a 50-day moving average of $80.29 and a 200 day moving average of $90.66. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.05. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The business had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.82 billion. During the same period last year, the firm posted $0.60 earnings per share. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. Research analysts anticipate that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.92 annualized dividend and a dividend yield of 1.27%. Lam Research’s dividend payout ratio (DPR) is presently 3.38%.

Insider Activity at Lam Research

In other news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lam Research

Institutional investors have recently made changes to their positions in the stock. Symmetry Investments LP acquired a new position in Lam Research during the 2nd quarter valued at about $3,229,000. Benson Investment Management Company Inc. bought a new position in Lam Research in the 3rd quarter valued at $5,182,000. Brown Financial Advisors purchased a new stake in shares of Lam Research during the 2nd quarter valued at $1,489,000. Wedmont Private Capital raised its stake in shares of Lam Research by 893.3% during the 3rd quarter. Wedmont Private Capital now owns 14,522 shares of the semiconductor company’s stock worth $11,851,000 after purchasing an additional 13,060 shares during the period. Finally, Vontobel Holding Ltd. boosted its holdings in shares of Lam Research by 38.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 120,736 shares of the semiconductor company’s stock worth $98,530,000 after buying an additional 33,489 shares during 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.