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 dated Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Lam Research Stock Performance

LRCX opened at $81.11 on Friday. The firm has a fifty day moving average price of $95.45 and a 200 day moving average price of $96.80. Lam Research Co. has a 1 year low of $57.44 and a 1 year high of $113.00. The stock has a market cap of $10.60 billion, a P/E ratio of 2.98, a P/E/G ratio of 1.51 and a beta of 1.48. 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 issued its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the prior year, the firm posted $0.60 earnings per share. The company’s revenue was up 20.7% compared to the same quarter last year. Equities research analysts anticipate that Lam Research Co. will post 35.2 earnings per share for the current year.

Lam Research Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.92 dividend on an annualized basis and a yield of 1.13%. Lam Research’s dividend payout ratio is currently 33.84%.

Institutional Trading of Lam Research

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Apella Capital LLC grew its stake in Lam Research by 938.9% in the 3rd quarter. Apella Capital LLC now owns 3,283 shares of the semiconductor company’s stock valued at $2,679,000 after acquiring an additional 2,967 shares during the period. Czech National Bank grew its position in shares of Lam Research by 6.6% in the third quarter. Czech National Bank now owns 26,559 shares of the semiconductor company’s stock valued at $21,674,000 after purchasing an additional 1,645 shares during the period. Trust Co. of Toledo NA OH increased its stake in shares of Lam Research by 2.4% during the third quarter. Trust Co. of Toledo NA OH now owns 2,074 shares of the semiconductor company’s stock worth $1,693,000 after purchasing an additional 49 shares in the last quarter. American National Bank & Trust raised its position in shares of Lam Research by 34.0% during the 3rd quarter. American National Bank & Trust now owns 288 shares of the semiconductor company’s stock worth $235,000 after purchasing an additional 73 shares during the last quarter. Finally, Mattson Financial Services LLC purchased a new position in Lam Research in the 2nd quarter valued at about $2,365,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on LRCX. StockNews.com raised shares of Lam Research from a “hold” rating to a “buy” rating in a research report on Thursday. Needham & Company LLC reiterated a “buy” rating and set a $113.00 price objective on shares of Lam Research in a research note on Thursday, August 1st. Citigroup cut their target price on Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research report on Monday, September 16th. TD Cowen lifted their price target on Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $141.28.

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.