Lam Research (NASDAQ:LRCX) Stock Price Up 2.8% – Here’s Why

Lam Research Co. (NASDAQ:LRCX)’s stock price rose 2.8% on Friday . The company traded as high as $79.60 and last traded at $78.75. Approximately 5,494,580 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 11,243,637 shares. The stock had previously closed at $76.57.

Wall Street Analyst Weigh In

LRCX has been the subject of a number of research reports. TD Cowen upped their price objective on shares of Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Citigroup decreased their price target on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research report on Monday, September 16th. Cantor Fitzgerald reissued a “neutral” rating and set a $100.00 price target on shares of Lam Research in a research report on Thursday. UBS Group decreased their price target on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Finally, Mizuho decreased their price target on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $97.03.

Lam Research Trading Up 3.0 %

The company’s fifty day moving average is $79.60 and its two-hundred day moving average is $89.94. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. The company has a market cap of $102.25 billion, a price-to-earnings ratio of 27.30, a P/E/G ratio of 1.89 and a beta of 1.47.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The business’s revenue was up 19.7% on a year-over-year basis. During the same quarter last year, the company earned $6.85 EPS. On average, research analysts anticipate that Lam Research Co. will post 3.23 EPS for the current year.

Lam Research Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were paid 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 dividend yield of 1.17%. Lam Research’s payout ratio is 31.72%.

Insider Buying and Selling at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer now owns 4,267 shares in the company, valued at approximately $3,488,315.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.29% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Lam Research in the 2nd quarter worth $32,000. RFP Financial Group LLC increased its stake in shares of Lam Research by 52.2% in the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 12 shares during the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of Lam Research in the 2nd quarter worth $40,000. Country Trust Bank acquired a new stake in shares of Lam Research in the 2nd quarter worth $43,000. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of Lam Research in the 2nd quarter worth $45,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

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.