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

Lam Research Co. (NASDAQ:LRCX) 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 sale, the chief accounting officer now owns 4,267 shares in the company, valued at approximately $3,488,315.17. The transaction was disclosed in a filing with the SEC, which is available at this link.

Lam Research Trading Up 3.6 %

Lam Research stock traded up $28.94 during mid-day trading on Wednesday, hitting $826.32. The company’s stock had a trading volume of 368,634 shares, compared to its average volume of 1,103,942. Lam Research Co. has a 1 year low of $574.42 and a 1 year high of $1,130.00. The stock’s fifty day moving average is $811.37 and its two-hundred day moving average is $918.60. The firm has a market capitalization of $108.03 billion, a PE ratio of 29.33, a price-to-earnings-growth ratio of 1.51 and a beta of 1.48. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52.

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 minted shares will be issued to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share (EPS) 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 company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same period in the prior year, the firm earned $0.60 earnings per share. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, analysts anticipate that Lam Research Co. will post 35.2 EPS 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 paid a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.92 annualized dividend and a dividend yield of 0.11%. Lam Research’s dividend payout ratio (DPR) is 33.84%.

Hedge Funds Weigh In On Lam Research

A number of institutional investors and hedge funds have recently made changes to their positions in LRCX. Fortitude Family Office LLC grew its position in Lam Research by 16.7% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock valued at $67,000 after buying an additional 9 shares during the last quarter. Thomasville National Bank lifted its holdings in Lam Research by 1.5% in the 2nd quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock valued at $865,000 after purchasing an additional 12 shares in the last quarter. Ignite Planners LLC increased its stake in Lam Research by 2.8% in the second quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock valued at $484,000 after purchasing an additional 12 shares during the last quarter. U.S. Capital Wealth Advisors LLC boosted its position in shares of Lam Research by 3.7% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock worth $357,000 after acquiring an additional 12 shares during the last quarter. Finally, RFP Financial Group LLC boosted its holdings in Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 12 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LRCX has been the topic of several analyst reports. Mizuho dropped their price target on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Deutsche Bank Aktiengesellschaft cut their price target on Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. B. Riley raised their price objective on Lam Research from $113.00 to $132.50 and gave the company a “buy” rating in a report on Thursday, June 20th. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Finally, Raymond James boosted their price target on shares of Lam Research from $95.00 to $106.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and a consensus price target of $100.23.

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.