Lam Research (NASDAQ:LRCX) Stock Price Up 1.4% Following Dividend Announcement

Lam Research Co. (NASDAQ:LRCX)’s stock price rose 1.4% during mid-day trading on Thursday after the company announced a dividend. The stock traded as high as $78.23 and last traded at $77.82. Approximately 1,780,287 shares changed hands during trading, a decline of 84% from the average daily volume of 11,236,671 shares. The stock had previously closed at $76.78.

The newly announced dividend which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.16%. Lam Research’s payout ratio is currently 29.74%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Stifel Nicolaus restated a “buy” rating and issued a $100.00 price objective (down from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Citigroup dropped their price objective on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research note on Monday, September 16th. Wells Fargo & Company decreased their target price on Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Finally, B. Riley dropped their price target on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $97.03.

Lam Research Trading Up 3.2 %

The company has a 50-day moving average of $77.73 and a 200 day moving average of $88.66. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The company has a market cap of $101.92 billion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 1.18 and a beta of 1.48.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The company had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same period last year, the company earned $6.85 earnings per share. Lam Research’s revenue was up 19.7% on a year-over-year basis. Analysts predict that Lam Research Co. will post 3.52 earnings per share for the current year.

Insider Activity at Lam Research

In related news, CAO Christina Correia sold 647 shares of the firm’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 transaction of $528,928.97. Following the completion of the sale, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in LRCX. Csenge Advisory Group grew its stake in Lam Research by 7.4% in the first quarter. Csenge Advisory Group now owns 306 shares of the semiconductor company’s stock valued at $297,000 after purchasing an additional 21 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of Lam Research by 4.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,495 shares of the semiconductor company’s stock worth $17,969,000 after acquiring an additional 748 shares in the last quarter. Nelson Capital Management LLC acquired a new stake in Lam Research in the first quarter valued at approximately $437,000. Hansen & Associates Financial Group Inc. acquired a new position in shares of Lam Research during the first quarter worth $300,000. Finally, Sustainable Insight Capital Management LLC acquired a new stake in shares of Lam Research in the 1st quarter worth $9,600,000. 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.