Lam Research (NASDAQ:LRCX) Stock Price Up 2.8% – What’s Next?

Lam Research Co. (NASDAQ:LRCX) shares rose 2.8% during mid-day trading on Friday . The stock 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 Analysts Forecast Growth

Several equities analysts have recently commented on LRCX shares. Needham & Company LLC restated a “buy” rating and issued a $100.00 price objective on shares of Lam Research in a report on Thursday. B. Riley dropped their price target on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday. Stifel Nicolaus reiterated a “buy” rating and set a $100.00 target price (down previously from $105.00) on shares of Lam Research in a research report on Thursday. Mizuho reduced 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. Finally, StockNews.com cut Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.03.

Lam Research Stock Up 1.4 %

The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. The firm’s fifty day simple moving average is $79.21 and its 200-day simple moving average is $89.76. The company has a market cap of $100.68 billion, a PE ratio of 26.79, a P/E/G ratio of 1.89 and a beta of 1.47.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 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 $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same period in the prior year, the firm earned $6.85 EPS. The firm’s quarterly revenue was up 19.7% on a year-over-year basis. As a group, equities research analysts expect that Lam Research Co. will post 3.23 earnings per share for the current fiscal 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 issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend was Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is 31.72%.

Insider Buying and Selling

In other Lam Research news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction dated 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 in the company, valued at $3,488,315.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.29% of the stock is currently owned by company insiders.

Institutional Trading of Lam Research

Large investors have recently bought and sold shares of the company. CarsonAllaria Wealth Management Ltd. purchased a new stake in Lam Research during the 2nd quarter worth approximately $32,000. RFP Financial Group LLC lifted its holdings 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 purchasing an additional 12 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Lam Research during the second quarter valued at $40,000. Country Trust Bank bought a new position in Lam Research in the 2nd quarter worth about $43,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Lam Research during the second quarter valued at $45,000. Institutional investors and hedge funds 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.