Lam Research (NASDAQ:LRCX) Share Price Crosses Above Two Hundred Day Moving Average of $902.19

Lam Research Co. (NASDAQ:LRCX)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $902.19 and traded as high as $1,084.76. Lam Research shares last traded at $1,055.83, with a volume of 882,483 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on LRCX shares. UBS Group lifted their price target on shares of Lam Research from $1,130.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Mizuho boosted their target price on Lam Research from $935.00 to $960.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft initiated coverage on Lam Research in a research report on Thursday, April 11th. They set a “hold” rating and a $1,000.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on Lam Research from $900.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Finally, B. Riley raised their target price on shares of Lam Research from $1,130.00 to $1,325.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and an average target price of $981.29.

Lam Research Stock Performance

The stock has a market capitalization of $138.04 billion, a P/E ratio of 38.83, a PEG ratio of 3.63 and a beta of 1.46. The company’s fifty day simple moving average is $956.98 and its two-hundred day simple moving average is $902.19. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.84 and a current ratio of 2.82.

Lam Research’s stock is set to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly created shares will be issued to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The company had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the previous year, the business posted $6.99 earnings per share. Lam Research’s quarterly revenue was down 2.0% on a year-over-year basis. As a group, equities analysts forecast that Lam Research Co. will post 29.67 EPS for the current year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Tuesday, June 18th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Tuesday, June 18th. Lam Research’s dividend payout ratio (DPR) is currently 29.42%.

Lam Research announced that its board has authorized a share repurchase plan on Tuesday, May 21st that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to repurchase up to 8.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Lam Research

In other news, insider George M. Schisler sold 400 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $908.21, for a total value of $363,284.00. Following the completion of the transaction, the insider now directly owns 5,661 shares in the company, valued at approximately $5,141,376.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Lam Research news, insider George M. Schisler sold 400 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $908.21, for a total transaction of $363,284.00. Following the completion of the transaction, the insider now owns 5,661 shares of the company’s stock, valued at $5,141,376.81. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $857,330.46. Following the completion of the transaction, the director now directly owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,989 shares of company stock valued at $1,904,810. 0.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lam Research

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Lam Research by 1.2% in the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after purchasing an additional 144,914 shares during the period. Fisher Asset Management LLC boosted its holdings in Lam Research by 3.0% in the fourth quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock valued at $2,329,037,000 after acquiring an additional 86,721 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Lam Research by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock valued at $2,875,023,000 after purchasing an additional 142,903 shares during the period. Morgan Stanley raised its holdings in Lam Research by 3.2% during the 3rd quarter. Morgan Stanley now owns 1,857,918 shares of the semiconductor company’s stock worth $1,164,490,000 after purchasing an additional 56,824 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Lam Research in the 4th quarter valued at $1,414,111,000. 84.61% of the stock is currently owned by institutional investors.

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.