Lam Research Co. (NASDAQ:LRCX) CEO Timothy Archer Sells 9,650 Shares of Stock

Lam Research Co. (NASDAQ:LRCX) CEO Timothy Archer sold 9,650 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $1,070.39, for a total value of $10,329,263.50. Following the transaction, the chief executive officer now owns 84,639 shares in the company, valued at approximately $90,596,739.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Lam Research Stock Performance

Shares of LRCX stock opened at $1,072.82 on Wednesday. The business has a fifty day moving average of $968.06 and a 200 day moving average of $910.04. Lam Research Co. has a 1 year low of $574.42 and a 1 year high of $1,101.81. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84. The firm has a market capitalization of $140.26 billion, a price-to-earnings ratio of 39.33, a price-to-earnings-growth ratio of 3.68 and a beta of 1.48.

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

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

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Tuesday, June 18th will be paid a $2.00 dividend. The ex-dividend date is Tuesday, June 18th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.75%. Lam Research’s payout ratio is currently 29.42%.

Lam Research announced that its board has approved a stock repurchase plan on Tuesday, May 21st that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 8.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Lam Research

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LRCX. Arlington Trust Co LLC grew its holdings in Lam Research by 7.7% during the fourth quarter. Arlington Trust Co LLC now owns 182 shares of the semiconductor company’s stock worth $143,000 after acquiring an additional 13 shares during the period. Capital Performance Advisors LLP grew its stake in shares of Lam Research by 2.2% during the 4th quarter. Capital Performance Advisors LLP now owns 613 shares of the semiconductor company’s stock worth $480,000 after purchasing an additional 13 shares during the period. Van Leeuwen & Company LLC lifted its stake in shares of Lam Research by 0.5% in the 4th quarter. Van Leeuwen & Company LLC now owns 2,583 shares of the semiconductor company’s stock valued at $2,023,000 after purchasing an additional 13 shares during the period. Busey Bank boosted its holdings in Lam Research by 1.5% during the first quarter. Busey Bank now owns 869 shares of the semiconductor company’s stock worth $844,000 after buying an additional 13 shares in the last quarter. Finally, First Affirmative Financial Network grew its position in Lam Research by 2.5% during the first quarter. First Affirmative Financial Network now owns 525 shares of the semiconductor company’s stock valued at $510,000 after buying an additional 13 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wells Fargo & Company boosted their price target on shares of Lam Research from $980.00 to $1,100.00 and gave the company an “equal weight” rating in a report on Monday, June 17th. Citigroup upped their target price on Lam Research from $975.00 to $1,025.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Raymond James lifted their price target on Lam Research from $950.00 to $1,060.00 and gave the company an “outperform” rating in a report on Friday, June 7th. Evercore ISI began coverage on Lam Research in a research note on Tuesday, April 16th. They set an “outperform” rating and a $1,200.00 price objective for the company. Finally, Barclays boosted their target price on shares of Lam Research from $865.00 to $900.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 5th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Lam Research has an average rating of “Moderate Buy” and a consensus target price of $981.29.

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.