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

Lam Research Co. (NASDAQ:LRCX) CAO Christina Correia sold 647 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the transaction, the chief accounting officer now directly owns 4,914 shares of the company’s stock, valued at approximately $5,219,945.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Lam Research Price Performance

Lam Research stock opened at $1,082.74 on Thursday. The stock has a market cap of $141.56 billion, a P/E ratio of 39.82, a price-to-earnings-growth ratio of 3.68 and a beta of 1.48. The company has a fifty day simple moving average of $971.77 and a 200-day simple moving average of $912.14. The company has a current ratio of 2.82, a quick ratio of 1.84 and a debt-to-equity ratio of 0.56. Lam Research Co. has a 12-month low of $574.42 and a 12-month high of $1,101.81.

Lam Research shares are going to split on the morning of Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be distributed to shareholders after the closing bell on Wednesday, October 2nd.

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

Lam Research declared that its board has approved a share buyback plan on Tuesday, May 21st that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to purchase up to 8.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Tuesday, June 18th will be given a dividend of $2.00 per share. The ex-dividend date is Tuesday, June 18th. This represents a $8.00 annualized dividend and a dividend yield of 0.74%. Lam Research’s dividend payout ratio is presently 29.42%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Thursday, June 13th. Barclays raised their price target on Lam Research from $865.00 to $900.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 5th. Susquehanna cut their price objective on Lam Research from $880.00 to $850.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Mizuho raised their target price on Lam Research from $935.00 to $960.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $1,100.00 price target on shares of Lam Research in a research note on Thursday, April 25th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and an average target price of $981.29.

Institutional Investors Weigh In On Lam Research

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

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.