Lam Research (NASDAQ:LRCX) Trading 1.4% Higher After Dividend Announcement

Lam Research Co. (NASDAQ:LRCX)’s stock price traded up 1.4% on Thursday after the company announced a dividend. The stock traded as high as $78.23 and last traded at $77.82. 1,780,287 shares were traded during mid-day trading, a decline of 84% from the average session 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. Investors of record on Wednesday, December 11th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.18%. Lam Research’s dividend payout ratio is presently 29.74%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. Mizuho decreased their price objective on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Cantor Fitzgerald reissued a “neutral” rating and issued a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. Finally, BNP Paribas upgraded shares of Lam Research to a “hold” rating in a research report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $97.03.

Lam Research Stock Down 1.3 %

The stock has a market cap of $100.62 billion, a price-to-earnings ratio of 25.27, a price-to-earnings-growth ratio of 1.22 and a beta of 1.48. The firm’s 50-day moving average is $77.67 and its 200 day moving average is $88.52. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74.

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

Insider Transactions at Lam Research

In other news, CAO Christina Correia sold 647 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the sale, the chief accounting officer now owns 4,267 shares in the company, valued at approximately $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Lam Research

Large investors have recently added to or reduced their stakes in the company. Fortitude Family Office LLC raised its holdings in Lam Research by 16.7% in the second quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock valued at $67,000 after acquiring an additional 9 shares in the last quarter. Thomasville National Bank raised its holdings in shares of Lam Research by 1.5% in the 2nd quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock worth $865,000 after purchasing an additional 12 shares in the last quarter. Ignite Planners LLC raised its holdings in Lam Research by 2.8% during the 2nd quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock worth $484,000 after buying an additional 12 shares during the period. U.S. Capital Wealth Advisors LLC grew its position in Lam Research by 3.7% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock worth $357,000 after purchasing an additional 12 shares in the last quarter. Finally, RFP Financial Group LLC raised its position in Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 12 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

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.