Lam Research Co. (LRCX) To Go Ex-Dividend on March 5th

Lam Research Co. (NASDAQ:LRCX) announced a quarterly dividend on Wednesday, February 5th, RTT News reports. Stockholders of record on Wednesday, March 5th will be paid a dividend of 0.23 per share by the semiconductor company on Wednesday, April 9th. This represents a $0.92 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend is Wednesday, March 5th.

Lam Research has raised its dividend by an average of 15.4% annually over the last three years. Lam Research has a dividend payout ratio of 23.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Lam Research to earn $3.76 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 24.5%.

Lam Research Stock Performance

Shares of LRCX opened at $76.70 on Monday. The stock has a market capitalization of $98.45 billion, a P/E ratio of 23.30, a P/E/G ratio of 1.47 and a beta of 1.46. Lam Research has a 1 year low of $68.87 and a 1 year high of $113.00. The company’s fifty day moving average is $78.94 and its two-hundred day moving average is $78.02. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. On average, sell-side analysts predict that Lam Research will post 3.71 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the sale, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.29% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on LRCX shares. Mizuho boosted their target price on shares of Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. The Goldman Sachs Group lowered their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target on the stock in a report on Friday, January 17th. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $85.00 to $91.00 in a research note on Thursday, January 30th. Finally, Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and raised their price target for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $98.22.

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.