Lam Research (NASDAQ:LRCX) Trading 2.5% Higher – Here’s What Happened

by · The Markets Daily

Lam Research Co. (NASDAQ:LRCX – Get Free Report)’s stock price was up 2.5% during mid-day trading on Tuesday . The stock traded as high as $76.79 and last traded at $75.99. Approximately 2,083,493 shares were traded during trading, a decline of 81% from the average daily volume of 11,234,760 shares. The stock had previously closed at $74.17.

Analysts Set New Price Targets

Several brokerages recently issued reports on LRCX. Wells Fargo & Company decreased their price target on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Stifel Nicolaus reiterated a “buy” rating and issued a $100.00 target price (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. StockNews.com cut Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Finally, Morgan Stanley decreased their price objective on Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and a consensus target price of $97.03.

Check Out Our Latest Stock Analysis on Lam Research

Lam Research Stock Up 3.2 %

The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The stock has a market cap of $101.92 billion, a PE ratio of 25.60, a PEG ratio of 1.18 and a beta of 1.48. The company has a 50 day moving average price of $77.73 and a two-hundred day moving average price of $88.66.

Lam Research (NASDAQ:LRCX – Get Free Report) last posted its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The company had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. Lam Research’s revenue was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.85 earnings per share. Analysts expect that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.16%. Lam Research’s dividend payout ratio is 29.74%.

Insiders Place Their Bets

In related news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the transaction, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.29% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lam Research

A number of hedge funds have recently bought and sold shares of LRCX. Strengthening Families & Communities LLC boosted its stake in Lam Research by 9.3% during the third quarter. Strengthening Families & Communities LLC now owns 1,871 shares of the semiconductor company’s stock worth $1,527,000 after buying an additional 159 shares during the period. Glass Wealth Management Co LLC boosted its stake in shares of Lam Research by 9.2% during the 3rd quarter. Glass Wealth Management Co LLC now owns 2,485 shares of the semiconductor company’s stock worth $2,028,000 after purchasing an additional 210 shares during the period. Westfuller Advisors LLC bought a new position in Lam Research during the 3rd quarter valued at about $764,000. Claro Advisors LLC raised its position in Lam Research by 151.0% in the 3rd quarter. Claro Advisors LLC now owns 527 shares of the semiconductor company’s stock worth $430,000 after purchasing an additional 317 shares during the period. Finally, Seizert Capital Partners LLC lifted its stake in Lam Research by 42.0% in the third quarter. Seizert Capital Partners LLC now owns 9,647 shares of the semiconductor company’s stock worth $7,873,000 after purchasing an additional 2,852 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Company Profile

(Get Free Report)

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.

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