Traders Sell Lam Research (LRCX) on Strength (LRCX)

Traders sold shares of Lam Research Co. (NASDAQ:LRCX) on strength during trading on Thursday. $102.71 million flowed into the stock on the tick-up and $193.92 million flowed out of the stock on the tick-down, for a money net flow of $91.21 million out of the stock. Of all equities tracked, Lam Research had the 4th highest net out-flow for the day. Lam Research traded up $0.79 for the day and closed at $182.10

Several equities research analysts have weighed in on LRCX shares. Needham & Company LLC reissued a “buy” rating and set a $220.00 price objective (up from $200.00) on shares of Lam Research in a research note on Friday, October 13th. KeyCorp reissued a “buy” rating and set a $225.00 price objective on shares of Lam Research in a research note on Sunday, November 19th. BidaskClub cut Lam Research from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 2nd. B. Riley reissued a “buy” rating and set a $250.00 price objective on shares of Lam Research in a research note on Tuesday, November 14th. Finally, Berenberg Bank reissued a “buy” rating and set a $240.00 price objective on shares of Lam Research in a research note on Thursday, October 19th. Four investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $212.99.

The company has a market cap of $29,404.57, a PE ratio of 15.64, a PEG ratio of 0.83 and a beta of 1.57. The company has a current ratio of 3.31, a quick ratio of 2.83 and a debt-to-equity ratio of 0.24.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.27 by $0.19. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.46 billion. Lam Research had a return on equity of 30.19% and a net margin of 22.85%. The company’s revenue for the quarter was up 51.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.81 earnings per share. sell-side analysts predict that Lam Research Co. will post 14.74 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Wednesday, December 6th will be issued a $0.50 dividend. This is a positive change from Lam Research’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.10%. Lam Research’s payout ratio is presently 18.28%.

Lam Research announced that its Board of Directors has initiated a share repurchase plan on Tuesday, November 14th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the semiconductor company to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

In related news, COO Timothy Archer sold 15,638 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $175.65, for a total value of $2,746,814.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Martin B. Anstice sold 21,955 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $211.16, for a total value of $4,636,017.80. The disclosure for this sale can be found here. Insiders sold 62,247 shares of company stock valued at $12,162,864 in the last quarter. 0.41% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Signature Estate & Investment Advisors LLC lifted its holdings in Lam Research by 15.2% during the third quarter. Signature Estate & Investment Advisors LLC now owns 3,986 shares of the semiconductor company’s stock worth $738,000 after buying an additional 527 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Lam Research by 5.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 560,705 shares of the semiconductor company’s stock worth $79,301,000 after buying an additional 28,662 shares during the period. Putnam FL Investment Management Co. purchased a new stake in Lam Research during the third quarter worth $15,390,000. Pacad Investment Ltd. lifted its holdings in Lam Research by 252.5% during the second quarter. Pacad Investment Ltd. now owns 36,369 shares of the semiconductor company’s stock worth $5,144,000 after buying an additional 26,052 shares during the period. Finally, Epoch Investment Partners Inc. lifted its holdings in Lam Research by 0.9% during the third quarter. Epoch Investment Partners Inc. now owns 64,708 shares of the semiconductor company’s stock worth $11,974,000 after buying an additional 600 shares during the period. Hedge funds and other institutional investors own 93.80% of the company’s stock.

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Lam Research Company Profile

Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.

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