Lam Research (LRCX) Trading Down 5.5%

Lam Research Co. (NASDAQ:LRCX) shares were down 5.5% during trading on Thursday . The company traded as low as $162.21 and last traded at $162.23. Approximately 4,928,788 shares were traded during mid-day trading, an increase of 26% from the average daily volume of 3,924,447 shares. The stock had previously closed at $171.63.

A number of research analysts have recently commented on LRCX shares. BidaskClub cut shares of Lam Research from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Vetr cut shares of Lam Research from a “buy” rating to a “hold” rating and set a $196.77 price target on the stock. in a report on Monday, October 16th. Susquehanna Bancshares upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and upped their price target for the stock from $200.00 to $250.00 in a report on Tuesday, January 16th. Zacks Investment Research upgraded shares of Lam Research from a “hold” rating to a “buy” rating and set a $234.00 price target on the stock in a report on Tuesday, January 23rd. Finally, DA Davidson restated a “buy” rating and issued a $235.00 price target on shares of Lam Research in a report on Monday, January 22nd. Two analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $232.41.

The company has a debt-to-equity ratio of 0.29, a current ratio of 2.47 and a quick ratio of 2.09. The company has a market cap of $26,270.00, a price-to-earnings ratio of 17.87, a PEG ratio of 0.72 and a beta of 1.47.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 24th. The semiconductor company reported $4.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.68 by $0.66. The company had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.57 billion. Lam Research had a net margin of 17.60% and a return on equity of 36.08%. The firm’s quarterly revenue was up 37.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.24 EPS. equities analysts expect that Lam Research Co. will post 16.74 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 7th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.23%. Lam Research’s payout ratio is 22.03%.

Lam Research announced that its board has approved a stock buyback plan on Tuesday, November 14th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the semiconductor company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

In other Lam Research news, Director Michael R. Cannon sold 9,000 shares of the stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $212.43, for a total transaction of $1,911,870.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Seshasayee Varadarajan sold 25,453 shares of the stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $215.00, for a total transaction of $5,472,395.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,722 shares of company stock valued at $12,088,028. Insiders own 0.41% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in LRCX. Krilogy Financial LLC raised its position in shares of Lam Research by 91.6% in the 3rd quarter. Krilogy Financial LLC now owns 550 shares of the semiconductor company’s stock valued at $102,000 after purchasing an additional 263 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Lam Research by 144.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 664 shares of the semiconductor company’s stock valued at $122,000 after purchasing an additional 392 shares during the last quarter. Bollard Group LLC purchased a new position in shares of Lam Research in the 3rd quarter valued at approximately $130,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Lam Research in the 3rd quarter valued at approximately $134,000. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in shares of Lam Research in the 3rd quarter valued at approximately $185,000. 92.92% of the stock is owned by institutional investors and hedge funds.

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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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