Insider Selling: Lam Research Co. (NASDAQ:LRCX) CAO Sells $687,282.22 in Stock

Lam Research Co. (NASDAQ:LRCX) CAO Christina Correia sold 647 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the completion of the sale, the chief accounting officer now directly owns 4,914 shares of the company’s stock, valued at approximately $5,219,945.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Lam Research Stock Performance

Lam Research stock opened at $1,082.74 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84. Lam Research Co. has a 12 month low of $574.42 and a 12 month high of $1,101.81. The company has a fifty day moving average price of $975.72 and a two-hundred day moving average price of $913.34. The company has a market cap of $141.56 billion, a PE ratio of 39.82, a P/E/G ratio of 3.11 and a beta of 1.48.

Lam Research shares are set to split on the morning of Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be distributed to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, beating the consensus estimate of $7.26 by $0.53. The business had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.72 billion. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $6.99 EPS. Research analysts expect that Lam Research Co. will post 29.67 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Tuesday, June 18th will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 0.74%. The ex-dividend date is Tuesday, June 18th. Lam Research’s dividend payout ratio (DPR) is 29.42%.

Lam Research declared that its board has initiated a share buyback plan on Tuesday, May 21st that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to reacquire up to 8.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several analysts recently issued reports on LRCX shares. TD Cowen increased their price target on Lam Research from $975.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. increased their target price on Lam Research from $900.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research report on Thursday, June 13th. Jefferies Financial Group started coverage on shares of Lam Research in a research report on Monday, May 13th. They issued a “buy” rating and a $1,100.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Lam Research in a research report on Thursday, April 11th. They set a “hold” rating and a $1,000.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $981.29.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Orion Capital Management LLC bought a new position in shares of Lam Research during the third quarter worth about $25,000. DSM Capital Partners LLC acquired a new position in Lam Research during the 4th quarter valued at about $28,000. Valued Wealth Advisors LLC bought a new position in Lam Research in the 4th quarter worth about $30,000. Partnership Wealth Management LLC acquired a new stake in shares of Lam Research in the fourth quarter valued at approximately $33,000. Finally, Rakuten Securities Inc. bought a new stake in shares of Lam Research during the fourth quarter valued at approximately $38,000. 84.61% of the stock is currently owned by institutional investors.

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.