Lam Research (LRCX) Set to Announce Earnings on Wednesday

Lam Research (NASDAQ:LRCX) is scheduled to be releasing its earnings data after the market closes on Wednesday, July 31st. Analysts expect Lam Research to post earnings of $7.52 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Lam Research Trading Down 0.3 %

LRCX opened at $892.34 on Tuesday. Lam Research has a 12-month low of $574.42 and a 12-month high of $1,130.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84. The stock has a market capitalization of $116.66 billion, a PE ratio of 32.82, a P/E/G ratio of 2.58 and a beta of 1.48. The firm’s fifty day moving average price is $1,009.62 and its 200 day moving average price is $945.01.

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

Lam Research declared that its Board of Directors has initiated a stock buyback program on Tuesday, May 21st that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to repurchase up to 8.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Tuesday, June 18th were given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Tuesday, June 18th. Lam Research’s dividend payout ratio is presently 29.42%.

Insiders Place Their Bets

In other Lam Research news, insider George M. Schisler sold 400 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $908.21, for a total value of $363,284.00. Following the completion of the sale, the insider now directly owns 5,661 shares of the company’s stock, valued at $5,141,376.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $1,062.26, for a total value of $687,282.22. Following the transaction, the chief accounting officer now owns 4,914 shares of the company’s stock, valued at $5,219,945.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider George M. Schisler sold 400 shares of Lam Research stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $908.21, for a total transaction of $363,284.00. Following the completion of the transaction, the insider now owns 5,661 shares in the company, valued at approximately $5,141,376.81. The disclosure for this sale can be found here. Insiders have sold a total of 16,726 shares of company stock valued at $17,746,999 in the last three months. Insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

LRCX has been the subject of a number of analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $1,030.00 price target on shares of Lam Research in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft began coverage on shares of Lam Research in a report on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 price target for the company. Raymond James lifted their price objective on shares of Lam Research from $950.00 to $1,060.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Barclays lifted their price target on shares of Lam Research from $865.00 to $900.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 5th. Finally, Wells Fargo & Company increased their price objective on Lam Research from $980.00 to $1,100.00 and gave the company an “equal weight” rating in a research report on Monday, June 17th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,007.85.

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.