Christina Correia Sells 647 Shares of Lam Research Co. (NASDAQ:LRCX) Stock

Lam Research Co. (NASDAQ:LRCX) 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 sale, the chief accounting officer now directly owns 4,267 shares in the company, valued at $3,488,315.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Lam Research Price Performance

LRCX opened at $81.11 on Friday. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. The business’s fifty day simple moving average is $95.45 and its 200-day simple moving average is $96.80. The company has a market capitalization of $10.60 billion, a price-to-earnings ratio of 2.98, a PEG ratio of 1.51 and a beta of 1.48. Lam Research Co. has a 12-month low of $57.44 and a 12-month high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.05. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter last year, the firm posted $0.60 EPS. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, equities research analysts anticipate that Lam Research Co. will post 35.2 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.92 dividend on an annualized basis and a yield of 1.13%. Lam Research’s dividend payout ratio is currently 33.84%.

Institutional Trading of Lam Research

Several hedge funds and other institutional investors have recently bought and sold shares of LRCX. Symmetry Investments LP bought a new stake in Lam Research during the second quarter valued at about $3,229,000. 3Chopt Investment Partners LLC purchased a new stake in shares of Lam Research during the second quarter valued at about $1,105,000. Cypress Capital Group boosted its holdings in shares of Lam Research by 23.1% in the 2nd quarter. Cypress Capital Group now owns 3,528 shares of the semiconductor company’s stock valued at $3,757,000 after buying an additional 661 shares in the last quarter. Brown Financial Advisors purchased a new position in shares of Lam Research in the 2nd quarter worth approximately $1,489,000. Finally, Albar Capital Ltd bought a new position in shares of Lam Research during the 2nd quarter worth approximately $3,123,000. Institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on LRCX. B. Riley lifted their price objective on shares of Lam Research from $113.00 to $132.50 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Wells Fargo & Company dropped their price target on shares of Lam Research from $1,000.00 to $880.00 and set an “equal weight” rating for the company in a research note on Thursday. Citigroup reduced their price objective on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research report on Monday, September 16th. StockNews.com upgraded Lam Research from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Raymond James increased their price target on Lam Research from $95.00 to $106.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and a consensus price target of $141.28.

Lam Research Company Profile

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.