Lam Research (NASDAQ:LRCX) Shares Down 0.9% – Time to Sell?

Lam Research Co. (NASDAQ:LRCX) dropped 0.9% during mid-day trading on Monday . The company traded as low as $76.70 and last traded at $76.97. Approximately 1,971,078 shares were traded during trading, a decline of 82% from the average daily volume of 11,246,845 shares. The stock had previously closed at $77.68.

Analysts Set New Price Targets

Several equities research analysts have recently commented on LRCX shares. B. Riley decreased their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Cantor Fitzgerald reissued a “neutral” rating and set a $100.00 price objective on shares of Lam Research in a report on Thursday. Deutsche Bank Aktiengesellschaft dropped their target price on Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Mizuho decreased their price target on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 price objective (down from $105.00) on shares of Lam Research in a report on Thursday. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and an average price target of $97.03.

Lam Research Price Performance

The firm has a 50 day moving average price of $79.21 and a two-hundred day moving average price of $89.66. The company has a market cap of $9.84 billion, a P/E ratio of 2.83, a P/E/G ratio of 1.89 and a beta of 1.47. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same period in the prior year, the company posted $6.85 EPS. Lam Research’s revenue was up 19.7% compared to the same quarter last year. On average, analysts predict that Lam Research Co. will post 3.23 EPS for the current fiscal year.

Lam Research Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Tuesday, September 17th. Lam Research’s dividend payout ratio is presently 3.38%.

Insider Transactions at Lam Research

In related news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.32% of the company’s stock.

Institutional Trading of Lam Research

Large investors have recently modified their holdings of the business. CarsonAllaria Wealth Management Ltd. bought a new stake in Lam Research during the second quarter valued at approximately $32,000. RFP Financial Group LLC grew its position in Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 12 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in Lam Research in the second quarter valued at $40,000. Country Trust Bank purchased a new stake in Lam Research during the second quarter valued at about $43,000. Finally, MFA Wealth Advisors LLC bought a new stake in Lam Research during the second quarter worth about $45,000. Institutional investors own 84.61% of the company’s stock.

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.