Lam Research Co. Announces Quarterly Dividend of $0.23 (NASDAQ:LRCX)

Lam Research Co. (NASDAQ:LRCX) announced a quarterly dividend on Thursday, November 7th,RTT News reports. Investors of record on Wednesday, December 11th will be paid a dividend of 0.23 per share by the semiconductor company on Wednesday, January 8th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.16%.

Lam Research has increased its dividend payment by an average of 15.0% per year over the last three years. Lam Research has a payout ratio of 25.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Lam Research to earn $4.11 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 22.4%.

Lam Research Stock Performance

Shares of LRCX opened at $79.21 on Friday. The stock’s 50-day simple moving average is $77.73 and its 200 day simple moving average is $88.66. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. Lam Research has a 52-week low of $64.11 and a 52-week high of $113.00. The stock has a market capitalization of $101.92 billion, a price-to-earnings ratio of 25.60, a price-to-earnings-growth ratio of 1.18 and a beta of 1.48.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The company had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same quarter last year, the company earned $6.85 earnings per share. The firm’s quarterly revenue was up 19.7% on a year-over-year basis. Research analysts forecast that Lam Research will post 3.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LRCX has been the subject of several research analyst reports. Cantor Fitzgerald reiterated a “neutral” rating and set a $100.00 target price on shares of Lam Research in a research report on Thursday, October 24th. Wells Fargo & Company dropped their price objective on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Citigroup reduced their target price on Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research note on Monday, September 16th. BNP Paribas raised Lam Research to a “hold” rating in a research note on Thursday, October 24th. Finally, StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and an average price target of $97.03.

Insider Activity at Lam Research

In related news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is currently owned by company insiders.

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.