Lam Research (NASDAQ:LRCX) Shares Down 0.8% – Here’s Why

Lam Research Co. (NASDAQ:LRCX) shares dropped 0.8% during trading on Friday . The stock traded as low as $78.32 and last traded at $78.61. Approximately 1,221,039 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 11,235,416 shares. The stock had previously closed at $79.21.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LRCX. Citigroup lowered 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 note on Monday, September 16th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. TD Cowen upped their price objective on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Mizuho reduced their target price on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and an average target price of $97.03.

Lam Research Price Performance

The company has a market cap of $100.62 billion, a price-to-earnings ratio of 25.48, a price-to-earnings-growth ratio of 1.18 and a beta of 1.48. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The company has a fifty day moving average price of $77.73 and a two-hundred day moving average price of $88.66.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the previous year, the company earned $6.85 earnings per share. The business’s revenue was up 19.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.18%. Lam Research’s payout ratio is presently 29.77%.

Insider Buying and Selling at Lam Research

In related news, CAO Christina Correia sold 647 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LRCX. Csenge Advisory Group lifted its holdings in Lam Research by 7.4% during the 1st quarter. Csenge Advisory Group now owns 306 shares of the semiconductor company’s stock worth $297,000 after buying an additional 21 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in Lam Research by 4.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,495 shares of the semiconductor company’s stock valued at $17,969,000 after purchasing an additional 748 shares during the period. Nelson Capital Management LLC acquired a new stake in shares of Lam Research during the 1st quarter worth approximately $437,000. Hansen & Associates Financial Group Inc. bought a new position in Lam Research in the first quarter valued at approximately $300,000. Finally, Sustainable Insight Capital Management LLC bought a new stake in shares of Lam Research during the 1st quarter valued at $9,600,000. 84.61% of the stock is 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.