Lam Research Co. (NASDAQ:LRCX) CAO Sells $687,282.22 in Stock – MarketBeat
Lam Research Co. (NASDAQ:LRCX – Get Free Report) CAO Christina Correia sold 647 shares of the stock in a transaction dated 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 completion of the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of NASDAQ:LRCX traded up $12.19 during trading on Tuesday, reaching $1,072.82. The stock had a trading volume of 550,405 shares, compared to its average volume of 1,017,238. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.84 and a current ratio of 2.82. Lam Research Co. has a 1-year low of $574.42 and a 1-year high of $1,101.81. The stock has a market cap of $140.26 billion, a PE ratio of 39.33, a PEG ratio of 3.68 and a beta of 1.48. The business has a fifty day moving average price of $968.06 and a 200-day moving average price of $910.04.
Shares of Lam Research are going to split before the market opens on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly created shares will be payable to shareholders after the closing bell on Wednesday, October 2nd.
Lam Research (NASDAQ:LRCX – Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the previous year, the company posted $6.99 earnings per share. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, equities analysts forecast that Lam Research Co. will post 29.67 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Tuesday, June 18th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $8.00 annualized dividend and a yield of 0.75%. Lam Research’s payout ratio is 29.42%.
Lam Research declared that its Board of Directors has approved a stock buyback plan on Tuesday, May 21st that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 8.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.
A number of brokerages recently issued reports on LRCX. Stifel Nicolaus raised their target price on Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Thursday, June 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,030.00 price target on shares of Lam Research in a report on Thursday, April 25th. Barclays upped their target price on Lam Research from $865.00 to $900.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 5th. Finally, Mizuho lifted their price target on Lam Research from $935.00 to $960.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $981.29.
Check Out Our Latest Research Report on LRCX
A number of hedge funds have recently modified their holdings of LRCX. Massmutual Trust Co. FSB ADV lifted its position in Lam Research by 11.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 408 shares of the semiconductor company’s stock valued at $434,000 after buying an additional 41 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Lam Research by 88.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,840 shares of the semiconductor company’s stock worth $1,959,000 after acquiring an additional 864 shares during the last quarter. Transcend Capital Advisors LLC lifted its holdings in shares of Lam Research by 3.5% in the 2nd quarter. Transcend Capital Advisors LLC now owns 919 shares of the semiconductor company’s stock worth $979,000 after acquiring an additional 31 shares during the last quarter. Bright Futures Wealth Management LLC. purchased a new position in shares of Lam Research during the 1st quarter worth approximately $203,000. Finally, Keynote Financial Services LLC purchased a new stake in Lam Research in the first quarter valued at approximately $329,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.
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.
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