Lam Research Co. (NASDAQ:LRCX) SVP Sells $4,654,845.84 in Stock – MarketBeat
Lam Research Co. (NASDAQ:LRCX – Get Free Report) SVP Neil J. Fernandes sold 4,409 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the completion of the transaction, the senior vice president now owns 6,857 shares of the company’s stock, valued at $7,239,346.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Lam Research stock traded down $4.22 during mid-day trading on Monday, hitting $1,060.63. The company had a trading volume of 614,203 shares, compared to its average volume of 1,020,970. The company has a current ratio of 2.82, a quick ratio of 1.84 and a debt-to-equity ratio of 0.56. Lam Research Co. has a 12-month low of $574.42 and a 12-month high of $1,101.81. The company’s fifty day moving average is $964.21 and its 200-day moving average is $907.97. The company has a market capitalization of $138.67 billion, a price-to-earnings ratio of 39.01, a P/E/G ratio of 3.68 and a beta of 1.48.
Shares of Lam Research are set to split before the market opens on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be distributed to shareholders after the market closes on Wednesday, October 2nd.
Lam Research (NASDAQ:LRCX – Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, beating the consensus estimate of $7.26 by $0.53. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The firm had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the prior year, the company earned $6.99 EPS. The firm’s revenue was down 2.0% compared to the same quarter last year. Equities research analysts predict that Lam Research Co. will post 29.67 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Investors 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 dividend payout ratio (DPR) is currently 29.42%.
Lam Research announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 21st that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to purchase up to 8.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
Several institutional investors and hedge funds have recently bought and sold shares of LRCX. DSM Capital Partners LLC acquired a new position in Lam Research in the 4th quarter valued at about $28,000. Valued Wealth Advisors LLC acquired a new position in Lam Research in the 4th quarter valued at about $30,000. Orion Capital Management LLC acquired a new position in shares of Lam Research during the third quarter worth about $25,000. Partnership Wealth Management LLC acquired a new position in shares of Lam Research during the fourth quarter worth about $33,000. Finally, Ulland Investment Advisors LLC acquired a new position in shares of Lam Research during the first quarter worth about $42,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have commented on the stock. Barclays boosted their target price on shares of Lam Research from $865.00 to $900.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft began coverage on shares of Lam Research in a report on Thursday, April 11th. They set a “hold” rating and a $1,000.00 price objective on the stock. Wells Fargo & Company upped their price objective on shares of Lam Research from $980.00 to $1,100.00 and gave the company an “equal weight” rating in a report on Monday, June 17th. Citigroup upped their price objective on shares of Lam Research from $975.00 to $1,025.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Lam Research from $900.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and an average target price of $981.29.
View Our Latest Stock Analysis on 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.
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