Lam Research (NASDAQ:LRCX) Hits New 1-Year High at $1,105.86 – MarketBeat
Lam Research Co. (NASDAQ:LRCX – Get Free Report)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $1,105.86 and last traded at $1,103.59, with a volume of 164759 shares traded. The stock had previously closed at $1,087.80.
Several equities research analysts have recently commented on LRCX shares. Wells Fargo & Company lifted their target price on Lam Research from $980.00 to $1,100.00 and gave the company an “equal weight” rating in a research note on Monday, June 17th. Citigroup boosted their price objective on Lam Research from $975.00 to $1,025.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Stifel Nicolaus raised their target price on shares of Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. UBS Group lifted their price target on shares of Lam Research from $1,130.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, Barclays increased their price objective on shares of Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a report on Wednesday, June 5th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $981.29.
View Our Latest Stock Analysis on LRCX
The company has a current ratio of 2.82, a quick ratio of 1.84 and a debt-to-equity ratio of 0.56. The company has a fifty day moving average price of $986.05 and a two-hundred day moving average price of $921.10. The firm has a market cap of $144.02 billion, a P/E ratio of 40.52, a PEG ratio of 3.16 and a beta of 1.48.
Shares of Lam Research are going to split on the morning of Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be issued to shareholders after the closing bell on Wednesday, October 2nd.
Lam Research (NASDAQ:LRCX – Get Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53. The company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.72 billion. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $6.99 earnings per share. Equities analysts anticipate that Lam Research Co. will post 29.67 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Tuesday, June 18th will be paid a dividend of $2.00 per share. The ex-dividend date is Tuesday, June 18th. This represents a $8.00 annualized dividend and a dividend yield of 0.73%. Lam Research’s dividend payout ratio is currently 29.42%.
Lam Research announced that its Board of Directors has approved a share buyback program on Tuesday, May 21st that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to reacquire up to 8.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
In related news, insider George M. Schisler sold 400 shares of Lam Research stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $908.21, for a total value of $363,284.00. Following the sale, the insider now owns 5,661 shares of the company’s stock, valued at $5,141,376.81. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Lam Research news, EVP Patrick J. Lord sold 60 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $921.54, for a total value of $55,292.40. Following the completion of the sale, the executive vice president now owns 4,454 shares in the company, valued at $4,104,539.16. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider George M. Schisler sold 400 shares of Lam Research stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $908.21, for a total transaction of $363,284.00. Following the completion of the transaction, the insider now directly owns 5,661 shares of the company’s stock, valued at approximately $5,141,376.81. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,166 shares of company stock worth $16,089,968. 0.32% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Checchi Capital Advisers LLC boosted its stake in shares of Lam Research by 1.0% during the 4th quarter. Checchi Capital Advisers LLC now owns 1,781 shares of the semiconductor company’s stock worth $1,395,000 after acquiring an additional 18 shares during the period. Citizens Financial Group Inc. RI lifted its holdings in Lam Research by 20.9% during the 4th quarter. Citizens Financial Group Inc. RI now owns 491 shares of the semiconductor company’s stock valued at $384,000 after purchasing an additional 85 shares during the last quarter. Everence Capital Management Inc. boosted its position in Lam Research by 54.7% during the fourth quarter. Everence Capital Management Inc. now owns 4,073 shares of the semiconductor company’s stock worth $3,190,000 after purchasing an additional 1,440 shares during the period. Gradient Investments LLC increased its holdings in shares of Lam Research by 32,411.1% in the fourth quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock valued at $11,459,000 after purchasing an additional 14,585 shares during the last quarter. Finally, Contravisory Investment Management Inc. bought a new position in shares of Lam Research in the fourth quarter valued at about $7,930,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.
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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