Lam Research (NASDAQ:LRCX) Stock Price Down 2% – MarketBeat
Lam Research Co. (NASDAQ:LRCX – Get Free Report) shares dropped 2% on Thursday . The stock traded as low as $1,103.09 and last traded at $1,104.95. Approximately 50,749 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 995,001 shares. The stock had previously closed at $1,127.30.
A number of equities research analysts have recently issued reports on LRCX shares. Evercore ISI assumed coverage on shares of Lam Research in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $1,200.00 price objective for the company. JPMorgan Chase & Co. lifted their price target 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. TD Cowen boosted their target price on Lam Research from $975.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Susquehanna dropped their target price on Lam Research from $880.00 to $850.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Finally, Stifel Nicolaus increased their target price on Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $981.29.
View Our Latest Analysis on LRCX
The firm has a market capitalization of $138.58 billion, a P/E ratio of 38.98, a PEG ratio of 3.20 and a beta of 1.48. The firm’s 50 day moving average is $995.60 and its two-hundred day moving average is $924.87. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84.
Lam Research shares are scheduled 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 payable 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.26 by $0.53. The company had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.72 billion. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. Lam Research’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the business earned $6.99 EPS. Research analysts predict that Lam Research Co. will post 29.67 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Tuesday, June 18th were given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date was Tuesday, June 18th. Lam Research’s payout ratio is presently 29.42%.
Lam Research announced that its board has initiated a stock buyback program on Tuesday, May 21st that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase up to 8.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.
In related news, SVP Neil J. Fernandes sold 4,409 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total value of $4,654,845.84. Following the sale, 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 filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Neil J. Fernandes sold 4,409 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the transaction, the senior vice president now directly owns 6,857 shares in the company, valued at $7,239,346.32. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider George M. Schisler sold 400 shares of the firm’s 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 transaction, the insider now owns 5,661 shares of the company’s stock, valued at $5,141,376.81. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,166 shares of company stock valued at $16,089,968. Insiders own 0.32% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LRCX. Townsquare Capital LLC increased its stake in shares of Lam Research by 44.7% during the 3rd quarter. Townsquare Capital LLC now owns 1,706 shares of the semiconductor company’s stock worth $1,070,000 after purchasing an additional 527 shares during the last quarter. Graham Capital Management L.P. acquired a new position in Lam Research in the third quarter valued at about $689,000. Wellington Management Group LLP raised its stake in shares of Lam Research by 378.1% in the 3rd quarter. Wellington Management Group LLP now owns 20,039 shares of the semiconductor company’s stock valued at $12,560,000 after purchasing an additional 15,848 shares during the period. Sunbelt Securities Inc. grew its stake in Lam Research by 2.5% in the third quarter. Sunbelt Securities Inc. now owns 1,722 shares of the semiconductor company’s stock valued at $1,079,000 after purchasing an additional 42 shares in the last quarter. Finally, Headinvest LLC bought a new position in Lam Research during the third quarter worth about $51,000. Institutional investors and hedge funds own 84.61% of the company’s stock.
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.
Featured Articles
- Five stocks we like better than Lam Research
- Learn Technical Analysis Skills to Master the Stock Market
- Sales Breakout Sends This Semiconductor Stock to Record High
- What is a Dividend Harvesting Strategy and How Can Investors Profit from it?
- Surprise Buying Opportunity on This Dividend Aristocrat
- Investing in Commodities: What Are They? How to Invest in Them
- New Theme Park Powerhouse: Merger Creates Industry-Leading Stock
Should you invest $1,000 in Lam Research right now?
Before you consider Lam Research, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Lam Research wasn’t on the list.
While Lam Research currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Sign up for MarketBeat All Access to gain access to MarketBeat’s full suite of research tools.
Featured By
345 N Reid Place, Suite 620, Sioux Falls, SD 57103
[email protected]
(844) 978-6257
© MarketBeat Media, LLC® 2010-2024. All rights reserved.
© 2024 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart’s disclaimer.
My Account –
