Lam Research (LRCX) Trading 5.2% Higher

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Lam Research Co. (NASDAQ:LRCX)’s share price traded up 5.2% during mid-day trading on Wednesday . The company traded as high as $144.67 and last traded at $144.00. 3,295,373 shares were traded during trading, an increase of 48% from the average session volume of 2,231,029 shares. The stock had previously closed at $136.93.

Several equities research analysts have weighed in on LRCX shares. Mizuho cut Lam Research from a “buy” rating to a “neutral” rating in a report on Monday, October 1st. Deutsche Bank reiterated a “hold” rating and issued a $170.00 target price (down from $230.00) on shares of Lam Research in a report on Monday, October 1st. UBS Group cut Lam Research from a “positive” rating to a “neutral” rating in a report on Tuesday, October 23rd. ValuEngine cut Lam Research from a “hold” rating to a “sell” rating in a report on Friday, January 4th. Finally, B. Riley cut Lam Research from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $225.00 to $160.00 in a report on Monday, October 29th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $220.47.

The stock has a market cap of $22.35 billion, a PE ratio of 8.09, a PEG ratio of 0.84 and a beta of 1.38. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.66 and a quick ratio of 2.00.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Tuesday, October 16th. The semiconductor company reported $3.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.22 by $0.14. Lam Research had a return on equity of 49.80% and a net margin of 21.26%. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period in the prior year, the company posted $3.46 EPS. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. On average, research analysts predict that Lam Research Co. will post 14.37 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 26th. Investors of record on Wednesday, December 5th were given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 3.04%. The ex-dividend date was Tuesday, December 4th. Lam Research’s dividend payout ratio is currently 24.62%.

A number of large investors have recently made changes to their positions in the stock. Csenge Advisory Group acquired a new position in shares of Lam Research in the third quarter valued at about $35,000. IMS Capital Management acquired a new position in shares of Lam Research in the third quarter valued at about $38,000. Ruggie Capital Group acquired a new position in shares of Lam Research in the second quarter valued at about $134,000. Qube Research & Technologies Ltd increased its holdings in shares of Lam Research by 160.5% in the second quarter. Qube Research & Technologies Ltd now owns 1,076 shares of the semiconductor company’s stock valued at $186,000 after purchasing an additional 663 shares during the period. Finally, Ffcm LLC increased its holdings in shares of Lam Research by 27,337.0% in the third quarter. Ffcm LLC now owns 7,408 shares of the semiconductor company’s stock valued at $190,000 after purchasing an additional 7,381 shares during the period. 88.89% of the stock is currently owned by institutional investors.

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About Lam Research (NASDAQ:LRCX)

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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