Lam Research Co. (NASDAQ:LRCX) SVP Sells $1,145,400.00 in Stock

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Lam Research Co. (NASDAQ:LRCX) SVP Sarah A. O’dowd sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $229.08, for a total value of $1,145,400.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Shares of LRCX stock opened at $234.01 on Thursday. Lam Research Co. has a twelve month low of $122.64 and a twelve month high of $234.75. The company has a current ratio of 3.61, a quick ratio of 2.96 and a debt-to-equity ratio of 0.81. The stock has a fifty day simple moving average of $208.59 and a two-hundred day simple moving average of $192.24. The stock has a market capitalization of $33.29 billion, a price-to-earnings ratio of 16.08, a P/E/G ratio of 1.41 and a beta of 1.62.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $3.62 EPS for the quarter, beating the consensus estimate of $3.40 by $0.22. The firm had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.37 billion. Lam Research had a return on equity of 43.72% and a net margin of 22.70%. The business’s revenue for the quarter was down 24.5% on a year-over-year basis. During the same quarter last year, the firm posted $5.31 earnings per share. Research analysts predict that Lam Research Co. will post 13.6 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Tuesday, October 1st will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 1.97%. This is a boost from Lam Research’s previous quarterly dividend of $1.10. The ex-dividend date is Monday, September 30th. Lam Research’s dividend payout ratio is presently 30.24%.

A number of hedge funds and other institutional investors have recently bought and sold shares of LRCX. Global Retirement Partners LLC raised its stake in Lam Research by 119.4% in the first quarter. Global Retirement Partners LLC now owns 147 shares of the semiconductor company’s stock worth $26,000 after buying an additional 80 shares in the last quarter. Zions Bancorporation N.A. purchased a new stake in Lam Research during the first quarter worth $28,000. Hexavest Inc. bought a new stake in Lam Research during the 2nd quarter valued at $28,000. Strategy Asset Managers LLC bought a new stake in Lam Research during the 1st quarter valued at $33,000. Finally, MUFG Americas Holdings Corp increased its holdings in shares of Lam Research by 75.0% in the 2nd quarter. MUFG Americas Holdings Corp now owns 175 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 75 shares during the period. 88.65% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have recently weighed in on the company. Wells Fargo & Co increased their price target on Lam Research from $195.00 to $200.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st. KeyCorp boosted their price objective on Lam Research from $236.00 to $252.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Goldman Sachs Group downgraded Lam Research from a “buy” rating to a “neutral” rating in a research report on Monday, July 22nd. ValuEngine lowered Lam Research from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Credit Suisse Group reiterated a “positive” rating on shares of Lam Research in a research report on Monday, July 8th. They noted that the move was a valuation call. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $220.00.

About Lam Research

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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