Lam Research Co. (NASDAQ:LRCX) CAO Christina Corrreia Sells 647 Shares

Lam Research Co. (NASDAQ:LRCXGet Free Report) CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the sale, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Lam Research Price Performance

LRCX stock opened at $978.37 on Thursday. The company’s 50-day moving average price is $919.82 and its two-hundred day moving average price is $772.45. The firm has a market cap of $128.26 billion, a P/E ratio of 37.83, a P/E/G ratio of 3.49 and a beta of 1.51. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61. Lam Research Co. has a 12 month low of $480.45 and a 12 month high of $1,007.39.

Lam Research (NASDAQ:LRCXGet Free Report) last issued its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, beating analysts’ consensus estimates of $7.06 by $0.46. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The firm had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter last year, the business posted $10.71 EPS. The company’s revenue was down 28.8% compared to the same quarter last year. On average, analysts anticipate that Lam Research Co. will post 28.88 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s payout ratio is 30.94%.

Institutional Investors Weigh In On Lam Research

A number of hedge funds have recently made changes to their positions in the stock. Moneta Group Investment Advisors LLC boosted its position in Lam Research by 117,180.9% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 32,822,222 shares of the semiconductor company’s stock valued at $13,795,180,000 after buying an additional 32,794,236 shares in the last quarter. Vanguard Group Inc. grew its position in Lam Research by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 11,711,747 shares of the semiconductor company’s stock worth $9,173,343,000 after acquiring an additional 79,581 shares during the last quarter. State Street Corp raised its position in Lam Research by 1.7% in the first quarter. State Street Corp now owns 5,697,200 shares of the semiconductor company’s stock valued at $3,029,550,000 after purchasing an additional 92,606 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Lam Research by 3.0% during the fourth quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock valued at $2,329,037,000 after purchasing an additional 86,721 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Lam Research by 0.8% during the first quarter. Geode Capital Management LLC now owns 2,542,805 shares of the semiconductor company’s stock worth $1,345,403,000 after purchasing an additional 19,280 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on LRCX shares. UBS Group raised their price objective on Lam Research from $885.00 to $1,130.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Raymond James increased their price objective on shares of Lam Research from $850.00 to $950.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Morgan Stanley downgraded shares of Lam Research from an “overweight” rating to an “equal weight” rating and set a $720.00 target price for the company. in a report on Friday, December 8th. TD Cowen upped their price target on shares of Lam Research from $710.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Lam Research from a “buy” rating to a “hold” rating and raised their price objective for the stock from $680.00 to $725.00 in a research report on Tuesday, December 12th. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $826.68.

Check Out Our Latest Stock Analysis on Lam Research

About Lam Research

(Get Free Report)

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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