Lam Research Co. (NASDAQ:LRCX) EVP Patrick J. Lord Sells 60 Shares

Lam Research Co. (NASDAQ:LRCX) EVP Patrick J. Lord sold 60 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $921.54, for a total transaction of $55,292.40. Following the completion of the sale, the executive vice president now directly owns 4,454 shares of the company’s stock, valued at $4,104,539.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $894.41 on Wednesday. The company has a market cap of $117.26 billion, a P/E ratio of 32.89, a P/E/G ratio of 2.88 and a beta of 1.51. The business has a fifty day simple moving average of $943.60 and a 200-day simple moving average of $815.20. Lam Research Co. has a 52 week low of $507.19 and a 52 week high of $1,007.39. The company has a quick ratio of 1.84, a current ratio of 2.82 and a debt-to-equity ratio of 0.56.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, beating the consensus estimate of $7.26 by $0.53. The company had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The firm’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.99 EPS. Equities research analysts forecast that Lam Research Co. will post 29.54 EPS for the current year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.89%. The ex-dividend date was Tuesday, March 12th. Lam Research’s dividend payout ratio (DPR) is 29.42%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LRCX. The Goldman Sachs Group lifted their price objective on shares of Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Barclays lifted their price objective on Lam Research from $825.00 to $865.00 and gave the company an “equal weight” rating in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft assumed coverage on Lam Research in a research note on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 price target on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $1,100.00 price target on shares of Lam Research in a research note on Thursday, April 25th. Finally, Raymond James boosted their price target on Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $950.85.

Hedge Funds Weigh In On Lam Research

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Lam Research by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 11,711,747 shares of the semiconductor company’s stock worth $9,173,343,000 after buying an additional 79,581 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Lam Research by 3.0% in the 4th quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock worth $2,329,037,000 after purchasing an additional 86,721 shares during the period. Morgan Stanley raised its holdings in shares of Lam Research by 3.2% in the 3rd quarter. Morgan Stanley now owns 1,857,918 shares of the semiconductor company’s stock worth $1,164,490,000 after purchasing an additional 56,824 shares during the period. Norges Bank acquired a new position in shares of Lam Research in the 4th quarter valued at about $1,414,111,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Lam Research by 10.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,642,367 shares of the semiconductor company’s stock worth $1,029,386,000 after purchasing an additional 159,815 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

About Lam Research

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.