Lam Research (NASDAQ:LRCX) Shares Down 4.4% – What’s Next?

Lam Research Co. (NASDAQ:LRCX) shares traded down 4.4% during mid-day trading on Friday . The company traded as low as $71.20 and last traded at $71.49. 3,238,948 shares traded hands during trading, a decline of 71% from the average session volume of 11,211,154 shares. The stock had previously closed at $74.79.

Analyst Upgrades and Downgrades

LRCX has been the topic of several research reports. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of Lam Research in a research report on Thursday, October 24th. BNP Paribas raised Lam Research to a “hold” rating in a research report on Thursday, October 24th. TD Cowen upped their price objective on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus reiterated a “buy” rating and set a $100.00 price objective (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Finally, Morgan Stanley reduced their target price on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Lam Research has an average rating of “Moderate Buy” and an average price target of $97.03.

Lam Research Price Performance

The company has a 50 day simple moving average of $77.23 and a 200 day simple moving average of $87.99. The company has a market capitalization of $90.13 billion, a price-to-earnings ratio of 22.67, a price-to-earnings-growth ratio of 1.17 and a beta of 1.48. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.85 EPS. As a group, research analysts predict that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be issued a dividend of $0.23 per share. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.31%. Lam Research’s payout ratio is 29.77%.

Insider Buying and Selling at Lam Research

In other news, CAO Christina Correia sold 647 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the sale, the chief accounting officer now owns 4,267 shares in the company, valued at approximately $3,488,315.17. This trade represents a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lam Research

Institutional investors and hedge funds have recently bought and sold shares of the stock. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Lam Research during the second quarter worth $32,000. RFP Financial Group LLC boosted its position in Lam Research by 52.2% in the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 12 shares during the last quarter. Hobbs Group Advisors LLC purchased a new stake in shares of Lam Research during the second quarter worth about $40,000. Country Trust Bank acquired a new position in shares of Lam Research in the second quarter worth about $43,000. Finally, MFA Wealth Advisors LLC purchased a new position in Lam Research in the second quarter valued at about $45,000. Hedge funds and other institutional investors 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.