Investors Sell Lam Research (LRCX) on Strength (LRCX)

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Investors sold shares of Lam Research Co. (NASDAQ:LRCX) on strength during trading on Friday. $193.28 million flowed into the stock on the tick-up and $428.95 million flowed out of the stock on the tick-down, for a money net flow of $235.67 million out of the stock. Of all stocks tracked, Lam Research had the 0th highest net out-flow for the day. Lam Research traded up $5.86 for the day and closed at $182.39

A number of equities research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Lam Research from a “hold” rating to a “sell” rating in a research note on Friday, January 11th. Citigroup restated a “buy” rating and set a $215.00 price objective (up from $177.00) on shares of Lam Research in a research note on Friday. ValuEngine cut shares of Lam Research from a “hold” rating to a “sell” rating in a research note on Friday, January 4th. Needham & Company LLC restated a “buy” rating and set a $180.00 price objective on shares of Lam Research in a research note on Thursday, January 24th. Finally, Morgan Stanley cut shares of Lam Research from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 22nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $212.72.

The company has a current ratio of 3.39, a quick ratio of 2.61 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $27.83 billion, a P/E ratio of 10.21, a PEG ratio of 1.03 and a beta of 1.52.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 23rd. The semiconductor company reported $3.87 EPS for the quarter, topping the consensus estimate of $3.67 by $0.20. Lam Research had a net margin of 26.69% and a return on equity of 48.08%. The firm had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the previous year, the business earned $4.34 earnings per share. Lam Research’s revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, sell-side analysts expect that Lam Research Co. will post 13.89 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 10th. Shareholders of record on Wednesday, March 20th will be given a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Tuesday, March 19th. Lam Research’s dividend payout ratio (DPR) is presently 24.62%.

Lam Research announced that its Board of Directors has approved a stock repurchase program on Wednesday, January 23rd that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 23% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

In other Lam Research news, SVP Kevin Jennings sold 7,016 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $177.35, for a total value of $1,244,287.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Christine Heckart sold 2,050 shares of the business’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $172.98, for a total transaction of $354,609.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,311 shares of company stock worth $2,179,378. 0.44% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of LRCX. We Are One Seven LLC purchased a new position in Lam Research in the 4th quarter worth about $26,000. Berman Capital Advisors LLC purchased a new position in Lam Research in the 4th quarter worth about $26,000. Duncker Streett & Co. Inc. increased its stake in Lam Research by 100.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 200 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 100 shares in the last quarter. FTB Advisors Inc. increased its stake in Lam Research by 72.0% in the 4th quarter. FTB Advisors Inc. now owns 215 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 90 shares in the last quarter. Finally, Csenge Advisory Group purchased a new position in Lam Research in the 3rd quarter worth about $35,000. Hedge funds and other institutional investors own 88.11% of the company’s stock.

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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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