Several other equities research analysts have also recently weighed in on the company. Goldman Sachs Group cut Lam Research from a buy rating to a neutral rating in a report on Monday, July 22nd. Needham & Company LLC increased their target price on Lam Research from $220.00 to $250.00 and gave the company a buy rating in a report on Friday. Credit Suisse Group restated a positive rating on shares of Lam Research in a report on Monday, July 8th. They noted that the move was a valuation call. Cfra set a $210.00 target price on Lam Research and gave the company a hold rating in a report on Saturday, August 31st. Finally, KeyCorp increased their target price on Lam Research from $236.00 to $252.00 and gave the company an overweight rating in a report on Thursday, August 1st. Eleven analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Lam Research presently has an average rating of Buy and an average target price of $221.88.
LRCX stock traded up $0.69 during trading on Friday, hitting $235.56. 1,295,812 shares of the company traded hands, compared to its average volume of 1,535,410. The firm has a market capitalization of $33.95 billion, a PE ratio of 16.14, a P/E/G ratio of 1.44 and a beta of 1.62. Lam Research has a 1 year low of $122.64 and a 1 year high of $237.90. The company has a 50-day moving average of $209.00 and a 200-day moving average of $192.53. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.96 and a current ratio of 3.61.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Tuesday, October 1st will be issued a $1.15 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $4.60 annualized dividend and a yield of 1.95%. This is a boost from Lam Research’s previous quarterly dividend of $1.10. Lam Research’s dividend payout ratio (DPR) is 30.24%.
In other news, Director Abhijit Y. Talwalkar sold 3,987 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $210.00, for a total value of $837,270.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Sarah A. O’dowd sold 22,140 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $233.77, for a total value of $5,175,667.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,997 shares of company stock valued at $14,854,855. Company insiders own 0.44% of the company’s stock.
Several large investors have recently made changes to their positions in LRCX. Lcnb Corp increased its position in Lam Research by 2.2% during the 2nd quarter. Lcnb Corp now owns 2,306 shares of the semiconductor company’s stock valued at $433,000 after buying an additional 50 shares in the last quarter. Cypress Capital LLC increased its holdings in shares of Lam Research by 1.4% in the 2nd quarter. Cypress Capital LLC now owns 4,126 shares of the semiconductor company’s stock worth $775,000 after purchasing an additional 56 shares in the last quarter. Confluence Wealth Management LLC increased its holdings in shares of Lam Research by 2.0% in the 2nd quarter. Confluence Wealth Management LLC now owns 2,906 shares of the semiconductor company’s stock worth $546,000 after purchasing an additional 56 shares in the last quarter. ETF Managers Group LLC increased its holdings in shares of Lam Research by 9.0% in the 1st quarter. ETF Managers Group LLC now owns 713 shares of the semiconductor company’s stock worth $128,000 after purchasing an additional 59 shares in the last quarter. Finally, Synovus Financial Corp increased its holdings in shares of Lam Research by 10.7% in the 1st quarter. Synovus Financial Corp now owns 654 shares of the semiconductor company’s stock worth $117,000 after purchasing an additional 63 shares in the last quarter. 88.65% of the stock is owned by hedge funds and other institutional investors.
Lam Research Company Profile
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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