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

Investors sold shares of Lam Research Co. (NASDAQ:LRCX) on strength during trading on Friday. $61.65 million flowed into the stock on the tick-up and $107.57 million flowed out of the stock on the tick-down, for a money net flow of $45.92 million out of the stock. Of all equities tracked, Lam Research had the 31st highest net out-flow for the day. Lam Research traded up $1.05 for the day and closed at $186.69

Several analysts recently commented on the stock. Nomura raised shares of Lam Research from a “neutral” rating to a “buy” rating and increased their target price for the company from $103.01 to $215.00 in a research note on Thursday, December 7th. Instinet raised shares of Lam Research from a “neutral” rating to a “buy” rating in a research note on Thursday, December 7th. BidaskClub lowered shares of Lam Research from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 2nd. KeyCorp reissued a “buy” rating and set a $225.00 target price on shares of Lam Research in a research note on Sunday, November 19th. Finally, Deutsche Bank upped their price target on shares of Lam Research to $230.00 and gave the company a “buy” rating in a research report on Wednesday, November 15th. Four equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. Lam Research presently has a consensus rating of “Buy” and a consensus price target of $212.99.

The firm has a market cap of $30,060.00, a P/E ratio of 17.05, a price-to-earnings-growth ratio of 0.86 and a beta of 1.57. The company has a current ratio of 3.31, a quick ratio of 2.83 and a debt-to-equity ratio of 0.24.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.27 by $0.19. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.46 billion. Lam Research had a net margin of 22.85% and a return on equity of 30.19%. The company’s revenue for the quarter was up 51.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.81 EPS. analysts expect that Lam Research Co. will post 14.74 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Wednesday, December 6th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Tuesday, December 5th. This is a positive change from Lam Research’s previous quarterly dividend of $0.45. Lam Research’s dividend payout ratio is currently 18.26%.

Lam Research declared that its board has authorized a stock buyback plan on Tuesday, November 14th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

In other news, VP Patrick J. Lord sold 264 shares of the stock in a transaction on Friday, November 24th. The shares were sold at an average price of $216.08, for a total transaction of $57,045.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Timothy Archer sold 11,590 shares of the stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $181.76, for a total transaction of $2,106,598.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,859 shares of company stock worth $9,284,799. Company insiders own 0.41% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Krilogy Financial LLC grew its stake in Lam Research by 91.6% in the 3rd quarter. Krilogy Financial LLC now owns 550 shares of the semiconductor company’s stock valued at $102,000 after buying an additional 263 shares during the last quarter. Odey Holdings AG grew its stake in Lam Research by 9.9% in the 2nd quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock valued at $115,000 after buying an additional 73 shares during the last quarter. BDO Wealth Advisors LLC acquired a new position in Lam Research in the 2nd quarter valued at $118,000. Bollard Group LLC bought a new stake in Lam Research in the 3rd quarter valued at $130,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in Lam Research in the 3rd quarter valued at $134,000. Institutional investors own 93.37% of the company’s stock.

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About Lam Research

Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.

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