Lam Research (NASDAQ:LRCX) Stock Price Down 5.3%

Lam Research Co. (NASDAQ:LRCX) traded down 5.3% during mid-day trading on Wednesday . The company traded as low as $178.82 and last traded at $179.88. 2,684,965 shares changed hands during mid-day trading, an increase of 16% from the average session volume of 2,311,524 shares. The stock had previously closed at $189.92.

A number of equities research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Lam Research from a “hold” rating to a “sell” rating in a report on Thursday, April 11th. Mizuho reissued a “buy” rating and issued a $180.00 price objective on shares of Lam Research in a report on Tuesday, April 16th. Needham & Company LLC upped their price objective on shares of Lam Research from $180.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. UBS Group upped their price objective on shares of Lam Research from $170.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Finally, B. Riley raised shares of Lam Research from a “neutral” rating to a “buy” rating and upped their target price for the company from $170.00 to $235.00 in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $224.78.

The stock has a market capitalization of $28.90 billion, a PE ratio of 10.07, a PEG ratio of 1.09 and a beta of 1.63. The company has a current ratio of 3.37, a quick ratio of 2.79 and a debt-to-equity ratio of 0.71.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $3.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.38 by $0.32. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. Lam Research had a net margin of 25.64% and a return on equity of 46.66%. The business’s quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.79 earnings per share. Research analysts anticipate that Lam Research Co. will post 14.33 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Wednesday, June 12th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, June 11th. This represents a $4.40 annualized dividend and a yield of 2.45%. Lam Research’s dividend payout ratio (DPR) is 24.62%.

In other Lam Research news, Director Abhijit Y. Talwalkar sold 3,988 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $203.00, for a total value of $809,564.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Patrick J. Lord sold 9,177 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $185.00, for a total transaction of $1,697,745.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,556 shares of company stock worth $5,252,080. 0.44% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in LRCX. Oregon Public Employees Retirement Fund increased its stake in Lam Research by 35,969.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 15,760,316 shares of the semiconductor company’s stock valued at $116,000 after purchasing an additional 15,716,622 shares during the last quarter. FMR LLC increased its stake in Lam Research by 88.0% in the fourth quarter. FMR LLC now owns 6,652,531 shares of the semiconductor company’s stock valued at $905,875,000 after purchasing an additional 3,114,393 shares during the last quarter. American International Group Inc. increased its stake in Lam Research by 1,921.2% in the fourth quarter. American International Group Inc. now owns 2,848,583 shares of the semiconductor company’s stock valued at $387,892,000 after purchasing an additional 2,707,651 shares during the last quarter. Norges Bank purchased a new position in Lam Research in the fourth quarter valued at approximately $215,477,000. Finally, Amundi Pioneer Asset Management Inc. increased its stake in Lam Research by 563.0% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 1,043,217 shares of the semiconductor company’s stock valued at $186,745,000 after purchasing an additional 885,862 shares during the last quarter. Institutional investors own 86.77% of the company’s stock.

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Lam Research Company Profile (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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