Lam Research Co. (NASDAQ:LRCX) EVP Patrick J. Lord Sells 1,845 Shares

Lam Research Co. (NASDAQ:LRCX) EVP Patrick J. Lord sold 1,845 shares of the firm’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $691.67, for a total value of $1,276,131.15. Following the transaction, the executive vice president now directly owns 9,892 shares of the company’s stock, valued at $6,841,999.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Lam Research Trading Up 0.4 %

Shares of Lam Research stock opened at $697.90 on Thursday. Lam Research Co. has a 52-week low of $397.06 and a 52-week high of $726.53. The stock’s 50-day simple moving average is $632.20 and its 200 day simple moving average is $630.31. The stock has a market capitalization of $91.98 billion, a P/E ratio of 23.73, a P/E/G ratio of 4.66 and a beta of 1.52. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.94 and a current ratio of 3.06.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, October 18th. The semiconductor company reported $6.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.15 by $0.70. Lam Research had a return on equity of 50.02% and a net margin of 25.08%. The business had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.42 billion. During the same period in the previous year, the business posted $10.42 EPS. The firm’s quarterly revenue was down 31.4% compared to the same quarter last year. As a group, research analysts anticipate that Lam Research Co. will post 27.65 EPS for the current year.

Lam Research Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 13th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Tuesday, December 12th. This represents a $8.00 annualized dividend and a yield of 1.15%. This is an increase from Lam Research’s previous quarterly dividend of $0.28. Lam Research’s dividend payout ratio (DPR) is currently 27.20%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in LRCX. Bank Julius Baer & Co. Ltd Zurich increased its stake in Lam Research by 97,796.1% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 131,092,612 shares of the semiconductor company’s stock worth $84,274,197,000 after acquiring an additional 130,958,702 shares during the last quarter. Moneta Group Investment Advisors LLC increased its stake in Lam Research by 117,180.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 32,822,222 shares of the semiconductor company’s stock worth $13,795,180,000 after acquiring an additional 32,794,236 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Lam Research by 1,018.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 3,507,601 shares of the semiconductor company’s stock worth $169,077,000 after acquiring an additional 3,193,985 shares during the last quarter. GQG Partners LLC bought a new stake in Lam Research during the first quarter worth about $913,330,000. Finally, Norges Bank bought a new stake in Lam Research during the fourth quarter worth about $619,226,000. Institutional investors own 84.08% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Raymond James assumed coverage on shares of Lam Research in a research report on Tuesday, October 17th. They set an “outperform” rating and a $725.00 price target on the stock. Barclays lifted their price target on shares of Lam Research from $575.00 to $600.00 and gave the company an “equal weight” rating in a research note on Thursday, July 27th. Needham & Company LLC raised shares of Lam Research from a “hold” rating to a “buy” rating and set a $800.00 price target for the company in a research note on Friday, October 13th. StockNews.com began coverage on shares of Lam Research in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Finally, UBS Group dropped their price objective on shares of Lam Research from $750.00 to $725.00 and set a “buy” rating on the stock in a research note on Thursday, October 5th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $660.00.

Lam Research Company Profile

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.