Christina Corrreia Sells 647 Shares of Lam Research Co. (NASDAQ:LRCX) Stock

Lam Research Co. (NASDAQ:LRCX) CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $628,903.41. Following the sale, the chief accounting officer now owns 5,541 shares in the company, valued at $5,386,018.23. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Lam Research Stock Performance

LRCX opened at $978.37 on Thursday. The business has a fifty day simple moving average of $919.82 and a 200-day simple moving average of $772.45. The firm has a market cap of $128.26 billion, a PE ratio of 37.83, a P/E/G ratio of 3.49 and a beta of 1.51. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61. Lam Research Co. has a fifty-two week low of $480.45 and a fifty-two week high of $1,007.39.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, beating analysts’ consensus estimates of $7.06 by $0.46. The business had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.71 billion. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. Lam Research’s revenue for the quarter was down 28.8% on a year-over-year basis. During the same quarter last year, the company posted $10.71 EPS. As a group, equities analysts predict that Lam Research Co. will post 28.88 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were issued a dividend of $2.00 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.82%. Lam Research’s dividend payout ratio is currently 30.94%.

Hedge Funds Weigh In On Lam Research

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Baird Financial Group Inc. grew its holdings in shares of Lam Research by 11.5% during the first quarter. Baird Financial Group Inc. now owns 39,514 shares of the semiconductor company’s stock valued at $21,243,000 after buying an additional 4,090 shares in the last quarter. Zions Bancorporation N.A. boosted its position in Lam Research by 39.1% during the 1st quarter. Zions Bancorporation N.A. now owns 281 shares of the semiconductor company’s stock worth $151,000 after acquiring an additional 79 shares during the period. Brown Brothers Harriman & Co. increased its stake in Lam Research by 18.8% in the 1st quarter. Brown Brothers Harriman & Co. now owns 721 shares of the semiconductor company’s stock valued at $388,000 after buying an additional 114 shares during the period. Covestor Ltd lifted its position in Lam Research by 51.9% in the 1st quarter. Covestor Ltd now owns 322 shares of the semiconductor company’s stock worth $173,000 after buying an additional 110 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of Lam Research by 11.8% during the 1st quarter. Mackenzie Financial Corp now owns 233,280 shares of the semiconductor company’s stock valued at $125,414,000 after buying an additional 24,636 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. TD Cowen increased their price target on Lam Research from $710.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Stifel Nicolaus raised their price objective on Lam Research from $850.00 to $950.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Barclays increased their target price on shares of Lam Research from $750.00 to $825.00 and gave the stock an “equal weight” rating in a report on Thursday, January 25th. The Goldman Sachs Group increased their price target on Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Finally, Morgan Stanley lowered Lam Research from an “overweight” rating to an “equal weight” rating and set a $720.00 price objective for the company. in a research report on Friday, December 8th. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $826.68.

About Lam Research

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.