Patrick J. Lord Sells 60 Shares of Lam Research Co. (NASDAQ:LRCX) Stock

Lam Research Co. (NASDAQ:LRCX) EVP Patrick J. Lord sold 60 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $921.54, for a total transaction of $55,292.40. Following the transaction, the executive vice president now owns 4,454 shares in the company, valued at approximately $4,104,539.16. The sale was disclosed in a filing with the SEC, which is available at this link.

Lam Research Stock Performance

NASDAQ:LRCX opened at $868.10 on Thursday. The company has a current ratio of 2.82, a quick ratio of 1.84 and a debt-to-equity ratio of 0.56. The company’s 50-day moving average price is $942.92 and its 200-day moving average price is $815.57. Lam Research Co. has a twelve month low of $507.19 and a twelve month high of $1,007.39. The company has a market cap of $113.81 billion, a P/E ratio of 31.93, a P/E/G ratio of 2.88 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the previous year, the firm earned $6.99 earnings per share. Lam Research’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, sell-side analysts forecast that Lam Research Co. will post 29.62 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s dividend payout ratio (DPR) is presently 29.42%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Stifel Nicolaus upped their price target on shares of Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. The Goldman Sachs Group raised their price target on shares of Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Raymond James raised their price target on shares of Lam Research from $850.00 to $950.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Wells Fargo & Company raised their price target on shares of Lam Research from $930.00 to $980.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $1,030.00 price objective on shares of Lam Research in a report on Thursday, April 25th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $950.85.

Institutional Investors Weigh In On Lam Research

A number of institutional investors have recently made changes to their positions in the stock. Arlington Trust Co LLC increased its position in shares of Lam Research by 7.7% during the fourth quarter. Arlington Trust Co LLC now owns 182 shares of the semiconductor company’s stock valued at $143,000 after acquiring an additional 13 shares during the last quarter. Capital Performance Advisors LLP grew its holdings in shares of Lam Research by 2.2% in the fourth quarter. Capital Performance Advisors LLP now owns 613 shares of the semiconductor company’s stock valued at $480,000 after purchasing an additional 13 shares in the last quarter. Van Leeuwen & Company LLC grew its holdings in shares of Lam Research by 0.5% in the fourth quarter. Van Leeuwen & Company LLC now owns 2,583 shares of the semiconductor company’s stock valued at $2,023,000 after purchasing an additional 13 shares in the last quarter. Busey Bank grew its holdings in shares of Lam Research by 1.5% in the first quarter. Busey Bank now owns 869 shares of the semiconductor company’s stock valued at $844,000 after purchasing an additional 13 shares in the last quarter. Finally, First Affirmative Financial Network grew its holdings in shares of Lam Research by 2.5% in the first quarter. First Affirmative Financial Network now owns 525 shares of the semiconductor company’s stock valued at $510,000 after purchasing an additional 13 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

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.