Lam Research Co. (NASDAQ:LRCX) SVP Sells $4,654,845.84 in Stock

Lam Research Co. (NASDAQ:LRCX) SVP Neil J. Fernandes sold 4,409 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total value of $4,654,845.84. Following the completion of the sale, the senior vice president now owns 6,857 shares in the company, valued at approximately $7,239,346.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Lam Research Trading Down 0.4 %

Shares of NASDAQ LRCX traded down $4.22 during trading hours on Monday, hitting $1,060.63. The company’s stock had a trading volume of 614,203 shares, compared to its average volume of 1,020,970. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.84 and a current ratio of 2.82. The stock has a market cap of $138.67 billion, a price-to-earnings ratio of 39.01, a P/E/G ratio of 3.68 and a beta of 1.48. Lam Research Co. has a 12 month low of $574.42 and a 12 month high of $1,101.81. The business has a 50-day simple moving average of $964.21 and a 200-day simple moving average of $907.97.

Lam Research’s stock is going to split on the morning of Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly issued shares will be payable to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, topping the consensus estimate of $7.26 by $0.53. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The business had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same period last year, the business posted $6.99 earnings per share. Lam Research’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, analysts anticipate that Lam Research Co. will post 29.67 earnings per share for the current fiscal year.

Lam Research announced that its Board of Directors has approved a stock buyback program on Tuesday, May 21st that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 8.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Tuesday, June 18th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $8.00 annualized dividend and a yield of 0.75%. Lam Research’s dividend payout ratio (DPR) is presently 29.42%.

Institutional Trading of Lam Research

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Checchi Capital Advisers LLC lifted its holdings in shares of Lam Research by 1.0% during the fourth quarter. Checchi Capital Advisers LLC now owns 1,781 shares of the semiconductor company’s stock valued at $1,395,000 after purchasing an additional 18 shares during the last quarter. Citizens Financial Group Inc. RI lifted its holdings in shares of Lam Research by 20.9% during the fourth quarter. Citizens Financial Group Inc. RI now owns 491 shares of the semiconductor company’s stock valued at $384,000 after purchasing an additional 85 shares during the last quarter. Everence Capital Management Inc. lifted its holdings in shares of Lam Research by 54.7% during the fourth quarter. Everence Capital Management Inc. now owns 4,073 shares of the semiconductor company’s stock valued at $3,190,000 after purchasing an additional 1,440 shares during the last quarter. Gradient Investments LLC lifted its holdings in shares of Lam Research by 32,411.1% during the fourth quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock valued at $11,459,000 after purchasing an additional 14,585 shares during the last quarter. Finally, Contravisory Investment Management Inc. purchased a new position in shares of Lam Research during the fourth quarter valued at approximately $7,930,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on LRCX shares. Deutsche Bank Aktiengesellschaft started coverage on Lam Research in a research note on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 target price on the stock. Barclays increased their target price on Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 5th. Mizuho increased their target price on Lam Research from $935.00 to $960.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Stifel Nicolaus increased their target price on Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $1,030.00 target price on shares of Lam Research in a research note on Thursday, April 25th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $981.29.

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.