Lam Research (NASDAQ:LRCX) Trading 1.4% Higher After Dividend Announcement

Lam Research Co. (NASDAQ:LRCX)’s share price shot up 1.4% on Thursday after the company announced a dividend. The stock traded as high as $78.23 and last traded at $77.82. 1,780,287 shares were traded during mid-day trading, a decline of 84% from the average session volume of 11,236,671 shares. The stock had previously closed at $76.78.

The newly announced dividend which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.16%. Lam Research’s dividend payout ratio (DPR) is presently 29.74%.

Analysts Set New Price Targets

A number of equities research analysts have commented on LRCX shares. Wells Fargo & Company decreased their price objective on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. B. Riley decreased their price target on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. TD Cowen boosted their price objective on shares of Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Lam Research in a report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $97.03.

Lam Research Price Performance

The firm has a market cap of $101.98 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 1.18 and a beta of 1.48. The company’s fifty day moving average is $77.73 and its 200 day moving average is $88.66. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The company had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same period in the prior year, the business posted $6.85 EPS. The company’s quarterly revenue was up 19.7% on a year-over-year basis. On average, equities research analysts predict that Lam Research Co. will post 3.52 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the transaction, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Lam Research

A number of institutional investors and hedge funds have recently modified their holdings of the company. Creative Planning raised its stake in Lam Research by 2.5% in the third quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock valued at $38,664,000 after buying an additional 1,146 shares during the period. Vest Financial LLC raised its stake in Lam Research by 68.7% in the 3rd quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock valued at $29,372,000 after acquiring an additional 14,658 shares during the period. Benson Investment Management Company Inc. acquired a new stake in Lam Research during the 3rd quarter valued at $5,182,000. Symmetry Investments LP bought a new position in Lam Research during the second quarter worth $3,229,000. Finally, Vontobel Holding Ltd. increased its holdings in shares of Lam Research by 38.4% in the third quarter. Vontobel Holding Ltd. now owns 120,736 shares of the semiconductor company’s stock valued at $98,530,000 after purchasing an additional 33,489 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

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.