Lam Research (NASDAQ:LRCX) Trading 0.5% Higher – Still a Buy?

Lam Research Co. (NASDAQ:LRCX) shares traded up 0.5% on Monday . The stock traded as high as $70.76 and last traded at $70.41. 2,535,676 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 11,222,016 shares. The stock had previously closed at $70.05.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Mizuho lowered their target price on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Cantor Fitzgerald restated a “neutral” rating and issued a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. Wells Fargo & Company lowered their target price on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a research note on Thursday, October 24th. Finally, Morgan Stanley lowered their price objective on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $97.03.

Lam Research Stock Up 0.7 %

The firm has a market cap of $90.80 billion, a PE ratio of 22.76, a PEG ratio of 1.11 and a beta of 1.48. The business’s 50 day moving average price is $77.23 and its 200 day moving average price is $87.95. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74.

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

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be paid a dividend of $0.23 per share. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.30%. Lam Research’s dividend payout ratio is currently 29.74%.

Insider Buying and Selling

In related news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the transaction, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. The trade was a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.29% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lam Research

Institutional investors and hedge funds have recently bought and sold shares of the company. CarsonAllaria Wealth Management Ltd. acquired a new position in Lam Research in the 2nd quarter valued at about $32,000. RFP Financial Group LLC lifted its holdings in shares of Lam Research by 52.2% in the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 12 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Lam Research in the 2nd quarter worth approximately $40,000. Country Trust Bank acquired a new position in shares of Lam Research in the 2nd quarter worth approximately $43,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Lam Research in the 2nd quarter worth approximately $45,000. 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.