Neil J. Fernandes Sells 4,409 Shares of Lam Research Co. (NASDAQ:LRCX) Stock

Lam Research Co. (NASDAQ:LRCX) SVP Neil J. Fernandes sold 4,409 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the completion of the sale, the senior vice president now directly owns 6,857 shares of the company’s stock, valued at approximately $7,239,346.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Lam Research Trading Up 1.1 %

Lam Research stock opened at $1,072.82 on Wednesday. Lam Research Co. has a 12-month low of $574.42 and a 12-month high of $1,101.81. The stock has a market capitalization of $140.26 billion, a PE ratio of 39.33, a price-to-earnings-growth ratio of 3.68 and a beta of 1.48. The firm has a 50 day simple moving average of $968.06 and a 200-day simple moving average of $910.04. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84.

Lam Research shares are set to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be issued to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, beating the consensus estimate of $7.26 by $0.53. The business had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.72 billion. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The company’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.99 earnings per share. As a group, equities research analysts expect that Lam Research Co. will post 29.67 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Tuesday, June 18th will be issued a $2.00 dividend. The ex-dividend date is Tuesday, June 18th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.75%. Lam Research’s payout ratio is currently 29.42%.

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on LRCX shares. Stifel Nicolaus upped their price objective 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. JPMorgan Chase & Co. lifted their price objective on shares of Lam Research from $900.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Susquehanna dropped their target price on shares of Lam Research from $880.00 to $850.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,030.00 price target on shares of Lam Research in a report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Lam Research in a research note on Thursday, April 11th. They set a “hold” rating and a $1,000.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $981.29.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LRCX. Checchi Capital Advisers LLC raised its position 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 worth $1,395,000 after purchasing an additional 18 shares during the period. Citizens Financial Group Inc. RI lifted its stake in 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 buying an additional 85 shares in the last quarter. Everence Capital Management Inc. boosted its holdings in shares of Lam Research by 54.7% in the fourth quarter. Everence Capital Management Inc. now owns 4,073 shares of the semiconductor company’s stock worth $3,190,000 after buying an additional 1,440 shares during the period. Gradient Investments LLC increased its position in shares of Lam Research by 32,411.1% in the fourth quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock worth $11,459,000 after acquiring an additional 14,585 shares in the last quarter. Finally, Contravisory Investment Management Inc. acquired a new stake in shares of Lam Research during the fourth quarter valued at approximately $7,930,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

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.