Christina Correia Sells 647 Shares of Lam Research Co. (NASDAQ:LRCX) Stock

Lam Research Co. (NASDAQ:LRCX) CAO Christina Correia sold 647 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $1,062.26, for a total value of $687,282.22. Following the transaction, the chief accounting officer now directly owns 4,914 shares of the company’s stock, valued at $5,219,945.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Lam Research Stock Performance

LRCX stock opened at $1,082.74 on Thursday. Lam Research Co. has a twelve month low of $574.42 and a twelve month high of $1,101.81. The firm has a market cap of $141.56 billion, a price-to-earnings ratio of 39.82, a PEG ratio of 3.68 and a beta of 1.48. The business’s fifty day simple moving average is $971.77 and its two-hundred day simple moving average is $912.14. The company has a quick ratio of 1.84, a current ratio of 2.82 and a debt-to-equity ratio of 0.56.

Lam Research shares are scheduled 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 announced its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53. The company had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.72 billion. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the business posted $6.99 EPS. Analysts predict that Lam Research Co. will post 29.67 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Tuesday, June 18th will be paid a dividend of $2.00 per share. The ex-dividend date is Tuesday, June 18th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.74%. Lam Research’s dividend payout ratio is presently 29.42%.

Lam Research declared that its Board of Directors has approved a share repurchase program on Tuesday, May 21st that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to reacquire up to 8.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Wells Fargo & Company upped their price objective on Lam Research from $980.00 to $1,100.00 and gave the stock an “equal weight” rating in a report on Monday, June 17th. Susquehanna lowered their price objective on shares of Lam Research from $880.00 to $850.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. B. Riley boosted their target price on shares of Lam Research from $1,130.00 to $1,325.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Mizuho increased their price target on shares of Lam Research from $935.00 to $960.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Finally, Needham & Company LLC reissued a “buy” rating and set a $1,030.00 price objective on shares of Lam Research in a research note on Thursday, April 25th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $981.29.

Institutional Trading of Lam Research

Hedge funds have recently bought and sold shares of the stock. Arlington Trust Co LLC raised its position in shares of Lam Research by 7.7% in the 4th quarter. Arlington Trust Co LLC now owns 182 shares of the semiconductor company’s stock worth $143,000 after acquiring an additional 13 shares in the last quarter. Capital Performance Advisors LLP grew its stake in 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 during the last quarter. Van Leeuwen & Company LLC raised its holdings in Lam Research by 0.5% in the fourth quarter. Van Leeuwen & Company LLC now owns 2,583 shares of the semiconductor company’s stock worth $2,023,000 after purchasing an additional 13 shares in the last quarter. Busey Bank raised 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 worth $844,000 after buying an additional 13 shares during the last quarter. Finally, First Affirmative Financial Network lifted its stake in shares of Lam Research by 2.5% during the first quarter. First Affirmative Financial Network now owns 525 shares of the semiconductor company’s stock worth $510,000 after buying an additional 13 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

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.