Timothy Archer Sells 9,650 Shares of Lam Research Co. (NASDAQ:LRCX) Stock

Lam Research Co. (NASDAQ:LRCX) CEO Timothy Archer sold 9,650 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $1,070.39, for a total value of $10,329,263.50. Following the completion of the sale, the chief executive officer now owns 84,639 shares in the company, valued at $90,596,739.21. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Lam Research Stock Up 0.9 %

Shares of NASDAQ LRCX opened at $1,082.74 on Thursday. Lam Research Co. has a 12 month low of $574.42 and a 12 month high of $1,101.81. The company has a current ratio of 2.82, a quick ratio of 1.84 and a debt-to-equity ratio of 0.56. The firm has a market capitalization 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 has a 50-day moving average of $971.77 and a 200-day moving average of $912.14.

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 distributed 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. The company 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%. Lam Research’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.99 earnings per share. Sell-side analysts expect that Lam Research Co. will post 29.67 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Tuesday, June 18th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 0.74%. The ex-dividend date is Tuesday, June 18th. Lam Research’s dividend payout ratio is currently 29.42%.

Lam Research announced that its Board of Directors has initiated a stock buyback program on Tuesday, May 21st that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to buy up to 8.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Lam Research

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Arlington Trust Co LLC boosted its stake in Lam Research by 7.7% in the fourth quarter. Arlington Trust Co LLC now owns 182 shares of the semiconductor company’s stock worth $143,000 after buying an additional 13 shares in the last quarter. Capital Performance Advisors LLP lifted its position 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 lifted its position 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 valued at $2,023,000 after purchasing an additional 13 shares during the last quarter. Busey Bank lifted its position in Lam Research by 1.5% in the first quarter. Busey Bank now owns 869 shares of the semiconductor company’s stock valued at $844,000 after purchasing an additional 13 shares during the last quarter. Finally, First Affirmative Financial Network lifted its position in Lam Research by 2.5% in the first quarter. First Affirmative Financial Network now owns 525 shares of the semiconductor company’s stock valued at $510,000 after purchasing an additional 13 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LRCX. Needham & Company LLC restated a “buy” rating and issued a $1,030.00 price objective on shares of Lam Research in a research note on Thursday, April 25th. JPMorgan Chase & Co. boosted their price objective on Lam Research from $900.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Wells Fargo & Company boosted their price objective on Lam Research from $980.00 to $1,100.00 and gave the company an “equal weight” rating in a research note on Monday, June 17th. Susquehanna lowered their price objective on Lam Research from $880.00 to $850.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Finally, Barclays boosted their price objective 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. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and an average 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.