Lam Research Co. (NASDAQ:LRCX) Short Interest Update

Lam Research Co. (NASDAQ:LRCX) saw a significant decline in short interest in September. As of September 15th, there was short interest totalling 2,200,000 shares, a decline of 14.4% from the August 31st total of 2,570,000 shares. Approximately 1.7% of the company’s stock are short sold. Based on an average trading volume of 1,230,000 shares, the short-interest ratio is presently 1.8 days.

Lam Research Trading Down 2.4 %

Shares of LRCX stock opened at $827.12 on Friday. Lam Research has a 52-week low of $574.42 and a 52-week high of $1,130.00. The stock has a market cap of $108.14 billion, a price-to-earnings ratio of 30.42, a P/E/G ratio of 1.51 and a beta of 1.48. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. The firm has a fifty day moving average of $817.83 and a 200-day moving average of $920.42.

Lam Research’s stock is scheduled to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be distributed to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.58 by $0.56. The business had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter last year, the company posted $5.98 EPS. On average, equities research analysts forecast that Lam Research will post 35.2 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be given a dividend of $2.30 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.11%. This is a boost from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s dividend payout ratio (DPR) is 33.84%.

Insiders Place Their Bets

In other Lam Research news, SVP Neil J. Fernandes sold 1,620 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $1,056.99, for a total value of $1,712,323.80. Following the completion of the sale, the senior vice president now directly owns 5,237 shares of the company’s stock, valued at $5,535,456.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the completion of the sale, the chief accounting officer now directly owns 4,914 shares of the company’s stock, valued at approximately $5,219,945.64. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Neil J. Fernandes sold 1,620 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $1,056.99, for a total transaction of $1,712,323.80. Following the sale, the senior vice president now directly owns 5,237 shares of the company’s stock, valued at $5,535,456.63. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Lam Research

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Lam Research by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock worth $11,519,576,000 after purchasing an additional 144,914 shares in the last quarter. Fisher Asset Management LLC increased its position in Lam Research by 3.0% in the 4th quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock valued at $2,329,037,000 after acquiring an additional 86,721 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Lam Research by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock valued at $2,875,023,000 after acquiring an additional 142,903 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Lam Research by 7.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock valued at $1,335,522,000 after acquiring an additional 89,470 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in Lam Research by 11.1% in the 2nd quarter. Van ECK Associates Corp now owns 1,075,893 shares of the semiconductor company’s stock valued at $1,145,664,000 after acquiring an additional 107,778 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Raymond James upped their price objective on shares of Lam Research from $950.00 to $1,060.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. TD Cowen increased their price target on shares of Lam Research from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Barclays increased their price target on shares of Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a report on Wednesday, June 5th. UBS Group reduced their price target on shares of Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Lam Research from $1,100.00 to $950.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,012.84.

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.