Lam Research (LRCX) Short Interest Update

Lam Research (NASDAQ:LRCX) was the recipient of a large decline in short interest in the month of March. As of March 29th, there was short interest totalling 9,561,929 shares, a decline of 15.6% from the March 15th total of 11,331,935 shares. Based on an average daily volume of 3,571,241 shares, the short-interest ratio is presently 2.7 days. Currently, 5.9% of the shares of the company are short sold.

Several brokerages have recently commented on LRCX. BidaskClub upgraded shares of Lam Research from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 10th. Stifel Nicolaus boosted their target price on shares of Lam Research from $235.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. ValuEngine upgraded shares of Lam Research from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Morgan Stanley boosted their target price on shares of Lam Research from $229.00 to $238.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. Finally, JPMorgan Chase boosted their target price on shares of Lam Research from $230.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. One investment analyst has rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $245.14.

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LRCX stock opened at $203.74 on Friday. The company has a market cap of $33,571.48, a P/E ratio of 20.41, a P/E/G ratio of 0.69 and a beta of 1.41. Lam Research has a 1 year low of $125.74 and a 1 year high of $234.88. The company has a quick ratio of 2.09, a current ratio of 2.47 and a debt-to-equity ratio of 0.29.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, January 24th. The semiconductor company reported $4.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.68 by $0.66. Lam Research had a net margin of 17.60% and a return on equity of 36.08%. The firm had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same period in the previous year, the firm posted $2.24 EPS. The company’s revenue for the quarter was up 37.1% compared to the same quarter last year. research analysts expect that Lam Research will post 16.76 earnings per share for the current fiscal year.

Lam Research announced that its board has authorized a share buyback program on Tuesday, March 6th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 7th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Tuesday, March 6th. Lam Research’s payout ratio is 20.04%.

In other news, insider Sarah A. O’dowd sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 22nd. The shares were sold at an average price of $224.28, for a total value of $2,242,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Seshasayee Varadarajan sold 25,453 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $215.00, for a total transaction of $5,472,395.00. The disclosure for this sale can be found here. Insiders sold a total of 88,393 shares of company stock valued at $19,222,556 in the last three months. Insiders own 0.41% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Lourd Capital LLC bought a new stake in Lam Research during the 4th quarter worth approximately $360,000. Delek Group Ltd. bought a new stake in Lam Research during the 4th quarter worth approximately $957,000. E&G Advisors LP grew its holdings in Lam Research by 101.6% during the 4th quarter. E&G Advisors LP now owns 6,250 shares of the semiconductor company’s stock worth $1,150,000 after acquiring an additional 3,150 shares during the last quarter. Neuberger Berman Group LLC grew its holdings in Lam Research by 5.4% during the 3rd quarter. Neuberger Berman Group LLC now owns 191,649 shares of the semiconductor company’s stock worth $35,463,000 after acquiring an additional 9,785 shares during the last quarter. Finally, Assetmark Inc. grew its holdings in Lam Research by 6.5% during the 4th quarter. Assetmark Inc. now owns 6,627 shares of the semiconductor company’s stock worth $1,220,000 after acquiring an additional 405 shares during the last quarter. 90.35% of the stock is currently owned by hedge funds and other institutional investors.

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About Lam Research

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers thin film deposition products, including SABRE electrochemical deposition products for copper damascene manufacturing; ALTUS systems to deposit conformal atomic layer films for tungsten metallization applications; VECTOR plasma-enhanced chemical vapor deposition (CVD) and atomic layer deposition systems to deposit oxides, nitrides, and carbides for hardmasks, multiple patterning films, anti-reflective layers, multi-layer stack films, and diffusion barriers; and Striker atomic layer deposition systems that deliver conformal dielectric films for spacer-based patterning and liner applications in various advanced memory and logic structures.

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