Lam Research (NASDAQ:LRCX) Sets New 12-Month High at $238.48

Lam Research Co. (NASDAQ:LRCX)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $238.48 and last traded at $237.54, with a volume of 242381 shares changing hands. The stock had previously closed at $236.78.

Several analysts have weighed in on LRCX shares. KeyCorp lifted their price objective on Lam Research from $236.00 to $252.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Cfra set a $210.00 price objective on Lam Research and gave the company a “hold” rating in a research report on Saturday, August 31st. Evercore ISI raised Lam Research from an “in-line” rating to an “outperform” rating in a research report on Tuesday, September 3rd. Goldman Sachs Group cut Lam Research from a “buy” rating to a “neutral” rating in a research report on Monday, July 22nd. Finally, Credit Suisse Group reaffirmed a “positive” rating on shares of Lam Research in a research report on Monday, July 8th. They noted that the move was a valuation call. Twelve research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $221.53.

The company has a market capitalization of $34.05 billion, a PE ratio of 16.33, a price-to-earnings-growth ratio of 1.44 and a beta of 1.62. The business’s fifty day moving average is $210.97 and its two-hundred day moving average is $193.68. The company has a current ratio of 3.61, a quick ratio of 2.96 and a debt-to-equity ratio of 0.81.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $3.62 earnings per share for the quarter, topping analysts’ consensus estimates of $3.40 by $0.22. Lam Research had a net margin of 22.70% and a return on equity of 43.72%. The company had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.37 billion. During the same period in the previous year, the business earned $5.31 EPS. The firm’s revenue for the quarter was down 24.5% on a year-over-year basis. As a group, equities research analysts anticipate that Lam Research Co. will post 13.6 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Tuesday, October 1st will be issued a $1.15 dividend. This is a positive change from Lam Research’s previous quarterly dividend of $1.10. This represents a $4.60 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Monday, September 30th. Lam Research’s payout ratio is presently 30.24%.

In other Lam Research news, SVP Vahid Vahedi sold 12,007 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $220.00, for a total transaction of $2,641,540.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Abhijit Y. Talwalkar sold 3,987 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $210.00, for a total transaction of $837,270.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,997 shares of company stock valued at $14,854,855. 0.44% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in LRCX. Global Retirement Partners LLC grew its position in shares of Lam Research by 119.4% during the 1st quarter. Global Retirement Partners LLC now owns 147 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 80 shares during the period. Hexavest Inc. bought a new stake in shares of Lam Research during the 2nd quarter valued at $28,000. Zions Bancorporation N.A. bought a new stake in shares of Lam Research during the 1st quarter valued at $28,000. MUFG Americas Holdings Corp grew its position in shares of Lam Research by 75.0% during the 2nd quarter. MUFG Americas Holdings Corp now owns 175 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 75 shares during the period. Finally, Strategy Asset Managers LLC bought a new stake in shares of Lam Research during the 1st quarter valued at $33,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

Lam Research Company Profile (NASDAQ:LRCX)

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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