Lam Research Co. (NASDAQ:LRCX) Declares $1.50 Quarterly Dividend

Lam Research Co. (NASDAQ:LRCXGet Rating) announced a quarterly dividend on Wednesday, May 11th, Zacks reports. Stockholders of record on Wednesday, June 15th will be given a dividend of 1.50 per share by the semiconductor company on Wednesday, July 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Tuesday, June 14th.

Lam Research has raised its dividend payment by an average of 13.8% per year over the last three years and has raised its dividend every year for the last 7 years. Lam Research has a dividend payout ratio of 15.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Lam Research to earn $38.44 per share next year, which means the company should continue to be able to cover its $6.00 annual dividend with an expected future payout ratio of 15.6%.

LRCX stock opened at $460.43 on Friday. Lam Research has a 52-week low of $442.53 and a 52-week high of $731.85. The company’s 50 day simple moving average is $496.66 and its 200-day simple moving average is $585.22. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.83 and a quick ratio of 2.00. The firm has a market capitalization of $63.87 billion, a P/E ratio of 14.39, a P/E/G ratio of 0.94 and a beta of 1.27.

Lam Research (NASDAQ:LRCXGet Rating) last released its quarterly earnings data on Wednesday, April 20th. The semiconductor company reported $7.40 earnings per share for the quarter, missing the consensus estimate of $7.48 by ($0.08). The company had revenue of $4.06 billion during the quarter, compared to analyst estimates of $4.24 billion. Lam Research had a net margin of 27.13% and a return on equity of 75.51%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $7.49 EPS. Sell-side analysts predict that Lam Research will post 31.61 EPS for the current fiscal year.

In other Lam Research news, EVP Richard A. Gottscho sold 537 shares of Lam Research stock in a transaction that occurred on Thursday, March 3rd. The shares were sold at an average price of $560.50, for a total value of $300,988.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Catherine P. Lego purchased 1,736 shares of the business’s stock in a transaction on Tuesday, April 26th. The stock was bought at an average cost of $460.35 per share, for a total transaction of $799,167.60. Following the purchase, the director now owns 49,991 shares of the company’s stock, valued at approximately $23,013,356.85. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Keudell Morrison Wealth Management lifted its stake in Lam Research by 8.8% in the third quarter. Keudell Morrison Wealth Management now owns 1,850 shares of the semiconductor company’s stock valued at $1,053,000 after buying an additional 150 shares in the last quarter. Weiss Multi Strategy Advisers LLC lifted its stake in Lam Research by 30.4% in the fourth quarter. Weiss Multi Strategy Advisers LLC now owns 6,521 shares of the semiconductor company’s stock valued at $4,690,000 after buying an additional 1,521 shares in the last quarter. Toroso Investments LLC raised its holdings in shares of Lam Research by 10.1% in the fourth quarter. Toroso Investments LLC now owns 3,561 shares of the semiconductor company’s stock valued at $2,561,000 after purchasing an additional 328 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of Lam Research by 21.5% in the fourth quarter. Integrated Wealth Concepts LLC now owns 1,413 shares of the semiconductor company’s stock valued at $1,016,000 after purchasing an additional 250 shares during the last quarter. Finally, EP Wealth Advisors LLC raised its holdings in shares of Lam Research by 8.4% in the fourth quarter. EP Wealth Advisors LLC now owns 1,381 shares of the semiconductor company’s stock valued at $993,000 after purchasing an additional 107 shares during the last quarter. 82.34% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have weighed in on the stock. B. Riley dropped their price objective on shares of Lam Research from $725.00 to $625.00 and set a “buy” rating on the stock in a research note on Monday, April 18th. Jefferies Financial Group dropped their price objective on shares of Lam Research from $869.00 to $670.00 in a research note on Friday, April 22nd. Susquehanna Bancshares dropped their price objective on shares of Lam Research from $655.00 to $640.00 and set a “neutral” rating on the stock in a research note on Thursday, January 27th. Stifel Nicolaus increased their price target on shares of Lam Research from $775.00 to $837.00 in a research note on Thursday, April 7th. Finally, Berenberg Bank increased their price target on shares of Lam Research from $790.00 to $840.00 in a research note on Tuesday, January 18th. Twelve equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $670.90.

Lam Research Company Profile (Get Rating)

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.

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Dividend History for Lam Research (NASDAQ:LRCX)

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