Lam Research Co. (NASDAQ:LRCX) CAO Christina Corrreia Sells 647 Shares

Lam Research Co. (NASDAQ:LRCXGet Free Report) CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the transaction, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Lam Research Stock Down 1.5 %

Shares of LRCX opened at $967.33 on Wednesday. The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61. The firm has a market cap of $126.82 billion, a P/E ratio of 37.41, a price-to-earnings-growth ratio of 3.46 and a beta of 1.51. The company’s 50-day moving average price is $917.08 and its 200 day moving average price is $770.03. Lam Research Co. has a 12-month low of $480.45 and a 12-month high of $1,007.39.

Lam Research (NASDAQ:LRCXGet Free Report) last posted its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, beating the consensus estimate of $7.06 by $0.46. The business had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.71 billion. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The company’s revenue was down 28.8% compared to the same quarter last year. During the same period in the prior year, the company earned $10.71 earnings per share. On average, sell-side analysts forecast that Lam Research Co. will post 28.88 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Tuesday, March 12th. Lam Research’s payout ratio is currently 30.94%.

Institutional Investors Weigh In On Lam Research

Several large investors have recently modified their holdings of LRCX. Orion Capital Management LLC acquired a new stake in shares of Lam Research in the third quarter valued at approximately $25,000. Bollard Group LLC boosted its holdings in shares of Lam Research by 60.0% in the second quarter. Bollard Group LLC now owns 40 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 15 shares during the period. Hobbs Group Advisors LLC acquired a new stake in shares of Lam Research during the fourth quarter worth $27,000. BluePath Capital Management LLC acquired a new stake in shares of Lam Research during the third quarter worth $28,000. Finally, DSM Capital Partners LLC acquired a new stake in shares of Lam Research during the fourth quarter worth $28,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LRCX has been the subject of several recent analyst reports. The Goldman Sachs Group boosted their price target on shares of Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Citigroup boosted their price target on shares of Lam Research from $800.00 to $975.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Cantor Fitzgerald reissued a “neutral” rating and issued a $900.00 price target on shares of Lam Research in a report on Monday, March 4th. Needham & Company LLC boosted their price target on shares of Lam Research from $800.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, UBS Group lifted their target price on shares of Lam Research from $885.00 to $1,130.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $826.68.

Read Our Latest Report on Lam Research

Lam Research Company Profile

(Get Free Report)

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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Insider Buying and Selling by Quarter for Lam Research (NASDAQ:LRCX)

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