Lam Research (NASDAQ:LRCX) Shares Gap Down - Here's Why

Key Points

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Shares of Lam Research Corporation (NASDAQ:LRCX - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $99.09, but opened at $91.02. Lam Research shares last traded at $93.87, with a volume of 6,742,425 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on LRCX shares. Wells Fargo & Company set a $98.00 price objective on shares of Lam Research and gave the stock an "equal weight" rating in a report on Thursday. UBS Group boosted their price objective on shares of Lam Research from $95.00 to $120.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Argus raised shares of Lam Research to a "strong-buy" rating in a report on Friday, April 25th. Mizuho increased their price objective on shares of Lam Research from $100.00 to $115.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. Finally, Barclays set a $83.00 target price on shares of Lam Research and gave the stock an "equal weight" rating in a research note on Monday. Eight equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Lam Research currently has an average rating of "Moderate Buy" and an average target price of $106.05.

Lam Research Stock Down 0.0%

The company's fifty day simple moving average is $93.65 and its 200 day simple moving average is $82.23. The firm has a market capitalization of $121.31 billion, a PE ratio of 22.75, a price-to-earnings-growth ratio of 1.40 and a beta of 1.68. The company has a quick ratio of 1.64, a current ratio of 2.45 and a debt-to-equity ratio of 0.39.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.12. Lam Research had a net margin of 29.07% and a return on equity of 59.69%. The company had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter last year, the firm earned $1.03 earnings per share. The firm's quarterly revenue was up 33.6% compared to the same quarter last year. Analysts anticipate that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is currently 25.63%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Smallwood Wealth Investment Management LLC purchased a new position in shares of Lam Research during the 1st quarter valued at $26,000. IMG Wealth Management Inc. purchased a new position in shares of Lam Research during the 2nd quarter valued at $26,000. West Paces Advisors Inc. purchased a new position in shares of Lam Research during the 4th quarter valued at $27,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Lam Research during the 4th quarter valued at $27,000. Finally, Park Square Financial Group LLC purchased a new position in shares of Lam Research during the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Lam Research Company Profile

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.