Lam Research Co. Plans Quarterly Dividend of $2.00 (NASDAQ:LRCX)

Lam Research Co. (NASDAQ:LRCX - Get Free Report) declared a quarterly dividend on Thursday, May 16th, RTT News reports. Investors of record on Tuesday, June 18th will be given a dividend of 2.00 per share by the semiconductor company on Wednesday, July 10th. This represents a $8.00 annualized dividend and a dividend yield of 0.85%.

Lam Research has raised its dividend by an average of 15.0% annually over the last three years and has raised its dividend every year for the last 9 years. Lam Research has a payout ratio of 22.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Lam Research to earn $35.21 per share next year, which means the company should continue to be able to cover its $8.00 annual dividend with an expected future payout ratio of 22.7%.

Lam Research Stock Performance

Lam Research stock traded down $4.85 during mid-day trading on Thursday, hitting $942.90. 811,579 shares of the company's stock traded hands, compared to its average volume of 1,028,367. The firm has a 50 day simple moving average of $935.42 and a two-hundred day simple moving average of $836.76. Lam Research has a fifty-two week low of $559.41 and a fifty-two week high of $1,007.39. The stock has a market cap of $123.27 billion, a price-to-earnings ratio of 34.86, a P/E/G ratio of 2.80 and a beta of 1.51. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, topping analysts' consensus estimates of $7.26 by $0.53. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The company had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter last year, the firm earned $6.99 earnings per share. The company's revenue was down 2.0% on a year-over-year basis. On average, research analysts expect that Lam Research will post 29.66 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on LRCX shares. Susquehanna dropped their price objective on Lam Research from $880.00 to $850.00 and set a "neutral" rating for the company in a research report on Thursday, April 25th. The Goldman Sachs Group increased their price objective on shares of Lam Research from $700.00 to $912.00 and gave the company a "buy" rating in a research note on Thursday, January 25th. Needham & Company LLC reaffirmed a "buy" rating and set a $1,030.00 target price on shares of Lam Research in a research note on Thursday, April 25th. Stifel Nicolaus increased their price target on Lam Research from $950.00 to $1,050.00 and gave the company a "buy" rating in a research note on Tuesday, April 16th. Finally, Evercore ISI assumed coverage on Lam Research in a research report on Tuesday, April 16th. They set an "outperform" rating and a $1,200.00 price objective on the stock. Seven equities 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 currently has an average rating of "Moderate Buy" and an average price target of $957.95.

Insiders Place Their Bets

In other news, insider George M. Schisler sold 400 shares of the company's stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $908.21, for a total transaction of $363,284.00. Following the transaction, the insider now directly owns 5,661 shares of the company's stock, valued at $5,141,376.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the company's stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the transaction, the senior vice president now directly owns 22,095 shares of the company's stock, valued at $20,380,648.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider George M. Schisler sold 400 shares of the company's stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $908.21, for a total value of $363,284.00. Following the transaction, the insider now directly owns 5,661 shares in the company, valued at $5,141,376.81. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,489 shares of company stock worth $6,978,065. Corporate insiders own 0.32% 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.

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