Lam Research Co. (NASDAQ:LRCX) EVP Sells $55,292.40 in Stock

Lam Research Co. (NASDAQ:LRCX - Get Free Report) EVP Patrick J. Lord sold 60 shares of the company's stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $921.54, for a total transaction of $55,292.40. Following the sale, the executive vice president now directly owns 4,454 shares in the company, valued at $4,104,539.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Lam Research Stock Down 3.7 %

Lam Research stock traded down $34.40 on Tuesday, hitting $894.41. 972,773 shares of the stock traded hands, compared to its average volume of 1,072,245. The company has a current ratio of 2.82, a quick ratio of 1.84 and a debt-to-equity ratio of 0.56. The firm has a market cap of $117.26 billion, a P/E ratio of 34.16, a price-to-earnings-growth ratio of 2.88 and a beta of 1.51. The business's fifty day simple moving average is $943.72 and its 200 day simple moving average is $813.44. Lam Research Co. has a 1 year low of $507.19 and a 1 year high of $1,007.39.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, beating the consensus estimate of $7.26 by $0.53. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The business had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter last year, the firm posted $6.99 earnings per share. The company's revenue for the quarter was down 2.0% on a year-over-year basis. As a group, sell-side analysts forecast that Lam Research Co. will post 29.54 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were issued a dividend of $2.00 per share. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 annualized dividend and a dividend yield of 0.89%. Lam Research's payout ratio is presently 29.42%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LRCX. Mizuho upped their price objective on shares of Lam Research from $935.00 to $960.00 and gave the stock a "buy" rating in a research report on Thursday, April 25th. UBS Group upped their price objective on shares of Lam Research from $1,130.00 to $1,150.00 and gave the stock a "buy" rating in a research report on Thursday, April 25th. Susquehanna reduced their price target on shares of Lam Research from $880.00 to $850.00 and set a "neutral" rating on the stock in a research report on Thursday, April 25th. Citigroup increased their price target on shares of Lam Research from $975.00 to $1,025.00 and gave the company a "buy" rating in a research report on Thursday, April 25th. Finally, Stifel Nicolaus increased their price target on shares of Lam Research from $950.00 to $1,050.00 and gave the company a "buy" rating in a research report on Tuesday, April 16th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $950.85.

Institutional Investors Weigh In On Lam Research

Large investors have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Lam Research during the 4th quarter valued at about $1,414,111,000. International Assets Investment Management LLC grew its stake in shares of Lam Research by 76,165.7% during the 4th quarter. International Assets Investment Management LLC now owns 318,028 shares of the semiconductor company's stock valued at $249,099,000 after purchasing an additional 317,611 shares during the period. Cerity Partners LLC grew its stake in shares of Lam Research by 1,125.6% during the 4th quarter. Cerity Partners LLC now owns 342,139 shares of the semiconductor company's stock valued at $267,984,000 after purchasing an additional 314,224 shares during the period. Van ECK Associates Corp grew its stake in shares of Lam Research by 24.6% during the 1st quarter. Van ECK Associates Corp now owns 968,115 shares of the semiconductor company's stock valued at $940,592,000 after purchasing an additional 191,230 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Lam Research by 10.8% in the third quarter. Bank of New York Mellon Corp now owns 1,642,367 shares of the semiconductor company's stock worth $1,029,386,000 after purchasing an additional 159,815 shares during the period. 84.61% of the stock is currently owned by institutional investors.

About Lam Research

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.