Lam Research (NASDAQ:LRCX) Shares Down 2.6%

Lam Research Co. (NASDAQ:LRCX - Get Free Report)'s stock price was down 2.6% during trading on Wednesday . The stock traded as low as $935.19 and last traded at $938.55. Approximately 124,118 shares traded hands during trading, a decline of 88% from the average daily volume of 1,005,383 shares. The stock had previously closed at $963.23.

Analysts Set New Price Targets

Several equities research analysts recently commented on LRCX shares. Susquehanna lifted their target price on shares of Lam Research from $655.00 to $880.00 and gave the stock a "neutral" rating in a research report on Monday, January 29th. Wells Fargo & Company raised their price target on shares of Lam Research from $930.00 to $980.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 2nd. UBS Group raised their price target on shares of Lam Research from $885.00 to $1,130.00 and gave the stock a "buy" rating in a report on Tuesday, March 5th. Raymond James raised their price target on shares of Lam Research from $850.00 to $950.00 and gave the stock an "outperform" rating in a report on Thursday, January 25th. Finally, Mizuho raised their price target on shares of Lam Research from $900.00 to $935.00 and gave the stock a "buy" rating in a report on Thursday, January 25th. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, Lam Research currently has an average rating of "Moderate Buy" and an average price target of $875.55.

Lam Research Stock Down 5.3 %

The firm has a market cap of $119.60 billion, a P/E ratio of 37.25, a price-to-earnings-growth ratio of 3.43 and a beta of 1.51. The stock's 50 day simple moving average is $944.50 and its 200 day simple moving average is $796.73. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 EPS for the quarter, beating analysts' consensus estimates of $7.06 by $0.46. The business had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.71 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. Lam Research's quarterly revenue was down 28.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $10.71 EPS. Research analysts anticipate that Lam Research Co. will post 28.9 EPS for the current year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Tuesday, March 12th. Lam Research's dividend payout ratio is 30.94%.

Insiders Place Their Bets

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the business's stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $922.41, for a total value 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 approximately $20,380,648.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Christina Corrreia sold 647 shares of the business's stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the sale, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the business's stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the sale, the senior vice president now owns 22,095 shares in the company, valued at $20,380,648.95. The disclosure for this sale can be found here. Insiders have sold 7,029 shares of company stock valued at $6,559,489 in the last three months. 0.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lam Research

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Whale Capital LLP increased its position in shares of Lam Research by 0.7% during the third quarter. Blue Whale Capital LLP now owns 112,300 shares of the semiconductor company's stock valued at $70,386,000 after buying an additional 800 shares during the period. Everence Capital Management Inc. increased its position in shares of Lam Research by 54.7% during the fourth quarter. Everence Capital Management Inc. now owns 4,073 shares of the semiconductor company's stock valued at $3,190,000 after buying an additional 1,440 shares during the period. Gradient Investments LLC increased its position in shares of Lam Research by 32,411.1% during the fourth quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company's stock valued at $11,459,000 after buying an additional 14,585 shares during the period. Contravisory Investment Management Inc. bought a new stake in shares of Lam Research during the fourth quarter valued at about $7,930,000. Finally, Treasurer of the State of North Carolina increased its position in shares of Lam Research by 0.9% during the third quarter. Treasurer of the State of North Carolina now owns 63,809 shares of the semiconductor company's stock valued at $39,994,000 after buying an additional 560 shares during the period. 84.61% of the stock is currently owned by institutional investors.

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.