Lam Research (NASDAQ:LRCX) Shares Down 6.2% – What’s Next?

Lam Research Co. (NASDAQ:LRCX) shares traded down 6.2% during mid-day trading on Tuesday . The company traded as low as $79.48 and last traded at $80.38. 4,647,189 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 10,916,935 shares. The stock had previously closed at $85.70.

Analyst Ratings Changes

LRCX has been the topic of a number of analyst reports. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday. Mizuho dropped their target price on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, September 20th. TD Cowen upped their price target on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. B. Riley lifted their price objective on Lam Research from $113.00 to $132.50 and gave the company a “buy” rating in a report on Thursday, June 20th. Finally, Morgan Stanley lowered their target price on shares of Lam Research from $92.90 to $77.40 and set an “equal weight” rating on the stock in a report on Tuesday, September 17th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.28.

Lam Research Trading Down 11.1 %

The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. The stock has a market capitalization of $9.96 billion, a P/E ratio of 2.88, a PEG ratio of 1.75 and a beta of 1.47. The business’s 50 day simple moving average is $95.13 and its 200-day simple moving average is $96.14.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.05. The company had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.60 EPS. As a group, analysts forecast that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were paid a $0.23 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.92 dividend on an annualized basis and a yield of 1.21%. Lam Research’s payout ratio is 3.38%.

Insiders Place Their Bets

In other news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the transaction, the chief accounting officer now owns 4,267 shares in the company, valued at $3,488,315.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Lam Research

Institutional investors have recently bought and sold shares of the company. Swedbank AB acquired a new stake in shares of Lam Research in the first quarter valued at approximately $192,668,000. Van ECK Associates Corp grew its position in Lam Research by 24.6% in the first 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 in the last quarter. Vanguard Group Inc. increased its stake in Lam Research by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after buying an additional 144,914 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Lam Research by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock worth $2,875,023,000 after buying an additional 142,903 shares in the last quarter. Finally, Natixis boosted its stake in shares of Lam Research by 1,267.1% during the 1st quarter. Natixis now owns 142,967 shares of the semiconductor company’s stock worth $138,902,000 after buying an additional 132,509 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

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.