Lam Research (NASDAQ:LRCX) Stock Price Down 0.9% – What’s Next?

Shares of Lam Research Co. (NASDAQ:LRCX) were down 0.9% during mid-day trading on Monday . The company traded as low as $76.70 and last traded at $76.97. Approximately 1,971,078 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 11,246,845 shares. The stock had previously closed at $77.68.

Analyst Ratings Changes

Several analysts have weighed in on the company. TD Cowen lifted their price objective on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Mizuho dropped their target price on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Morgan Stanley lowered their price target on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. Finally, UBS Group dropped their price target on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $97.03.

Lam Research Price Performance

The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. The firm has a 50 day moving average of $78.79 and a 200-day moving average of $89.37. The company has a market cap of $10.24 billion, a P/E ratio of 2.88, a P/E/G ratio of 1.89 and a beta of 1.47.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.05. The business had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 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 19.7% on a year-over-year basis. During the same period last year, the company earned $6.85 EPS. On average, equities research analysts predict that Lam Research Co. will post 3.23 EPS for the current year.

Lam Research Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.17%. Lam Research’s dividend payout ratio is 3.38%.

Insider Buying and Selling at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were 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 of the company’s stock, valued at approximately $3,488,315.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lam Research

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. CarsonAllaria Wealth Management Ltd. acquired a new position in Lam Research during the 2nd quarter valued at about $32,000. RFP Financial Group LLC boosted its stake in Lam Research by 52.2% in the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 12 shares in the last quarter. Hobbs Group Advisors LLC purchased a new stake in Lam Research during the 2nd quarter worth approximately $40,000. Country Trust Bank acquired a new position in Lam Research during the 2nd quarter valued at approximately $43,000. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of Lam Research during the second quarter worth $45,000. 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.