Senior Vice President of Lam Research Co. (NASDAQ: LRCX) Scott Gerald Meikle sold 500 shares of the company in a transaction that took place on Wednesday, September 15. The shares were sold for an average price of $ 603.79, for a total value of $ 301,895.00. The transaction was disclosed in a legal file with the Securities & Exchange Commission, accessible via this link.
NASDAQ LRCX traded at $ 3.99 on Thursday, reaching $ 615.49. 78,665 shares of the stock were traded, compared to its average volume of 1,446,413. The company has a current ratio of 3.30, a quick ratio of 2.54 and a debt ratio of 0.83 . The stock has a 50-day moving average of $ 609.53 and a 200-day moving average of $ 610.74. Lam Research Co. has a twelve month low of $ 296.17 and a twelve month high of $ 673.80. The company has a market cap of $ 87.37 billion, a P / E ratio of 22.70, a price / earnings-growth ratio of 1.05, and a beta of 1.24.
Lam Research (NASDAQ: LRCX) last released its quarterly results on Wednesday, July 28. The semiconductor company reported earnings of $ 8.09 per share for the quarter, beating Zacks’ consensus estimate of $ 7.53 by $ 0.56. Lam Research reported a return on equity of 70.92% and a net margin of 26.72%. The company posted revenue of $ 4.15 billion in the quarter, compared to a consensus estimate of $ 4 billion. During the same period of the previous year, the company earned $ 4.78 per share. As a group, equity research analysts expect Lam Research Co. to post earnings per share of 33.45 for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 13. Shareholders of record on Tuesday, September 28 will receive a dividend of $ 1.50 per share. This represents a dividend of $ 6.00 on an annualized basis and a dividend yield of 0.97%. This is a boost from Lam Research’s previous quarterly dividend of $ 1.30. The ex-dividend date is Monday, September 27. Lam Research’s dividend payout ratio is 19.09%.
Several institutional investors have recently bought and sold shares of LRCX. Gemmer Asset Management LLC increased its equity stake in Lam Research by 39.0% in the 2nd quarter. Gemmer Asset Management LLC now owns 57 shares of the semiconductor company valued at $ 37,000 after purchasing an additional 16 shares in the last quarter. Connable Office Inc. increased its position in Lam Research by 0.5% in the second quarter. Connable Office Inc. now owns 3,410 shares of the semiconductor company valued at $ 2,219,000 after purchasing 16 additional shares during the period. Ameritas Investment Partners Inc. increased its stake in Lam Research by 0.3% in the second quarter. Ameritas Investment Partners Inc. now owns 4,996 shares of the semiconductor company valued at $ 3,250,000 after purchasing 16 additional shares in the last quarter. Clarius Group LLC increased its stake in Lam Research by 1.3% in the second quarter. Clarius Group LLC now owns 1,372 shares of the semiconductor company valued at $ 893,000 after purchasing 17 more shares in the last quarter. Finally, Resources Management Corp CT ADV increased its holdings in Lam Research shares by 0.6% during the second quarter. Resources Management Corp CT ADV now owns 2,818 shares of the semiconductor company valued at $ 1,834,000 after acquiring 17 additional shares during the period. Institutional investors hold 81.32% of the shares of the company.
A number of analysts recently commented on the company. Wells Fargo & Company reduced its price target on Lam Research from $ 690.00 to $ 660.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 29. Needham & Company LLC reaffirmed a “custody” note of Lam Research shares in a research note on Thursday, July 29. Stifel Nicolaus reissued a “buy” note and issued a price target of $ 790.00 on Lam Research shares in a research report on Friday, September 10. UBS Group raised its target price for Lam Research shares from $ 745.00 to $ 750.00 and gave the stock a “buy” rating in a research report on Thursday, July 29. Ultimately, Zacks investment research downgraded Lam Research shares from a “buy” rating to a “keep” rating and set a target price of $ 653.00 for the company. in a research note on Wednesday 23 June. Nine equity research analysts rated the stock with a conservation rating and fifteen gave the company’s stock a buy rating. According to MarketBeat.com, Lam Research currently has an average rating of “Buy” and an average target price of $ 704.35.
About Lam Research
Lam Research Corp. is engaged in the manufacture and maintenance of semiconductor manufacturing equipment for wafer processing. It operates through the following geographic segments: the United States, China, Europe, Japan, Korea, Southeast Asia and Taiwan. It offers thin film deposition, plasma etching, photosensitive resin strip and wafer cleaning.
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