Investors Purchase High Volume of Lam Research Call Options (NASDAQ:LRCX)

Lam Research Co. (NASDAQ:LRCX) saw unusually large options trading on Monday. Investors purchased 34,219 call options on the company. This represents an increase of approximately 12% compared to the average volume of 30,525 call options.

Insider Transactions at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the transaction, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This represents a 13.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LRCX. Synovus Financial Corp lifted its holdings in Lam Research by 22.4% during the third quarter. Synovus Financial Corp now owns 3,071 shares of the semiconductor company’s stock worth $2,508,000 after acquiring an additional 561 shares during the period. Tidal Investments LLC lifted its holdings in Lam Research by 409.6% during the third quarter. Tidal Investments LLC now owns 37,420 shares of the semiconductor company’s stock worth $30,538,000 after acquiring an additional 30,077 shares during the period. Wilmington Savings Fund Society FSB lifted its holdings in Lam Research by 383.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 4,547 shares of the semiconductor company’s stock worth $3,711,000 after acquiring an additional 3,607 shares during the period. Arvest Bank Trust Division bought a new stake in Lam Research during the third quarter worth $18,106,000. Finally, Sanctuary Advisors LLC raised its stake in shares of Lam Research by 838.7% in the third quarter. Sanctuary Advisors LLC now owns 159,913 shares of the semiconductor company’s stock valued at $130,502,000 after buying an additional 142,878 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Up 3.2 %

Lam Research stock traded up $2.31 during mid-day trading on Monday, reaching $73.88. The stock had a trading volume of 10,736,454 shares, compared to its average volume of 11,230,302. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. Lam Research has a fifty-two week low of $68.72 and a fifty-two week high of $113.00. The stock’s 50-day simple moving average is $76.52 and its 200-day simple moving average is $86.64. The firm has a market capitalization of $95.06 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 1.17 and a beta of 1.48.

Lam Research (NASDAQ:LRCX) last announced its earnings results 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 company had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. Lam Research’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.85 earnings per share. On average, sell-side analysts forecast that Lam Research will post 3.52 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.25%. Lam Research’s payout ratio is 29.74%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on LRCX shares. Wells Fargo & Company decreased their price objective on Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. BNP Paribas raised Lam Research to a “hold” rating in a research note on Thursday, October 24th. B. Riley reduced their price objective on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Morgan Stanley reduced their price objective on Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Mizuho reduced their price objective on Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and an average price target of $97.29.

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.