Lam Research Co. Declares Quarterly Dividend of $0.23 (NASDAQ:LRCX)

Lam Research Co. (NASDAQ:LRCX) declared a quarterly dividend on Wednesday, February 5th, RTT News reports. Investors of record on Wednesday, March 5th will be paid a dividend of 0.23 per share by the semiconductor company on Wednesday, April 9th. This represents a $0.92 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Wednesday, March 5th.

Lam Research has raised its dividend payment by an average of 15.4% annually over the last three years. Lam Research has a payout ratio of 23.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Lam Research to earn $3.76 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 24.5%.

Lam Research Stock Up 0.7 %

LRCX opened at $76.70 on Monday. Lam Research has a 12 month low of $68.87 and a 12 month high of $113.00. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The business’s 50-day moving average price is $78.94 and its 200-day moving average price is $78.02. The company has a market cap of $98.45 billion, a P/E ratio of 23.30, a P/E/G ratio of 1.47 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. On average, equities analysts expect that Lam Research will post 3.71 EPS for the current year.

Analysts Set New Price Targets

LRCX has been the subject of several recent research reports. Barclays lowered their target price on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Wells Fargo & Company raised their price target on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and increased their target price for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. The Goldman Sachs Group cut their target price on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Finally, Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $98.22.

Insider Activity at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the transaction, the senior vice president now owns 179,084 shares in the company, valued at $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

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.