Lam Research (NASDAQ:LRCX) Shares Down 2.7% – Time to Sell?

Lam Research Co. (NASDAQ:LRCX)’s stock price traded down 2.7% during trading on Wednesday . The stock traded as low as $73.62 and last traded at $73.69. 1,651,537 shares were traded during mid-day trading, a decline of 85% from the average session volume of 11,209,188 shares. The stock had previously closed at $75.70.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. TD Cowen lifted their target price on shares of Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company decreased their target price on Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Citigroup reduced their price target on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research report on Monday, September 16th. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Finally, B. Riley cut their price objective on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and an average price target of $97.03.

Lam Research Stock Performance

The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The stock has a 50 day simple moving average of $77.37 and a 200 day simple moving average of $88.21. The company has a market capitalization of $96.23 billion, a price-to-earnings ratio of 24.17, a P/E/G ratio of 1.17 and a beta of 1.48.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The company 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 50.60% and a net margin of 26.02%. The firm’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.85 EPS. As a group, analysts anticipate that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be given a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.23%. Lam Research’s dividend payout ratio (DPR) is 29.74%.

Insider Activity

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 completion of the sale, the chief accounting officer now directly owns 4,267 shares in the company, valued at $3,488,315.17. The trade was a 13.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LRCX. CarsonAllaria Wealth Management Ltd. bought a new stake in Lam Research in the 2nd quarter valued at $32,000. RFP Financial Group LLC lifted its position in Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after buying an additional 12 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of Lam Research in the second quarter valued at approximately $40,000. Country Trust Bank bought a new stake in shares of Lam Research during the second quarter worth $43,000. Finally, MFA Wealth Advisors LLC acquired a new position in Lam Research during the 2nd quarter valued at about $45,000. 84.61% of the stock is owned by institutional investors.

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.