Lam Research (NASDAQ:LRCX) Trading 3.2% Higher – Time to Buy?

Shares of Lam Research Co. (NASDAQ:LRCX) shot up 3.2% on Monday . The company traded as high as $86.30 and last traded at $85.57. 2,012,349 shares were traded during trading, a decline of 82% from the average session volume of 10,917,576 shares. The stock had previously closed at $82.89.

Wall Street Analyst Weigh In

Several analysts recently issued reports on LRCX shares. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. B. Riley increased their price target on shares of Lam Research from $113.00 to $132.50 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Wells Fargo & Company cut their price objective on Lam Research from $1,000.00 to $880.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Mizuho decreased their price objective on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Finally, Cantor Fitzgerald dropped their price objective on shares of Lam Research from $120.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, September 30th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $141.28.

Lam Research Trading Down 2.9 %

The firm’s 50-day simple moving average is $95.12 and its 200 day simple moving average is $95.99. The stock has a market capitalization of $9.69 billion, a P/E ratio of 2.77, a PEG ratio of 1.75 and a beta of 1.47. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.05. The company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. Lam Research’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.60 earnings per share. Equities research analysts anticipate that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were paid a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.92 annualized dividend and a dividend yield of 1.24%. Lam Research’s payout ratio is 3.38%.

Insiders Place Their Bets

In other news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.32% of the company’s stock.

Institutional Trading of Lam Research

Large investors have recently made changes to their positions in the business. Greater Midwest Financial Group LLC bought a new stake in shares of Lam Research in the third quarter worth about $1,644,000. Carderock Capital Management Inc. boosted its stake in Lam Research by 3.3% in the 3rd quarter. Carderock Capital Management Inc. now owns 11,192 shares of the semiconductor company’s stock worth $9,134,000 after purchasing an additional 362 shares during the period. Vontobel Holding Ltd. boosted its position in shares of Lam Research by 38.4% during the third quarter. Vontobel Holding Ltd. now owns 120,736 shares of the semiconductor company’s stock worth $98,530,000 after buying an additional 33,489 shares during the period. Stillwater Capital Advisors LLC bought a new position in shares of Lam Research during the third quarter worth about $294,000. Finally, Jamison Private Wealth Management Inc. lifted its stake in Lam Research by 2,500.0% in the 3rd quarter. Jamison Private Wealth Management Inc. now owns 442 shares of the semiconductor company’s stock valued at $361,000 after acquiring an additional 425 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

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.