Insider Selling: Lam Research Co. (NASDAQ:LRCX) EVP Sells 60 Shares of Stock

Lam Research Co. (NASDAQ:LRCX) EVP Patrick J. Lord sold 60 shares of Lam Research stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $921.54, for a total value of $55,292.40. Following the completion of the sale, the executive vice president now owns 4,454 shares in the company, valued at $4,104,539.16. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Lam Research Price Performance

Shares of NASDAQ:LRCX traded down $26.07 during mid-day trading on Tuesday, reaching $902.74. The stock had a trading volume of 267,350 shares, compared to its average volume of 1,063,559. The company has a current ratio of 2.82, a quick ratio of 1.84 and a debt-to-equity ratio of 0.56. The company has a market cap of $118.35 billion, a P/E ratio of 34.16, a price-to-earnings-growth ratio of 2.88 and a beta of 1.51. Lam Research Co. has a 1 year low of $507.19 and a 1 year high of $1,007.39. The business’s 50 day moving average price is $943.72 and its 200 day moving average price is $813.44.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53. The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.72 billion. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the business earned $6.99 earnings per share. Research analysts expect that Lam Research Co. will post 29.54 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Tuesday, March 12th. Lam Research’s dividend payout ratio is currently 29.42%.

Institutional Trading of Lam Research

Institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Lam Research in the fourth quarter valued at $1,414,111,000. International Assets Investment Management LLC raised its position in Lam Research by 76,165.7% in the 4th quarter. International Assets Investment Management LLC now owns 318,028 shares of the semiconductor company’s stock worth $249,099,000 after purchasing an additional 317,611 shares during the period. Cerity Partners LLC lifted its stake in Lam Research by 1,125.6% in the fourth quarter. Cerity Partners LLC now owns 342,139 shares of the semiconductor company’s stock worth $267,984,000 after purchasing an additional 314,224 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Lam Research by 10.8% during the third quarter. Bank of New York Mellon Corp now owns 1,642,367 shares of the semiconductor company’s stock valued at $1,029,386,000 after buying an additional 159,815 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Lam Research by 106.5% in the third quarter. Canada Pension Plan Investment Board now owns 301,071 shares of the semiconductor company’s stock worth $188,702,000 after buying an additional 155,240 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LRCX has been the subject of a number of recent research reports. Citigroup lifted their price objective on Lam Research from $975.00 to $1,025.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Raymond James boosted their price target on Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. UBS Group lifted their price objective on Lam Research from $1,130.00 to $1,150.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft assumed coverage on Lam Research in a report on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 price objective for the company. Finally, The Goldman Sachs Group lifted their price objective on Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $950.85.

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.