A number of other equities analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Heritage Insurance from a hold rating to a strong sell rating in a report on Friday, April 26th. Wells Fargo & Co set a $45.00 price objective on shares of Perrigo and gave the stock a hold rating in a report on Wednesday, June 19th. Mizuho raised their target price on shares of Facebook from $210.00 to $230.00 and gave the stock a buy rating in a research note on Thursday, April 25th. KeyCorp restated a hold rating on shares of Packaging Corp Of America in a research note on Thursday, April 25th. Finally, B. Riley set a $33.00 target price on shares of Triumph Bancorp and gave the stock a buy rating in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $222.41.
NASDAQ LRCX traded up $0.24 during trading on Friday, hitting $198.47. The company had a trading volume of 1,531,676 shares, compared to its average volume of 1,664,448. The firm has a market capitalization of $29.76 billion, a P/E ratio of 11.11, a price-to-earnings-growth ratio of 1.15 and a beta of 1.59. The company has a current ratio of 3.37, a quick ratio of 2.79 and a debt-to-equity ratio of 0.71. Lam Research has a one year low of $122.64 and a one year high of $209.50. The stock has a fifty day simple moving average of $184.25.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Wednesday, June 12th were paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend was Tuesday, June 11th. Lam Research’s payout ratio is 24.62%.
In other news, insider Richard A. Gottscho sold 7,248 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $209.26, for a total transaction of $1,516,716.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Abhijit Y. Talwalkar sold 3,988 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $203.00, for a total transaction of $809,564.00. The disclosure for this sale can be found here. Insiders have sold 13,391 shares of company stock valued at $2,776,675 over the last ninety days. 0.44% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Davy Asset Management Ltd acquired a new position in Lam Research in the 2nd quarter valued at $249,000. Hanseatic Management Services Inc. acquired a new stake in shares of Lam Research in the 2nd quarter worth $47,000. Robeco Institutional Asset Management B.V. increased its stake in shares of Lam Research by 19.5% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 282,806 shares of the semiconductor company’s stock worth $53,124,000 after acquiring an additional 46,100 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of Lam Research by 55.0% in the 2nd quarter. Bessemer Group Inc. now owns 1,597 shares of the semiconductor company’s stock worth $300,000 after acquiring an additional 567 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its stake in shares of Lam Research by 7.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 16,963 shares of the semiconductor company’s stock worth $3,186,000 after acquiring an additional 1,141 shares during the last quarter. 86.41% of the stock is owned by hedge funds and other 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 worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.
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