Lam Research Co. (NASDAQ:LRCX) Declares Quarterly Dividend of $1.15

Lam Research Co. (NASDAQ:LRCX) announced a quarterly dividend on Thursday, November 7th, Zacks reports. Investors of record on Wednesday, December 11th will be given a dividend of 1.15 per share by the semiconductor company on Wednesday, January 8th. This represents a $4.60 annualized dividend and a yield of 1.70%. The ex-dividend date is Tuesday, December 10th.

Shares of Lam Research stock opened at $269.86 on Friday. The firm has a market capitalization of $38.42 billion, a P/E ratio of 18.55, a P/E/G ratio of 1.28 and a beta of 1.64. Lam Research has a 52 week low of $122.64 and a 52 week high of $285.87. The company has a quick ratio of 2.99, a current ratio of 3.59 and a debt-to-equity ratio of 0.76. The firm’s 50 day moving average is $266.58 and its two-hundred day moving average is $219.87.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $3.18 earnings per share for the quarter, topping analysts’ consensus estimates of $3.01 by $0.17. Lam Research had a net margin of 22.38% and a return on equity of 43.11%. The company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same quarter last year, the company earned $3.36 earnings per share. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. As a group, research analysts expect that Lam Research will post 15.21 earnings per share for the current fiscal year.

LRCX has been the topic of several research analyst reports. DA Davidson lifted their price target on shares of Lam Research to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. B. Riley boosted their price target on shares of Lam Research from $240.00 to $280.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Wells Fargo & Co upgraded shares of Lam Research to a “market perform” rating and upped their price objective for the company from $200.00 to $235.00 in a research note on Thursday, September 19th. Zacks Investment Research lowered Lam Research from a “buy” rating to a “hold” rating and set a $273.00 price objective on the stock. in a report on Monday, October 14th. Finally, UBS Group cut Lam Research from a “neutral” rating to a “sell” rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the company’s stock. Lam Research presently has a consensus rating of “Hold” and an average target price of $260.50.

In other Lam Research news, CFO Douglas R. Bettinger sold 18,693 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $279.03, for a total transaction of $5,215,907.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Sarah A. O’dowd sold 22,140 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $233.77, for a total value of $5,175,667.80. The disclosure for this sale can be found here. Insiders have sold a total of 69,454 shares of company stock worth $17,570,625 over the last three months. 0.43% of the stock is currently owned by insiders.

About Lam Research

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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Dividend History for Lam Research (NASDAQ:LRCX)

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