Investors Buy Shares of Lam Research Corporation (LRCX) on Weakness

Traders purchased shares of Lam Research Corporation (NASDAQ:LRCX) on weakness during trading hours on Tuesday. $108.54 million flowed into the stock on the tick-up and $73.89 million flowed out of the stock on the tick-down, for a money net flow of $34.65 million into the stock. Of all stocks tracked, Lam Research Corporation had the 16th highest net in-flow for the day. Lam Research Corporation traded down ($0.19) for the day and closed at $177.12

Several analysts have commented on LRCX shares. Stifel Nicolaus reiterated a “buy” rating and set a $189.00 target price (up from $170.00) on shares of Lam Research Corporation in a research note on Monday, June 19th. Needham & Company LLC increased their price target on Lam Research Corporation from $165.00 to $175.00 and gave the company a “buy” rating in a report on Friday, June 16th. BidaskClub cut Lam Research Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. UBS AG reissued a “buy” rating and set a $190.00 price target on shares of Lam Research Corporation in a report on Tuesday, June 13th. Finally, Bank of America Corporation reissued a “buy” rating and set a $195.00 price target (up from $165.00) on shares of Lam Research Corporation in a report on Sunday, June 11th. Four research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $177.68.

The company’s 50 day moving average price is $162.21 and its 200-day moving average price is $148.80. The firm has a market cap of $28.11 billion, a price-to-earnings ratio of 18.73 and a beta of 1.47.

Lam Research Corporation (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.09. Lam Research Corporation had a net margin of 21.19% and a return on equity of 26.78%. The firm had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the firm earned $1.80 EPS. The company’s revenue for the quarter was up 51.6% on a year-over-year basis. Equities analysts predict that Lam Research Corporation will post $12.75 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be given a dividend of $0.45 per share. The ex-dividend date is Tuesday, September 12th. This represents a $1.80 annualized dividend and a dividend yield of 1.04%. Lam Research Corporation’s dividend payout ratio (DPR) is presently 19.57%.

In related news, Director Stephen G. Newberry sold 750 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $175.00, for a total transaction of $131,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Timothy Archer sold 6,897 shares of the company’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $160.50, for a total transaction of $1,106,968.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,726 shares of company stock valued at $6,086,357. Insiders own 0.46% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in LRCX. Stephens Inc. AR raised its position in shares of Lam Research Corporation by 6.8% during the 1st quarter. Stephens Inc. AR now owns 849 shares of the semiconductor company’s stock worth $109,000 after purchasing an additional 54 shares during the last quarter. Odey Holdings AG raised its position in shares of Lam Research Corporation by 9.9% during the 2nd quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock worth $115,000 after purchasing an additional 73 shares during the last quarter. BDO Wealth Advisors LLC acquired a new position in shares of Lam Research Corporation during the 2nd quarter worth about $118,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Lam Research Corporation during the 2nd quarter worth about $134,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. raised its position in shares of Lam Research Corporation by 358.3% during the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,100 shares of the semiconductor company’s stock worth $156,000 after purchasing an additional 860 shares during the last quarter. Hedge funds and other institutional investors own 93.96% of the company’s stock.

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About Lam Research Corporation

Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.

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