Lam Research (LRCX) Shares Gap Down to $150.25

Shares of Lam Research Co. (NASDAQ:LRCX) gapped down before the market opened on Thursday . The stock had previously closed at $152.45, but opened at $150.25. Lam Research shares last traded at $151.56, with a volume of 68816 shares.

LRCX has been the topic of a number of research analyst reports. BidaskClub downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, June 8th. Bank of America cut their target price on shares of Lam Research from $305.00 to $285.00 and set a “buy” rating for the company in a research report on Monday, June 11th. Royal Bank of Canada cut shares of Lam Research from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $245.00 to $210.00 in a research report on Wednesday, June 13th. Zacks Investment Research cut shares of Lam Research from a “hold” rating to a “sell” rating in a research report on Tuesday, June 19th. Finally, UBS Group upgraded shares of Lam Research from a “neutral” rating to a “buy” rating and set a $220.00 target price for the company in a research report on Tuesday, June 26th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $245.45.

The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.31 and a current ratio of 2.90. The stock has a market cap of $23.84 billion, a price-to-earnings ratio of 8.44, a P/E/G ratio of 0.58 and a beta of 1.33.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Thursday, July 26th. The semiconductor company reported $5.31 earnings per share for the quarter, beating analysts’ consensus estimates of $4.94 by $0.37. The business had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.08 billion. Lam Research had a net margin of 21.49% and a return on equity of 47.14%. The company’s revenue was up 33.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.11 earnings per share. research analysts anticipate that Lam Research Co. will post 15.51 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 26th. Stockholders of record on Wednesday, September 12th were given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend was Tuesday, September 11th. Lam Research’s dividend payout ratio is presently 24.62%.

Large investors have recently bought and sold shares of the company. NuWave Investment Management LLC acquired a new position in Lam Research during the second quarter worth approximately $100,000. Clear Perspective Advisors LLC acquired a new position in Lam Research during the second quarter worth approximately $108,000. Signet Financial Management LLC increased its position in Lam Research by 21,700.0% during the second quarter. Signet Financial Management LLC now owns 654 shares of the semiconductor company’s stock worth $113,000 after purchasing an additional 651 shares during the last quarter. Ruggie Capital Group acquired a new position in Lam Research during the second quarter worth approximately $134,000. Finally, Financial Gravity Wealth Inc. acquired a new position in Lam Research during the first quarter worth approximately $165,000. 89.15% of the stock is owned by institutional investors and hedge funds.

Lam Research Company Profile (NASDAQ:LRCX)

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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