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

Traders bought shares of Lam Research Corporation (NASDAQ:LRCX) on weakness during trading hours on Friday. $124.87 million flowed into the stock on the tick-up and $92.36 million flowed out of the stock on the tick-down, for a money net flow of $32.51 million into the stock. Of all equities tracked, Lam Research Corporation had the 18th highest net in-flow for the day. Lam Research Corporation traded down ($3.16) for the day and closed at $161.60

LRCX has been the topic of a number of analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $165.00 target price (up previously from $145.00) on shares of Lam Research Corporation in a report on Saturday, April 22nd. Deutsche Bank AG increased their target price on Lam Research Corporation from $135.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, April 19th. Citigroup Inc. reiterated a “buy” rating and set a $200.00 target price on shares of Lam Research Corporation in a report on Wednesday, May 17th. Goldman Sachs Group, Inc. (The) cut Lam Research Corporation from a “conviction-buy” rating to a “buy” rating and increased their target price for the company from $153.00 to $160.00 in a report on Monday, May 8th. They noted that the move was a valuation call. Finally, B. Riley reiterated a “buy” rating and set a $175.00 target price on shares of Lam Research Corporation in a report on Monday, April 24th. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Lam Research Corporation currently has a consensus rating of “Buy” and a consensus price target of $172.41.

The company has a market cap of $25.20 billion, a P/E ratio of 16.87 and a beta of 1.46. The company’s 50-day moving average is $153.65 and its 200-day moving average is $137.56.

Lam Research Corporation (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share (EPS) for the quarter, beating 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 26.95%. The business had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the previous year, the business earned $1.80 EPS. Lam Research Corporation’s quarterly revenue was up 51.6% compared to the same quarter last year. On average, equities research analysts anticipate that Lam Research Corporation will post $12.71 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.16%. Lam Research Corporation’s payout ratio is presently 19.57%.

In other Lam Research Corporation news, insider Patrick J. Lord sold 2,770 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $155.35, for a total transaction of $430,319.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen G. Newberry sold 20,047 shares of the business’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $150.01, for a total transaction of $3,007,250.47. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,656 shares of company stock valued at $7,925,366. 0.46% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LRCX. Stephens Inc. AR raised its position in Lam Research Corporation by 6.8% in the first quarter. Stephens Inc. AR now owns 849 shares of the semiconductor company’s stock worth $109,000 after buying an additional 54 shares in the last quarter. IFP Advisors Inc raised its position in Lam Research Corporation by 2.7% in the first quarter. IFP Advisors Inc now owns 850 shares of the semiconductor company’s stock worth $109,000 after buying an additional 22 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Lam Research Corporation during the second quarter worth $134,000. Huntington National Bank raised its position in Lam Research Corporation by 82.1% in the first quarter. Huntington National Bank now owns 1,118 shares of the semiconductor company’s stock worth $144,000 after buying an additional 504 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its position in Lam Research Corporation by 0.3% in the first quarter. Quadrant Capital Group LLC now owns 1,332 shares of the semiconductor company’s stock worth $168,000 after buying an additional 4 shares in the last quarter. 98.98% of the stock is owned by hedge funds and other institutional investors.

Lam Research Corporation Company Profile

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.