Lam Research (NASDAQ:LRCX) Stock Price Down 6.2% – What’s Next?

Lam Research Co. (NASDAQ:LRCX) shares traded down 6.2% during trading on Tuesday . The stock traded as low as $79.48 and last traded at $80.38. 4,647,189 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 10,916,935 shares. The stock had previously closed at $85.70.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. StockNews.com cut Lam Research from a “buy” rating to a “hold” rating in a research report on Friday. UBS Group lowered their target price on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Wells Fargo & Company lowered their target price on Lam Research from $1,000.00 to $880.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Citigroup lowered their target price on Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research report on Monday, September 16th. Finally, B. Riley raised their target price on Lam Research from $113.00 to $132.50 and gave the company a “buy” rating in a research report on Thursday, June 20th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $141.28.

Lam Research Trading Down 11.1 %

The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. The firm has a market cap of $9.96 billion, a price-to-earnings ratio of 2.88, a PEG ratio of 1.75 and a beta of 1.47. The company has a 50-day moving average price of $95.13 and a 200 day moving average price of $96.14.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.05. The firm had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period last year, the company posted $0.60 EPS. As a group, research analysts anticipate that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were given a $0.23 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.92 dividend on an annualized basis and a yield of 1.21%. Lam Research’s payout ratio is 3.38%.

Insider Activity

In related news, CAO Christina Correia sold 647 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the sale, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.32% of the stock is currently owned by corporate insiders.

Institutional Trading of Lam Research

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Lam Research by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock worth $11,519,576,000 after purchasing an additional 144,914 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Lam Research by 5.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock worth $2,875,023,000 after buying an additional 142,903 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Lam Research by 7.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock worth $1,335,522,000 after buying an additional 89,470 shares during the period. Van ECK Associates Corp grew its stake in Lam Research by 11.1% in the 2nd quarter. Van ECK Associates Corp now owns 1,075,893 shares of the semiconductor company’s stock valued at $1,145,664,000 after buying an additional 107,778 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Lam Research by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company’s stock worth $654,009,000 after acquiring an additional 25,362 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

About Lam Research

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.