Lam Research Co. (NASDAQ:LRCX) Short Interest Update

Lam Research Co. (NASDAQ:LRCX – Get Free Report ) was the beneficiary of a large increase in short interest during the month of August. As of August 15th, there was short interest totaling 2,400,000 shares, an increase of 14.3% from the July 31st total of 2,100,000 shares. Based on an average trading volume of 1,140,000 shares, the days-to-cover ratio is currently 2.1 days. Currently, 1.8% of the company’s shares are short sold.

Changes in Analyst Ratings

A number of equities research analysts have weighed in on LRCX shares. StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Citigroup decreased their price objective on Lam Research from $1,025.00 to $990.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. Wells Fargo & Company cut their price target on shares of Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. B. Riley boosted their price target on Lam Research from $1,130.00 to $1,325.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $1,130.00 price objective on shares of Lam Research in a research report on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,006.10, based on data from MarketBeat.com.

Read the latest stock report on Lam Research

Lam Research Stock Performance

LRCX opened at $821.01 on Monday. The company has a market cap of $107.34 billion, a PE ratio of 30.20, a price-to-earnings-growth ratio of 1.58 and a beta of 1.48. Lam Research has a 1 year low of $574.42 and a 1 year high of $1,130.00. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97, and a quick ratio of 2.00. The company has a fifty day simple moving average of $929.97 and a 200 day simple moving average of $943.74.

Shares of Lam Research will be split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21. The newly created shares will be distributed to shareholders after the closing bell on Wednesday, October 2.

Lam Research (NASDAQ:LRCX – Get Free Report ) last issued its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.58 by $0.56. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.82 billion. In the same quarter last year, the company posted earnings of $5.98 per share. The company’s revenue was up 20.7% compared to the same quarter last year. research analysts expect that Lam Research will post 35.2 EPS for the current year.

Lam Research Increases Dividends

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be issued a dividend of $2.30 per share. This represents a dividend of $9.20 on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Tuesday, September 17th. This is a positive change from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s payout ratio is 33.84%.

Lam Research declared that its Board of Directors has initiated a stock repurchase program on Tuesday, May 21st that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 8.1% of its shares through open market purchases. Stock buyback programs are often an indication that company management believes its stock is undervalued.

Insiders place their bets

In other news, CAO Christina Correia sold 647 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $1,062.26, for a total value of $687,282.22. Following the completion of the sale, the chief accounting officer now directly owns 4,914 shares of the company’s stock, valued at $5,219,945.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. In other Lam Research news, CEO Timothy Archer sold 9,650 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $1,070.39, for a total transaction of $10,329,263.50. Following the transaction, the chief executive officer now directly owns 84,639 shares in the company, valued at $90,596,739.21. The transaction was disclosed in a filing with the SEC, which is available via this link. Also, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total value of $687,282.22. Following the sale, the chief accounting officer now owns 4,914 shares of the company’s stock, valued at approximately $5,219,945.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,326 shares of company stock worth $17,383,715. 0.32% of shares are currently owned by company insiders.

Institutional inputs and outputs

Hedge funds and other institutional investors have recently bought and sold shares of the stock. DSM Capital Partners LLC acquired a new stake in Lam Research in the 4th quarter valued at approximately $28,000. CarsonAllaria Wealth Management Ltd. bought a new stake in Lam Research in the second quarter valued at $32,000. Partnership Wealth Management LLC acquired a new stake in Lam Research in the 4th quarter valued at approximately $33,000. RFP Financial Group LLC boosted its position in shares of Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 12 shares during the last quarter. Finally, Atlantic Edge Private Wealth Management LLC bought a new stake in Lam Research in the fourth quarter valued at approximately $39,000. 84.61% of shares are owned by institutional investors and hedge funds.

Lam Research Company Profile

(Get a free report)

Lam Research Corporation designs, manufactures, markets, refurbishes and services semiconductor processing equipment used in the manufacture of integrated circuits. The company offers ALTUS compliant foil deposition systems for tungsten metallization applications; SABER Electrochemical Deposition Products for the Copper Interconnect Transition offering Damascus Copper Fabrication; SOLA UV heat processing products for film treatments; and plasma-enhanced CVD ALD VECTOR products.

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