Lam Research Co. (NASDAQ:LRCX) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 8,391,200 shares, a growth of 38.4% from the May 15th total of 6,064,100 shares. Currently, 5.5% of the company’s shares are sold short. Based on an average trading volume of 1,860,000 shares, the short-interest ratio is presently 4.5 days.
LRCX has been the topic of several research reports. Zacks Investment Research cut shares of Lam Research from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. KeyCorp boosted their price objective on shares of Lam Research from $223.00 to $236.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Needham & Company LLC boosted their price target on shares of Lam Research from $180.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. UBS Group boosted their price target on shares of Lam Research from $170.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Finally, Mizuho reissued a “hold” rating on shares of Lam Research in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company. Lam Research has an average rating of “Hold” and a consensus target price of $224.78.
In other news, insider Richard A. Gottscho sold 2,155 shares of Lam Research stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $209.00, for a total transaction of $450,395.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Abhijit Y. Talwalkar sold 3,988 shares of Lam Research stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $203.00, for a total transaction of $809,564.00. The disclosure for this sale can be found here. Insiders have sold a total of 17,379 shares of company stock valued at $3,554,335 in the last ninety days. Company insiders own 0.44% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Berman Capital Advisors LLC acquired a new position in Lam Research in the 4th quarter valued at about $26,000. Global Retirement Partners LLC grew its stake in Lam Research by 119.4% in the 1st quarter. Global Retirement Partners LLC now owns 147 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 80 shares during the last quarter. FTB Advisors Inc. grew its stake in Lam Research by 72.0% in the 4th quarter. FTB Advisors Inc. now owns 215 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 90 shares during the last quarter. Zions Bancorporation N.A. acquired a new position in Lam Research in the 1st quarter valued at about $28,000. Finally, Strategy Asset Managers LLC acquired a new position in Lam Research in the 1st quarter valued at about $33,000. Institutional investors own 86.51% of the company’s stock.
Shares of Lam Research stock traded up $5.46 during trading on Wednesday, hitting $181.28. 1,916,090 shares of the stock were exchanged, compared to its average volume of 2,271,921. The firm has a market cap of $26.93 billion, a PE ratio of 10.14, a price-to-earnings-growth ratio of 1.05 and a beta of 1.63. The stock has a fifty day moving average of $184.95. Lam Research has a 1-year low of $122.64 and a 1-year high of $209.50. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.37 and a quick ratio of 2.79.
Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $3.70 earnings per share for the quarter, topping the consensus estimate of $3.38 by $0.32. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. Lam Research had a net margin of 25.64% and a return on equity of 46.66%. Lam Research’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period in the previous year, the business earned $4.79 EPS. Equities research analysts expect that Lam Research will post 14.33 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Wednesday, June 12th will be paid a dividend of $1.10 per share. The ex-dividend date is Tuesday, June 11th. This represents a $4.40 annualized dividend and a dividend yield of 2.43%. Lam Research’s dividend payout ratio is presently 24.62%.
Lam Research Company Profile
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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