Lam Research (NASDAQ:LRCX) Shares Set to Split on Thursday, October 3rd

Shares of Lam Research Co. (NASDAQ:LRCX) are set to split on the morning of Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly issued shares will be issued to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research Price Performance

NASDAQ LRCX opened at $816.08 on Tuesday. The company has a 50-day moving average price of $814.61 and a two-hundred day moving average price of $919.39. The stock has a market cap of $106.70 billion, a price-to-earnings ratio of 30.01, a price-to-earnings-growth ratio of 1.51 and a beta of 1.48. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. Lam Research has a 52 week low of $574.42 and a 52 week high of $1,130.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.58 by $0.56. The company 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 firm’s quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.98 EPS. Analysts forecast that Lam Research will post 35.2 EPS for the current year.

Lam Research Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.13%. This is a boost from Lam Research’s previous quarterly dividend of $2.00. The ex-dividend date is Tuesday, September 17th. Lam Research’s payout ratio is presently 33.84%.

Analyst Ratings Changes

A number of analysts have recently issued reports on LRCX shares. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a report on Friday, July 26th. UBS Group decreased their price objective on Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Cantor Fitzgerald lowered their target price on Lam Research from $1,200.00 to $1,000.00 and set a “neutral” rating on the stock in a research note on Monday. Citigroup reduced their price target on shares of Lam Research from $990.00 to $893.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Lam Research from $1,100.00 to $950.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.32.

Insider Buying and Selling at Lam Research

In other news, SVP Neil J. Fernandes sold 1,620 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $1,056.99, for a total transaction of $1,712,323.80. Following the transaction, the senior vice president now owns 5,237 shares in the company, valued at $5,535,456.63. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.32% of the company’s stock.

Institutional Trading of Lam Research

Several large investors have recently modified their holdings of LRCX. Symmetry Investments LP bought a new stake in Lam Research during the second quarter worth $3,229,000. Cypress Capital Group boosted its stake in Lam Research by 23.1% in the second quarter. Cypress Capital Group now owns 3,528 shares of the semiconductor company’s stock valued at $3,757,000 after buying an additional 661 shares in the last quarter. Albar Capital Ltd bought a new position in Lam Research in the second quarter valued at about $3,123,000. Meeder Advisory Services Inc. raised its stake in Lam Research by 29.4% during the second quarter. Meeder Advisory Services Inc. now owns 3,022 shares of the semiconductor company’s stock worth $3,218,000 after acquiring an additional 686 shares in the last quarter. Finally, Tairen Capital Ltd lifted its holdings in shares of Lam Research by 199.5% in the second quarter. Tairen Capital Ltd now owns 163,605 shares of the semiconductor company’s stock worth $174,215,000 after acquiring an additional 108,973 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Company Profile

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.