Lam Research Corp. (NASDAQ:LRCX) CFO Douglas R. Bettinger sold 9,956 shares of the firm’s stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $106.88, for a total transaction of $1,064,097.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Lam Research Corp. (NASDAQ:LRCX) opened at 106.77 on Tuesday. The firm has a market cap of $17.39 billion, a P/E ratio of 21.19 and a beta of 1.49. The company has a 50-day moving average price of $99.65 and a 200-day moving average price of $90.97. Lam Research Corp. has a 12-month low of $63.10 and a 12-month high of $108.04.

Lam Research Corp. (NASDAQ:LRCX) last posted its earnings results on Wednesday, October 19th. The company reported $1.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.03. The company earned $1.63 billion during the quarter, compared to analyst estimates of $1.63 billion. Lam Research Corp. had a return on equity of 18.43% and a net margin of 15.02%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.82 EPS. On average, analysts predict that Lam Research Corp. will post $8.28 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 4th. Stockholders of record on Wednesday, December 14th will be given a dividend of $0.45 per share. This is a positive change from Lam Research Corp.’s previous quarterly dividend of $0.30. This represents a $1.80 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Monday, December 12th. Lam Research Corp.’s payout ratio is presently 23.86%.

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Several equities analysts have recently weighed in on LRCX shares. B. Riley restated a “buy” rating and set a $106.00 price objective on shares of Lam Research Corp. in a research report on Tuesday, August 2nd. Needham & Company LLC restated a “buy” rating and set a $105.00 price objective on shares of Lam Research Corp. in a research report on Tuesday, September 20th. DA Davidson restated a “buy” rating and set a $110.00 price objective on shares of Lam Research Corp. in a research report on Monday, August 15th. Credit Suisse Group AG restated a “buy” rating and set a $100.00 price objective on shares of Lam Research Corp. in a research report on Sunday, August 14th. Finally, Citigroup Inc. reduced their price objective on shares of Lam Research Corp. from $105.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, August 12th. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $106.35.

Several institutional investors have recently bought and sold shares of the company. Piedmont Investment Advisors LLC bought a new position in Lam Research Corp. during the third quarter valued at about $3,660,000. Scout Investments Inc. raised its position in Lam Research Corp. by 17.1% in the third quarter. Scout Investments Inc. now owns 243,730 shares of the company’s stock valued at $23,084,000 after buying an additional 35,639 shares during the last quarter. J.P. Marvel Investment Advisors LLC raised its position in Lam Research Corp. by 75.4% in the third quarter. J.P. Marvel Investment Advisors LLC now owns 22,310 shares of the company’s stock valued at $2,113,000 after buying an additional 9,590 shares during the last quarter. Marvin & Palmer Associates Inc. bought a new position in Lam Research Corp. during the third quarter valued at about $2,281,000. Finally, Cornerstone Capital Management Holdings LLC. raised its position in Lam Research Corp. by 148.3% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 349,257 shares of the company’s stock valued at $33,077,000 after buying an additional 208,579 shares during the last quarter.

Lam Research Corp. 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.

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