Lam Research Co. (NASDAQ:LRCX) was the target of a significant increase in short interest in November. As of November 30th, there was short interest totalling 14,258,325 shares, an increase of 27.6% from the November 15th total of 11,177,796 shares. Based on an average daily volume of 2,926,875 shares, the days-to-cover ratio is presently 4.9 days. Approximately 8.8% of the shares of the stock are short sold.

Shares of Lam Research (NASDAQ LRCX) opened at $186.32 on Monday. Lam Research has a twelve month low of $104.28 and a twelve month high of $219.70. The company has a market capitalization of $30,173.78, a P/E ratio of 16.05, a P/E/G ratio of 0.85 and a beta of 1.57. The company has a quick ratio of 2.83, a current ratio of 3.31 and a debt-to-equity ratio of 0.24.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.27 by $0.19. Lam Research had a return on equity of 30.19% and a net margin of 22.85%. The business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same period in the prior year, the business posted $1.81 earnings per share. The firm’s revenue was up 51.8% on a year-over-year basis. equities analysts predict that Lam Research will post 14.74 EPS for the current fiscal year.

Lam Research declared that its Board of Directors has initiated a stock buyback plan on Tuesday, November 14th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Wednesday, December 6th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 5th. This is a positive change from Lam Research’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 1.07%. Lam Research’s payout ratio is 18.28%.

Several brokerages have commented on LRCX. KeyCorp reissued a “buy” rating and set a $225.00 target price on shares of Lam Research in a research note on Sunday, November 19th. B. Riley reissued a “buy” rating and set a $250.00 target price on shares of Lam Research in a research note on Tuesday, November 14th. Royal Bank of Canada boosted their price target on Lam Research from $210.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, November 15th. Deutsche Bank boosted their price target on Lam Research to $230.00 and gave the stock a “buy” rating in a report on Wednesday, November 15th. Finally, Needham & Company LLC boosted their price target on Lam Research from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 19th. Four research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $212.99.

In related news, Director Michael R. Cannon sold 9,000 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $212.43, for a total value of $1,911,870.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Patrick J. Lord sold 264 shares of the business’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $216.08, for a total value of $57,045.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,859 shares of company stock valued at $9,284,799. 0.41% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Signature Estate & Investment Advisors LLC raised its position in shares of Lam Research by 15.2% during the third quarter. Signature Estate & Investment Advisors LLC now owns 3,986 shares of the semiconductor company’s stock worth $738,000 after purchasing an additional 527 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Lam Research by 5.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 560,705 shares of the semiconductor company’s stock worth $79,301,000 after purchasing an additional 28,662 shares during the period. Putnam FL Investment Management Co. acquired a new position in shares of Lam Research during the third quarter worth approximately $15,390,000. Pacad Investment Ltd. raised its position in shares of Lam Research by 252.5% during the second quarter. Pacad Investment Ltd. now owns 36,369 shares of the semiconductor company’s stock worth $5,144,000 after purchasing an additional 26,052 shares during the period. Finally, Epoch Investment Partners Inc. raised its position in shares of Lam Research by 0.9% during the third quarter. Epoch Investment Partners Inc. now owns 64,708 shares of the semiconductor company’s stock worth $11,974,000 after purchasing an additional 600 shares during the period. 93.80% of the stock is currently owned by hedge funds and other institutional investors.

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Lam Research 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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