Lam Research Co. Declares Quarterly Dividend of $0.23 (NASDAQ:LRCX)

Lam Research Co. (NASDAQ:LRCX) announced a quarterly dividend on Thursday, November 7th,RTT News reports. Investors of record on Wednesday, December 11th will be paid a dividend of 0.23 per share by the semiconductor company on Wednesday, January 8th. This represents a $0.92 annualized dividend and a dividend yield of 1.18%.

Lam Research has raised its dividend payment by an average of 15.0% per year over the last three years. Lam Research has a dividend payout ratio of 25.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Lam Research to earn $4.11 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 22.4%.

Lam Research Stock Performance

LRCX stock opened at $78.20 on Friday. The company has a market capitalization of $100.62 billion, a price-to-earnings ratio of 25.27, a P/E/G ratio of 1.22 and a beta of 1.48. The firm has a 50 day moving average of $77.67 and a two-hundred day moving average of $88.52. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. Lam Research has a 12 month low of $64.85 and a 12 month high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. During the same period in the prior year, the business posted $6.85 earnings per share. The business’s quarterly revenue was up 19.7% on a year-over-year basis. As a group, equities analysts anticipate that Lam Research will post 3.52 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on LRCX shares. Wells Fargo & Company reduced their target price on Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 price objective (down from $105.00) on shares of Lam Research in a report on Thursday, October 24th. B. Riley lowered their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft cut their target price on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Finally, TD Cowen raised their price target on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.03.

Insider Transactions at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the sale, the chief accounting officer now owns 4,267 shares in the company, valued at approximately $3,488,315.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.29% of the company’s stock.

About Lam Research

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.