Lam Research Co. (NASDAQ:LRCX) Short Interest Down 14.3% in February

Lam Research Co. (NASDAQ:LRCX) saw a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 24,860,000 shares, a drop of 14.3% from the February 13th total of 29,020,000 shares. Based on an average daily trading volume, of 12,720,000 shares, the days-to-cover ratio is presently 2.0 days. Approximately 1.9% of the shares of the company are sold short.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the transaction, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.29% of the stock is currently owned by corporate insiders.

Institutional Trading of Lam Research

A number of institutional investors have recently modified their holdings of the business. Parisi Gray Wealth Management lifted its holdings in shares of Lam Research by 652.9% in the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock worth $603,000 after buying an additional 7,241 shares in the last quarter. Burns J W & Co. Inc. NY bought a new stake in Lam Research in the 4th quarter worth approximately $815,000. Centerpoint Advisors LLC boosted its stake in Lam Research by 900.0% in the fourth quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock worth $72,000 after buying an additional 900 shares in the last quarter. Jennison Associates LLC grew its position in Lam Research by 20.0% during the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock valued at $194,451,000 after acquiring an additional 39,725 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC raised its stake in shares of Lam Research by 51.9% during the third quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock worth $175,800,000 after acquiring an additional 73,648 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Stock Down 0.1 %

LRCX stock traded down $0.11 during trading on Thursday, reaching $77.82. The stock had a trading volume of 2,102,565 shares, compared to its average volume of 11,003,718. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $99.89 billion, a price-to-earnings ratio of 23.58, a P/E/G ratio of 1.47 and a beta of 1.53. The company’s 50 day moving average is $79.59 and its two-hundred day moving average is $77.33. Lam Research has a one year low of $68.87 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Equities research analysts forecast that Lam Research will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio is currently 27.96%.

Wall Street Analyst Weigh In

LRCX has been the subject of a number of recent research reports. Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $100.00 price objective on shares of Lam Research in a research note on Tuesday, February 18th. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Oppenheimer assumed coverage on Lam Research in a research report on Thursday. They issued an “outperform” rating and a $95.00 target price for the company. Finally, Mizuho raised their price target on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $98.06.

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.