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

Lam Research Co. (NASDAQ:LRCX - Free Report)'s stock is going to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be issued to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research Stock Down 1.5 %

• Is Lam Research the Semiconductor Stock You’ve Been Overlooking?

NASDAQ:LRCX opened at $758.47 on Tuesday. The stock's fifty day moving average price is $862.12 and its two-hundred day moving average price is $930.91. Lam Research has a 52-week low of $574.42 and a 52-week high of $1,130.00. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. The company has a market cap of $99.16 billion, a price-to-earnings ratio of 27.90, a P/E/G ratio of 1.48 and a beta of 1.48.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.58 by $0.56. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the prior year, the business earned $5.98 EPS. The business's revenue for the quarter was up 20.7% compared to the same quarter last year. On average, analysts anticipate that Lam Research will post 35.2 EPS for the current year.

Lam Research Increases Dividend

• 3 Small-Cap Leaders Poised for Significant Growth

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be given a dividend of $2.30 per share. This is a boost from Lam Research's previous quarterly dividend of $2.00. The ex-dividend date is Tuesday, September 17th. This represents a $9.20 annualized dividend and a dividend yield of 1.21%. Lam Research's payout ratio is presently 33.84%.

Lam Research announced that its Board of Directors has approved a stock repurchase plan on Tuesday, May 21st that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to reacquire up to 8.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

• The S&P 500's 3 best 10-year performers are all in this industry

LRCX has been the subject of several recent research reports. TD Cowen upped their target price on shares of Lam Research from $1,000.00 to $1,050.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. Cantor Fitzgerald reiterated a "neutral" rating and set a $1,200.00 target price on shares of Lam Research in a research report on Thursday, August 1st. StockNews.com cut shares of Lam Research from a "buy" rating to a "hold" rating in a research report on Friday, July 26th. Needham & Company LLC reiterated a "buy" rating and set a $1,130.00 target price on shares of Lam Research in a research report on Thursday, August 1st. Finally, Barclays upped their price objective on shares of Lam Research from $865.00 to $900.00 and gave the company an "equal weight" rating in a research report on Wednesday, June 5th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,010.53.

Check Out Our Latest Analysis on LRCX

Insider Transactions at Lam Research

In other news, SVP Neil J. Fernandes sold 4,409 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the completion of the transaction, the senior vice president now directly owns 6,857 shares in the company, valued at approximately $7,239,346.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, SVP Neil J. Fernandes sold 4,409 shares of the firm's stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total value of $4,654,845.84. Following the completion of the sale, the senior vice president now directly owns 6,857 shares in the company, valued at approximately $7,239,346.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Neil J. Fernandes sold 1,620 shares of the firm's stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $1,056.99, for a total transaction of $1,712,323.80. Following the completion of the sale, the senior vice president now owns 5,237 shares of the company's stock, valued at $5,535,456.63. The disclosure for this sale can be found here. Insiders sold a total of 16,326 shares of company stock worth $17,383,715 in the last three months. Insiders own 0.32% of the company's stock.

Institutional Investors Weigh In On Lam Research

Several hedge funds have recently bought and sold shares of LRCX. DSM Capital Partners LLC acquired a new stake in Lam Research in the 4th quarter valued at about $28,000. CarsonAllaria Wealth Management Ltd. acquired a new stake in Lam Research during the second quarter worth approximately $32,000. RFP Financial Group LLC lifted its position in Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company's stock worth $37,000 after acquiring an additional 12 shares during the last quarter. Raleigh Capital Management Inc. lifted its position in Lam Research by 78.6% during the fourth quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company's stock worth $39,000 after acquiring an additional 22 shares during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in Lam Research during the second quarter worth approximately $40,000. 84.61% of the stock is currently 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.

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