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. Approximately 8.8% of the shares of the stock are short sold. Based on an average daily volume of 2,926,875 shares, the days-to-cover ratio is presently 4.9 days.

Lam Research (NASDAQ:LRCX) opened at $181.57 on Wednesday. The company has a quick ratio of 2.83, a current ratio of 3.31 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $30,196.49, a P/E ratio of 16.06, a P/E/G ratio of 0.85 and a beta of 1.57. Lam Research has a 12 month low of $103.67 and a 12 month high of $219.70.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share (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 firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period in the previous year, the firm earned $1.81 earnings per share. The company’s revenue was up 51.8% compared to the same quarter last year. analysts predict that Lam Research will post 14.74 EPS for the current 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 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 1.10%. Lam Research’s payout ratio is 18.28%.

LRCX has been the topic of a number of recent analyst reports. B. Riley reiterated a “buy” rating and issued a $220.00 target price on shares of Lam Research in a research report on Tuesday, August 15th. Credit Suisse Group restated a “buy” rating on shares of Lam Research in a report on Tuesday, August 29th. ValuEngine cut Lam Research from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Needham & Company LLC restated a “buy” rating and set a $200.00 price target on shares of Lam Research in a report on Friday, September 1st. Finally, Argus began coverage on Lam Research in a report on Tuesday, September 12th. They set a “buy” rating and a $196.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $212.99.

In other Lam Research news, VP Patrick J. Lord sold 264 shares of Lam Research stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $216.08, for a total value of $57,045.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael R. Cannon sold 9,000 shares of Lam Research stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $212.43, for a total value of $1,911,870.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,247 shares of company stock valued at $12,162,864. 0.41% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Krilogy Financial LLC lifted its stake in Lam Research by 91.6% in the third quarter. Krilogy Financial LLC now owns 550 shares of the semiconductor company’s stock valued at $102,000 after buying an additional 263 shares during the period. Odey Holdings AG raised its position in shares of Lam Research by 9.9% during the second quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock worth $115,000 after purchasing an additional 73 shares during the period. BDO Wealth Advisors LLC acquired a new position in shares of Lam Research during the second quarter worth approximately $118,000. Bollard Group LLC acquired a new position in shares of Lam Research during the third quarter worth approximately $130,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Lam Research during the third quarter worth approximately $134,000. 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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