Lam Research Co. (NASDAQ:LRCX) Short Interest Update

Lam Research Co. (NASDAQ:LRCXGet Rating) was the recipient of a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 1,780,000 shares, an increase of 24.5% from the May 15th total of 1,430,000 shares. Approximately 1.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,340,000 shares, the days-to-cover ratio is presently 1.3 days.

In other Lam Research news, SVP Scott Gerald Meikle sold 700 shares of Lam Research stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $541.22, for a total transaction of $378,854.00. Following the transaction, the senior vice president now directly owns 20,425 shares in the company, valued at approximately $11,054,418.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Catherine P. Lego acquired 1,736 shares of the stock in a transaction on Tuesday, April 26th. The shares were purchased at an average price of $460.35 per share, for a total transaction of $799,167.60. Following the completion of the transaction, the director now owns 49,991 shares in the company, valued at approximately $23,013,356.85. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in LRCX. Norges Bank bought a new position in shares of Lam Research during the 4th quarter worth about $1,005,096,000. Coatue Management LLC increased its holdings in shares of Lam Research by 110.9% during the 4th quarter. Coatue Management LLC now owns 860,025 shares of the semiconductor company’s stock worth $618,487,000 after purchasing an additional 452,154 shares during the period. 1832 Asset Management L.P. increased its holdings in shares of Lam Research by 229.7% during the 4th quarter. 1832 Asset Management L.P. now owns 414,564 shares of the semiconductor company’s stock worth $300,852,000 after purchasing an additional 288,808 shares during the period. Invesco Ltd. increased its holdings in shares of Lam Research by 43.6% during the 1st quarter. Invesco Ltd. now owns 919,096 shares of the semiconductor company’s stock worth $494,117,000 after purchasing an additional 279,193 shares during the period. Finally, Morgan Stanley increased its holdings in shares of Lam Research by 40.5% during the 2nd quarter. Morgan Stanley now owns 951,434 shares of the semiconductor company’s stock worth $619,097,000 after purchasing an additional 274,306 shares during the period. 82.34% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have recently commented on the stock. DA Davidson lowered their price target on shares of Lam Research from $725.00 to $575.00 in a report on Thursday, April 21st. B. Riley cut shares of Lam Research from a “buy” rating to a “neutral” rating and lowered their price target for the company from $625.00 to $525.00 in a report on Wednesday. Mizuho lowered their price target on shares of Lam Research from $725.00 to $675.00 and set a “buy” rating on the stock in a report on Thursday, April 21st. Jefferies Financial Group lowered their price target on shares of Lam Research from $869.00 to $670.00 in a report on Friday, April 22nd. Finally, Stifel Nicolaus boosted their price target on shares of Lam Research from $775.00 to $837.00 in a report on Thursday, April 7th. Twelve investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $668.74.

Lam Research stock opened at $419.46 on Friday. The firm has a market cap of $58.18 billion, a price-to-earnings ratio of 13.11, a P/E/G ratio of 0.86 and a beta of 1.26. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.83 and a quick ratio of 2.00. Lam Research has a fifty-two week low of $411.39 and a fifty-two week high of $731.85. The firm has a fifty day moving average price of $479.42 and a two-hundred day moving average price of $560.98.

Lam Research (NASDAQ:LRCXGet Rating) last released its earnings results on Wednesday, April 20th. The semiconductor company reported $7.40 earnings per share for the quarter, missing analysts’ consensus estimates of $7.48 by ($0.08). The firm had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.24 billion. Lam Research had a return on equity of 75.51% and a net margin of 27.13%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $7.49 EPS. As a group, sell-side analysts expect that Lam Research will post 31.59 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 6th. Shareholders of record on Wednesday, June 15th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Tuesday, June 14th. Lam Research’s dividend payout ratio is 18.76%.

Lam Research Company Profile (Get Rating)

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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