Lam Research Corp. (NASDAQ:LRCX) CFO Douglas R. Bettinger sold 9,956 shares of the company’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $106.88, for a total value of $1,064,097.28. The sale was disclosed in a filing with the SEC, which is available at this link.

Shares of Lam Research Corp. (NASDAQ:LRCX) opened at 106.77 on Tuesday. The firm has a market capitalization of $17.39 billion, a price-to-earnings ratio of 21.19 and a beta of 1.49. Lam Research Corp. has a 12-month low of $63.10 and a 12-month high of $108.04. The stock’s 50 day moving average price is $99.65 and its 200 day moving average price is $90.97.

Lam Research Corp. (NASDAQ:LRCX) last posted its earnings results on Wednesday, October 19th. The company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.03. Lam Research Corp. had a return on equity of 18.43% and a net margin of 15.02%. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the prior year, the business earned $1.82 EPS. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities research analysts expect that Lam Research Corp. will post $8.28 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Wednesday, December 14th will be issued a dividend of $0.45 per share. This is an increase from Lam Research Corp.’s previous quarterly dividend of $0.30. The ex-dividend date is Monday, December 12th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.68%. Lam Research Corp.’s dividend payout ratio is 23.86%.

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Several hedge funds and other institutional investors have recently bought and sold shares of LRCX. Vanguard Group Inc. increased its position in Lam Research Corp. by 1.3% in the second quarter. Vanguard Group Inc. now owns 14,385,832 shares of the company’s stock worth $1,209,274,000 after buying an additional 187,529 shares during the period. FMR LLC increased its position in Lam Research Corp. by 149.5% in the second quarter. FMR LLC now owns 10,317,149 shares of the company’s stock worth $867,259,000 after buying an additional 6,182,540 shares during the period. State Street Corp increased its position in Lam Research Corp. by 0.3% in the second quarter. State Street Corp now owns 6,393,084 shares of the company’s stock worth $537,391,000 after buying an additional 19,142 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in Lam Research Corp. by 3.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 4,240,514 shares of the company’s stock worth $401,619,000 after buying an additional 152,578 shares during the period. Finally, BlackRock Fund Advisors increased its position in Lam Research Corp. by 4.5% in the second quarter. BlackRock Fund Advisors now owns 2,916,817 shares of the company’s stock worth $245,188,000 after buying an additional 126,883 shares during the period.

A number of equities research analysts have recently issued reports on LRCX shares. RBC Capital Markets reiterated an “outperform” rating and set a $105.00 price objective on shares of Lam Research Corp. in a research note on Sunday, October 9th. Zacks Investment Research upgraded Lam Research Corp. from a “hold” rating to a “buy” rating and set a $102.00 price objective on the stock in a research note on Tuesday, September 27th. Needham & Company LLC reiterated a “buy” rating and set a $120.00 price objective (up previously from $115.00) on shares of Lam Research Corp. in a research note on Monday, October 17th. Goldman Sachs Group Inc. started coverage on Lam Research Corp. in a research note on Tuesday, October 25th. They set a “neutral” rating and a $104.00 price objective on the stock. Finally, Bank of America Corp. reiterated a “buy” rating and set a $115.00 price objective on shares of Lam Research Corp. in a research note on Monday, November 21st. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Lam Research Corp. currently has an average rating of “Buy” and a consensus target price of $106.35.

About Lam Research Corp.

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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