Lam Research Corp. (NASDAQ:LRCX) was the recipient of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 27,188,150 shares, a decrease of 7.4% from the August 15th total of 29,358,805 shares. Based on an average daily volume of 1,927,393 shares, the short-interest ratio is currently 14.1 days. Currently, 17.1% of the company’s shares are sold short.

Shares of Lam Research Corp. (NASDAQ:LRCX) opened at 93.29 on Thursday. The stock’s 50 day moving average is $92.38 and its 200-day moving average is $84.34. Lam Research Corp. has a 1-year low of $61.20 and a 1-year high of $95.77. The firm has a market cap of $14.95 billion, a PE ratio of 17.87 and a beta of 1.31.

Lam Research Corp. (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.16. Lam Research Corp. had a net margin of 15.53% and a return on equity of 18.95%. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the business earned $1.50 earnings per share. The business’s quarterly revenue was up 4.4% on a year-over-year basis. Analysts expect that Lam Research Corp. will post $6.99 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 28th. Stockholders of record on Wednesday, September 14th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Monday, September 12th. Lam Research Corp.’s dividend payout ratio is 22.99%.

Several brokerages have commented on LRCX. Royal Bank Of Canada lowered their target price on shares of Lam Research Corp. from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Thursday, July 28th. B. Riley reaffirmed a “buy” rating and issued a $106.00 target price on shares of Lam Research Corp. in a research note on Thursday, July 28th. Nomura downgraded shares of Lam Research Corp. from a “buy” rating to a “neutral” rating and lowered their target price for the company from $95.00 to $85.00 in a research note on Thursday, August 11th. Citigroup Inc. lowered their target price on shares of Lam Research Corp. from $105.00 to $102.00 and set a “buy” rating for the company in a research note on Friday, August 12th. Finally, Stifel Nicolaus upped their target price on shares of Lam Research Corp. from $93.00 to $102.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $99.21.

Hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc boosted its position in shares of Lam Research Corp. by 0.5% in the first quarter. Legal & General Group Plc now owns 689,290 shares of the company’s stock valued at $56,933,000 after buying an additional 3,333 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Lam Research Corp. by 3.0% in the first quarter. Geode Capital Management LLC now owns 1,345,517 shares of the company’s stock valued at $110,924,000 after buying an additional 39,093 shares in the last quarter. New York State Teachers Retirement System boosted its position in shares of Lam Research Corp. by 1.3% in the second quarter. New York State Teachers Retirement System now owns 321,182 shares of the company’s stock valued at $26,999,000 after buying an additional 4,166 shares in the last quarter. Panagora Asset Management Inc. boosted its position in shares of Lam Research Corp. by 116.7% in the first quarter. Panagora Asset Management Inc. now owns 338,934 shares of the company’s stock valued at $27,996,000 after buying an additional 182,531 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. boosted its position in shares of Lam Research Corp. by 2.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 134,071 shares of the company’s stock valued at $11,074,000 after buying an additional 3,507 shares in the last quarter.

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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