Lam Research Co. (NASDAQ:LRCX) Shares Bought by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. raised its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 29.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,022 shares of the semiconductor company's stock after buying an additional 686 shares during the quarter. Meeder Advisory Services Inc.'s holdings in Lam Research were worth $3,218,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale lifted its stake in Lam Research by 1.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 67,704 shares of the semiconductor company's stock worth $72,492,000 after acquiring an additional 1,083 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Lam Research by 378.7% in the second quarter. Oppenheimer & Co. Inc. now owns 2,245 shares of the semiconductor company's stock valued at $2,391,000 after purchasing an additional 1,776 shares during the period. Nicholas Investment Partners LP grew its holdings in shares of Lam Research by 2.6% in the second quarter. Nicholas Investment Partners LP now owns 2,076 shares of the semiconductor company's stock valued at $2,211,000 after purchasing an additional 52 shares in the last quarter. Main Street Financial Solutions LLC increased its stake in Lam Research by 17.5% during the 2nd quarter. Main Street Financial Solutions LLC now owns 691 shares of the semiconductor company's stock worth $736,000 after buying an additional 103 shares during the period. Finally, Vest Financial LLC increased its stake in Lam Research by 8.7% during the 2nd quarter. Vest Financial LLC now owns 21,333 shares of the semiconductor company's stock worth $22,716,000 after buying an additional 1,706 shares during the period. Institutional investors and hedge funds own 84.61% of the company's stock.

Insider Activity at Lam Research

In other news, SVP Neil J. Fernandes sold 4,409 shares of the stock in a transaction on 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 owns 6,857 shares of the company's stock, valued at $7,239,346.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Neil J. Fernandes sold 1,620 shares of the business's stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $1,056.99, for a total value of $1,712,323.80. Following the completion of the sale, the senior vice president now directly owns 5,237 shares of the company's stock, valued at $5,535,456.63. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Neil J. Fernandes sold 4,409 shares of the company's stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 6,857 shares in the company, valued at $7,239,346.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,326 shares of company stock worth $17,383,715. 0.32% of the stock is owned by insiders.

Lam Research Stock Performance

Lam Research stock traded up $21.94 during trading hours on Friday, reaching $769.72. 871,277 shares of the stock were exchanged, compared to its average volume of 1,086,911. Lam Research Co. 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 firm's 50 day moving average is $868.98 and its 200 day moving average is $932.10. The stock has a market cap of $99.97 billion, a P/E ratio of 28.31, a P/E/G ratio of 1.48 and a beta of 1.48.

Lam Research's stock is scheduled to split before the market opens on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly created shares will be distributed to shareholders after the closing bell on Wednesday, October 2nd.

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

Lam Research declared that its board has approved a stock repurchase program on Tuesday, May 21st that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to reacquire up to 8.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its shares are undervalued.

Lam Research Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be paid a dividend of $2.30 per share. The ex-dividend date is Tuesday, September 17th. This represents a $9.20 dividend on an annualized basis and a yield of 1.20%. This is an increase from Lam Research's previous quarterly dividend of $2.00. Lam Research's dividend payout ratio (DPR) is currently 29.42%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. TD Cowen upped their price objective on Lam Research from $1,000.00 to $1,050.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. Wells Fargo & Company dropped their target price on Lam Research from $1,100.00 to $1,000.00 and set an "equal weight" rating on the stock in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft cut their price target on Lam Research from $1,100.00 to $950.00 and set a "buy" rating on the stock in a research note on Thursday, August 1st. Needham & Company LLC reaffirmed a "buy" rating and set a $1,130.00 price objective on shares of Lam Research in a research report on Thursday, August 1st. Finally, Barclays raised their target price on Lam Research from $865.00 to $900.00 and gave the stock an "equal weight" rating in a research report on Wednesday, June 5th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Lam Research presently has an average rating of "Moderate Buy" and a consensus target price of $1,006.10.

About Lam Research

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.