L & S Advisors Inc lifted its position in Lam Research Co. (NASDAQ:LRCX - Free Report) by 14.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,996 shares of the semiconductor company's stock after acquiring an additional 1,411 shares during the period. Lam Research accounts for 1.3% of L & S Advisors Inc's holdings, making the stock its 17th largest position. L & S Advisors Inc's holdings in Lam Research were worth $11,709,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the company. Fortitude Family Office LLC raised its position in Lam Research by 16.7% in the second quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company's stock valued at $67,000 after purchasing an additional 9 shares during the period. Thomasville National Bank raised its position in Lam Research by 1.5% in the second quarter. Thomasville National Bank now owns 812 shares of the semiconductor company's stock valued at $865,000 after purchasing an additional 12 shares during the period. Ignite Planners LLC raised its position in Lam Research by 2.8% in the second quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company's stock valued at $484,000 after purchasing an additional 12 shares during the period. U.S. Capital Wealth Advisors LLC raised its position in Lam Research by 3.7% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company's stock valued at $357,000 after purchasing an additional 12 shares during the period. Finally, RFP Financial Group LLC raised its holdings in shares of Lam Research by 52.2% in the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company's stock valued at $37,000 after buying an additional 12 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Lam Research
In other Lam Research news, SVP Neil J. Fernandes sold 4,409 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the sale, the senior vice president now owns 6,857 shares in the company, valued at approximately $7,239,346.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Timothy Archer sold 9,650 shares of the firm's stock in a transaction on Friday, June 28th. The stock was sold at an average price of $1,070.39, for a total transaction of $10,329,263.50. Following the sale, the chief executive officer now owns 84,639 shares in the company, valued at $90,596,739.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Neil J. Fernandes sold 4,409 shares of the firm's stock in a transaction on Thursday, June 27th. The stock was 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 owns 6,857 shares in the company, valued at approximately $7,239,346.32. The disclosure for this sale can be found here. In 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
LRCX traded up $9.84 on Tuesday, hitting $766.04. 931,996 shares of the company traded hands, compared to its average volume of 1,087,552. The company has a 50 day moving average of $855.19 and a 200-day moving average of $929.39. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $100.15 billion, a PE ratio of 28.17, a PEG ratio of 1.48 and a beta of 1.48. Lam Research Co. has a 12-month low of $574.42 and a 12-month high of $1,130.00.
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 issued to shareholders after the market closes on Wednesday, October 2nd.
Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share for the quarter, beating the consensus estimate of $7.58 by $0.56. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The firm had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same period last year, the business posted $5.98 EPS. Lam Research's quarterly revenue was up 20.7% on a year-over-year basis. Sell-side analysts anticipate that Lam Research Co. will post 35.2 earnings per share for the current year.
Lam Research announced that its board has initiated a stock repurchase program on Tuesday, May 21st that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to buy up to 8.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its shares are undervalued.
Lam Research Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Tuesday, September 17th. This is a boost from Lam Research's previous quarterly dividend of $2.00. Lam Research's dividend payout ratio is 33.84%.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on the company. StockNews.com downgraded Lam Research from a "buy" rating to a "hold" rating in a report on Friday, July 26th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $1,200.00 price objective on shares of Lam Research in a report on Thursday, August 1st. Needham & Company LLC reiterated a "buy" rating and issued a $1,130.00 price objective on shares of Lam Research in a report on Thursday, August 1st. Raymond James boosted their price objective on Lam Research from $950.00 to $1,060.00 and gave the company an "outperform" rating in a report on Friday, June 7th. Finally, Barclays boosted their target price on Lam Research from $865.00 to $900.00 and gave the stock an "equal weight" rating in a research note on Wednesday, June 5th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Lam Research has a consensus rating of "Moderate Buy" and an average price target of $1,013.37.
Read Our Latest Report on Lam Research
About Lam Research
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Free Report)
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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