Vanguard Personalized Indexing Management LLC Purchases 968 Shares of Lam Research Co. (NASDAQ:LRCX)

Vanguard Personalized Indexing Management LLC boosted its position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 7.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,794 shares of the semiconductor company's stock after buying an additional 968 shares during the quarter. Vanguard Personalized Indexing Management LLC's holdings in Lam Research were worth $15,230,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Lam Research by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company's stock valued at $11,519,576,000 after acquiring an additional 144,914 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Lam Research by 3.0% during the fourth quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company's stock valued at $2,329,037,000 after purchasing an additional 86,721 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Lam Research by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company's stock valued at $2,875,023,000 after purchasing an additional 142,903 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Lam Research by 7.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company's stock worth $1,335,522,000 after purchasing an additional 89,470 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in Lam Research by 11.1% during the 2nd quarter. Van ECK Associates Corp now owns 1,075,893 shares of the semiconductor company's stock worth $1,145,664,000 after buying an additional 107,778 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Down 1.3 %

Shares of LRCX traded down $10.17 during trading hours on Wednesday, hitting $755.87. 1,146,170 shares of the company were exchanged, compared to its average volume of 1,088,684. The firm's 50 day moving average is $855.19 and its 200-day moving average is $929.39. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. Lam Research Co. has a 52 week low of $574.42 and a 52 week high of $1,130.00. The company has a market cap of $98.82 billion, a PE ratio of 28.17, a PEG ratio of 1.48 and a beta of 1.48.

Lam Research shares are set to split on the morning of Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be distributed to shareholders after the market closes on Wednesday, October 2nd.

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

Lam Research Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be paid a dividend of $2.30 per share. This is a boost from Lam Research's previous quarterly dividend of $2.00. This represents a $9.20 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Tuesday, September 17th. Lam Research's dividend payout ratio is presently 33.84%.

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

Analyst Ratings Changes

Several research firms have recently weighed in on LRCX. StockNews.com downgraded shares of Lam Research from a "buy" rating to a "hold" rating in a research report on Friday, July 26th. Deutsche Bank Aktiengesellschaft cut their target price on shares of 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. Citigroup decreased their target price on Lam Research from $990.00 to $893.00 and set a "buy" rating for the company in a research report on Monday. Cantor Fitzgerald reissued a "neutral" rating and set a $1,200.00 price target on shares of Lam Research in a research report on Thursday, August 1st. Finally, Needham & Company LLC restated a "buy" rating and set a $1,130.00 price objective on shares of Lam Research in a research report on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,013.37.

Insider Buying and Selling at Lam Research

In related news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the sale, the chief accounting officer now directly owns 4,914 shares of the company's stock, valued at $5,219,945.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction on Monday, July 1st. The shares were sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the sale, the chief accounting officer now owns 4,914 shares in the company, valued at $5,219,945.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $4,654,845.84. Following the completion of the transaction, the senior vice president now owns 6,857 shares of the company's stock, valued at approximately $7,239,346.32. The disclosure for this sale can be found here. Insiders sold a total of 16,326 shares of company stock valued at $17,383,715 in the last ninety days. Company insiders own 0.32% of the company's stock.

Lam Research Profile

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.