Lam Research Co. (NASDAQ:LRCX) Stock Position Trimmed by Leuthold Group LLC

Leuthold Group LLC reduced its position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 14.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,497 shares of the semiconductor company's stock after selling 3,438 shares during the period. Lam Research accounts for about 2.5% of Leuthold Group LLC's holdings, making the stock its 2nd biggest holding. Leuthold Group LLC's holdings in Lam Research were worth $21,826,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of LRCX. DSM Capital Partners LLC acquired a new position in shares of Lam Research during the 4th quarter worth $28,000. CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Lam Research during the second quarter worth approximately $32,000. RFP Financial Group LLC lifted its stake in Lam Research by 52.2% in the second 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 last quarter. Raleigh Capital Management Inc. lifted its stake in Lam Research by 78.6% in the fourth quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company's stock valued at $39,000 after buying an additional 22 shares during the last quarter. Finally, Hobbs Group Advisors LLC bought a new stake in Lam Research in the second quarter worth about $40,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on LRCX shares. TD Cowen lifted their price target on Lam Research from $1,000.00 to $1,050.00 and gave the company a "buy" rating in a report on Thursday, August 1st. UBS Group decreased their target price on Lam Research from $1,250.00 to $1,150.00 and set a "buy" rating on the stock in a report on Thursday, September 12th. Cantor Fitzgerald reissued a "neutral" rating and issued a $1,200.00 price target on shares of Lam Research in a research note on Thursday, August 1st. Needham & Company LLC reaffirmed a "buy" rating and set a $1,130.00 price target on shares of Lam Research in a research report on Thursday, August 1st. Finally, StockNews.com lowered shares of Lam Research from a "buy" rating to a "hold" rating in a research note on Friday, July 26th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Lam Research has a consensus rating of "Moderate Buy" and a consensus price target of $1,013.37.

Lam Research Trading Up 5.7 %

NASDAQ:LRCX traded up $42.91 during trading hours on Thursday, hitting $798.78. The company had a trading volume of 634,330 shares, compared to its average volume of 1,086,207. The company has a market cap of $104.43 billion, a P/E ratio of 27.80, a P/E/G ratio of 1.48 and a beta of 1.48. Lam Research Co. has a 1 year low of $574.42 and a 1 year high of $1,130.00. The company has a 50-day moving average of $847.76 and a 200 day moving average of $928.18. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52.

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

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.58 by $0.56. The firm had revenue of $3.87 billion during 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 revenue was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.98 EPS. Sell-side analysts expect that Lam Research Co. will post 35.2 earnings per share for the current year.

Lam Research Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be issued a $2.30 dividend. This is an increase from Lam Research's previous quarterly dividend of $2.00. The ex-dividend date is Tuesday, September 17th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.15%. Lam Research's dividend payout ratio is currently 33.84%.

Insider Buying and Selling

In other news, SVP Neil J. Fernandes sold 4,409 shares of Lam Research stock in a transaction dated 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 sale, the senior vice president now directly owns 6,857 shares in the company, valued at approximately $7,239,346.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Timothy Archer sold 9,650 shares of the company's stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $1,070.39, for a total value of $10,329,263.50. Following the transaction, the chief executive officer now directly owns 84,639 shares in the company, valued at $90,596,739.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Neil J. Fernandes sold 4,409 shares of Lam Research 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 transaction 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 quarter, insiders have sold 16,326 shares of company stock worth $17,383,715. Insiders own 0.32% of the company's stock.

Lam Research Company 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.