Brown Financial Advisors Takes Position in Lam Research Co. (NASDAQ:LRCX)

Brown Financial Advisors acquired a new stake in Lam Research Co. (NASDAQ:LRCX - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,398 shares of the semiconductor company's stock, valued at approximately $1,489,000.

Several other large investors have also modified their holdings of the company. Swedbank AB purchased a new position in Lam Research during the first quarter worth about $192,668,000. Van ECK Associates Corp raised its stake in shares of Lam Research by 24.6% during the 1st quarter. Van ECK Associates Corp now owns 968,115 shares of the semiconductor company's stock worth $940,592,000 after buying an additional 191,230 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Lam Research by 1.2% in 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 buying an additional 144,914 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Lam Research by 5.1% in the first 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 buying an additional 142,903 shares in the last quarter. Finally, Natixis grew its holdings in Lam Research by 1,267.1% during the first quarter. Natixis now owns 142,967 shares of the semiconductor company's stock worth $138,902,000 after acquiring an additional 132,509 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on LRCX shares. UBS Group reduced their target price on Lam Research from $125.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, September 12th. Cantor Fitzgerald decreased their price objective on shares of Lam Research from $120.00 to $100.00 and set a "neutral" rating on the stock in a report on Monday. Citigroup dropped their target price on shares of Lam Research from $99.00 to $89.30 and set a "buy" rating for the company in a report on Monday, September 16th. Raymond James boosted their price target on Lam Research from $95.00 to $106.00 and gave the stock an "outperform" rating in a research note on Friday, June 7th. Finally, Barclays raised their price objective on Lam Research from $86.50 to $90.00 and gave the company 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 given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $100.23.

Insider Activity

In other Lam Research news, SVP Neil J. Fernandes sold 16,200 shares of the business's stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $105.70, for a total transaction of $1,712,323.80. Following the transaction, the senior vice president now owns 52,370 shares in the company, valued at $5,535,456.63. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, SVP Neil J. Fernandes sold 16,200 shares of Lam Research stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $105.70, for a total transaction of $1,712,323.80. Following the sale, the senior vice president now owns 52,370 shares in the company, valued at $5,535,456.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Christina Correia sold 647 shares of the company's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the transaction, the chief accounting officer now owns 4,267 shares of the company's stock, valued at $3,488,315.17. The disclosure for this sale can be found here. Insiders own 0.32% of the company's stock.

Lam Research Trading Up 2.1 %

Shares of Lam Research stock traded up $16.71 during trading hours on Wednesday, reaching $814.09. 1,255,439 shares of the company's stock were exchanged, compared to its average volume of 1,108,610. Lam Research Co. has a 52-week low of $574.42 and a 52-week high of $1,130.00. The company has a fifty day moving average of $811.37 and a 200-day moving average of $918.60. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $106.43 billion, a price-to-earnings ratio of 30.29, a price-to-earnings-growth ratio of 1.51 and a beta of 1.48.

Shares of Lam Research are set to split 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 closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.76 by $0.05. The company had revenue of $3.87 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 earnings per share. Sell-side analysts forecast that Lam Research Co. will post 35.2 EPS for the current fiscal year.

Lam Research Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend was Tuesday, September 17th. Lam Research's payout ratio is currently 33.84%.

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.