Farther Finance Advisors LLC Has $1.33 Million Position in Lam Research Co. (NASDAQ:LRCX)

Farther Finance Advisors LLC increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 31.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,255 shares of the semiconductor company’s stock after purchasing an additional 303 shares during the period. Farther Finance Advisors LLC’s holdings in Lam Research were worth $1,331,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in LRCX. Norges Bank acquired a new stake in Lam Research in the 4th quarter worth $1,414,111,000. Swedbank AB bought a new stake in shares of Lam Research in the first quarter valued at about $192,668,000. Van ECK Associates Corp grew its position in Lam Research by 24.6% during the first 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. increased its stake in Lam Research by 1.2% during the first 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 period. Finally, Price T Rowe Associates Inc. MD raised its holdings in 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 acquiring an additional 142,903 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Neil J. Fernandes sold 4,409 shares of the business’s 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 completion of the sale, the senior vice president now owns 6,857 shares in the company, valued at $7,239,346.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, SVP Neil J. Fernandes sold 4,409 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now owns 6,857 shares of the company’s stock, valued at approximately $7,239,346.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy Archer sold 9,650 shares of the business’s stock in a transaction that occurred 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 directly owns 84,639 shares of the company’s stock, valued at $90,596,739.21. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,326 shares of company stock valued at $17,383,715. 0.32% of the stock is currently owned by corporate insiders.

Lam Research Price Performance

Shares of LRCX stock opened at $821.01 on Monday. Lam Research Co. has a 52 week low of $574.42 and a 52 week high of $1,130.00. The stock has a market capitalization of $107.34 billion, a PE ratio of 30.20, a PEG ratio of 1.58 and a beta of 1.48. 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 stock’s fifty day moving average is $929.97 and its 200-day moving average is $943.74.

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 payable to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last posted 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 net margin of 25.68% and a return on equity of 48.71%. The firm had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter last year, the company posted $5.98 EPS. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. Equities research analysts expect that Lam Research Co. will post 35.2 EPS for the current fiscal year.

Lam Research announced that its board has approved a share repurchase plan on Tuesday, May 21st that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to buy up to 8.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Lam Research Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be given a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Tuesday, September 17th. This is a boost from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s payout ratio is 33.84%.

Analysts Set New Price Targets

Several analysts have recently weighed in on LRCX shares. 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 research report on Friday, June 7th. Needham & Company LLC restated a “buy” rating and issued a $1,130.00 price objective on shares of Lam Research in a research note on Thursday, August 1st. Jefferies Financial Group started coverage on shares of Lam Research in a report on Monday, May 13th. They set a “buy” rating and a $1,100.00 price objective for the company. Deutsche Bank Aktiengesellschaft lowered 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. Finally, StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.