Financial Counselors Inc. Sells 50 Shares of Lam Research Co. (NASDAQ:LRCX)

Financial Counselors Inc. cut its holdings in Lam Research Co. (NASDAQ:LRCX) by 0.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 10,464 shares of the semiconductor company’s stock after selling 50 shares during the period. Financial Counselors Inc.’s holdings in Lam Research were worth $11,143,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of LRCX. Fortitude Family Office LLC lifted its stake in Lam Research by 16.7% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock worth $67,000 after purchasing an additional 9 shares in the last quarter. Thomasville National Bank lifted its stake in Lam Research by 1.5% in the 2nd quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock worth $865,000 after purchasing an additional 12 shares in the last quarter. Ignite Planners LLC lifted its stake in Lam Research by 2.8% in the 2nd quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock worth $484,000 after purchasing an additional 12 shares in the last quarter. U.S. Capital Wealth Advisors LLC lifted its stake in Lam Research by 3.7% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock worth $357,000 after purchasing an additional 12 shares in the last quarter. Finally, RFP Financial Group LLC lifted its stake in Lam Research by 52.2% in the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 12 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

Insider Activity

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 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 is available at the SEC website. In other news, CEO Timothy Archer sold 9,650 shares of Lam Research stock in a transaction dated Friday, June 28th. The shares were 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 of the company’s stock, valued at approximately $90,596,739.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Neil J. Fernandes sold 4,409 shares of the business’s stock in a transaction dated 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 directly 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 valued at $17,383,715. Corporate insiders own 0.32% of the company’s stock.

Lam Research Price Performance

Shares of Lam Research stock opened at $821.01 on Tuesday. The firm has a market cap of $107.34 billion, a PE ratio of 30.20, a price-to-earnings-growth ratio of 1.58 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. 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 company’s fifty day simple moving average is $925.90 and its two-hundred day simple moving average is $943.09.

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

Lam Research (NASDAQ:LRCX) last announced its quarterly 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 business had revenue of $3.87 billion for the quarter, compared to analyst estimates 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 last year, the firm earned $5.98 EPS. As a group, equities analysts expect that Lam Research Co. will post 35.2 EPS for the current year.

Lam Research announced that its board has approved 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 shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Lam Research Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be paid a dividend of $2.30 per share. This is a positive change from Lam Research’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.12%. Lam Research’s payout ratio is presently 33.84%.

Analyst Ratings Changes

Several research firms have recently weighed in on LRCX. TD Cowen raised their price objective on shares of Lam Research from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Lam Research from $1,100.00 to $950.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Barclays raised their price objective on shares of Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 5th. Wells Fargo & Company lowered their price objective on shares of Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Finally, Raymond James raised their price objective on shares of Lam Research from $950.00 to $1,060.00 and gave the company an “outperform” rating in a research report on Friday, June 7th. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,006.10.

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.