MGO One Seven LLC Acquires 436 Shares of Lam Research Co. (NASDAQ:LRCX)

MGO One Seven LLC boosted its holdings in Lam Research Co. (NASDAQ:LRCX) by 42.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,459 shares of the semiconductor company’s stock after buying an additional 436 shares during the quarter. MGO One Seven LLC’s holdings in Lam Research were worth $1,554,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. DSM Capital Partners LLC purchased a new position in shares of Lam Research during the fourth quarter valued at approximately $28,000. CarsonAllaria Wealth Management Ltd. bought a new stake in Lam Research in the 2nd quarter worth approximately $32,000. RFP Financial Group LLC lifted its holdings in shares of Lam Research by 52.2% during the 2nd 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 period. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of Lam Research in the 4th quarter worth $39,000. Finally, Raleigh Capital Management Inc. grew its holdings in shares of Lam Research by 78.6% in the fourth quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 22 shares during the period. Institutional investors own 84.61% of the company’s stock.

Lam Research Trading Down 2.5 %

Shares of LRCX opened at $747.78 on Friday. The firm has a market cap of $97.77 billion, a P/E ratio of 27.50, a price-to-earnings-growth ratio of 1.41 and a beta of 1.48. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. 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 simple moving average of $875.35 and a two-hundred day simple moving average of $933.27.

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 payable 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, beating analysts’ consensus estimates of $7.58 by $0.56. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same period in the previous year, the firm posted $5.98 EPS. Lam Research’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, equities analysts expect that Lam Research Co. will post 35.2 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The company also recently declared 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. The ex-dividend date is Tuesday, September 17th. This is a positive change from Lam Research’s previous quarterly dividend of $2.00. This represents a $9.20 dividend on an annualized basis and a yield of 1.23%. Lam Research’s dividend payout ratio is presently 33.84%.

Lam Research announced that its Board of Directors has initiated a share repurchase program on Tuesday, May 21st that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 8.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LRCX. UBS Group lowered 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. Raymond James raised their price objective on shares of Lam Research from $950.00 to $1,060.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. B. Riley upped their target price on shares of Lam Research from $1,130.00 to $1,325.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Cantor Fitzgerald reiterated a “neutral” rating and set a $1,200.00 price target on shares of Lam Research in a research note on Thursday, August 1st. Finally, Citigroup reduced their price objective on Lam Research from $1,025.00 to $990.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,006.10.

Insider Buying and Selling at Lam Research

In other news, SVP Neil J. Fernandes sold 1,620 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $1,056.99, for a total transaction of $1,712,323.80. Following the completion of the transaction, the senior vice president now directly owns 5,237 shares in the company, valued at approximately $5,535,456.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Neil J. Fernandes sold 1,620 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $1,056.99, for a total transaction of $1,712,323.80. Following the sale, the senior vice president now directly owns 5,237 shares in the company, valued at approximately $5,535,456.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $687,282.22. Following the completion of the transaction, the chief accounting officer now owns 4,914 shares of the company’s stock, valued at approximately $5,219,945.64. The disclosure for this sale can be found here. Insiders sold 16,326 shares of company stock worth $17,383,715 in the last quarter. 0.32% of the stock is owned by corporate insiders.

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.