Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Wealthspire Advisors LLC

Wealthspire Advisors LLC raised its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 23.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,150 shares of the semiconductor company’s stock after purchasing an additional 220 shares during the period. Wealthspire Advisors LLC’s holdings in Lam Research were worth $1,225,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Fortitude Family Office LLC increased its holdings in shares of Lam Research by 16.7% during the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock worth $67,000 after buying an additional 9 shares during the last quarter. Thomasville National Bank increased its stake in Lam Research by 1.5% during the second quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock worth $865,000 after acquiring an additional 12 shares during the last quarter. Ignite Planners LLC raised its holdings in shares of 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 during the period. U.S. Capital Wealth Advisors LLC lifted its stake in shares of 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 valued at $357,000 after purchasing an additional 12 shares in the last quarter. Finally, RFP Financial Group LLC grew 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 worth $37,000 after purchasing an additional 12 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Transactions at Lam Research

In related news, SVP Neil J. Fernandes sold 1,620 shares of the business’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 completion of the sale, the senior vice president now owns 5,237 shares of the company’s stock, valued at approximately $5,535,456.63. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, SVP Neil J. Fernandes sold 1,620 shares of the business’s 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 owns 5,237 shares in the company, valued at approximately $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, CEO Timothy Archer sold 9,650 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $1,070.39, for a total value of $10,329,263.50. Following the completion of the sale, the chief executive officer now directly owns 84,639 shares in the company, valued at $90,596,739.21. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,326 shares of company stock worth $17,383,715. 0.32% of the stock is currently owned by insiders.

Lam Research Price Performance

LRCX opened at $769.72 on Monday. The company has a market capitalization of $100.63 billion, a P/E ratio of 28.31, a PEG ratio of 1.48 and a beta of 1.48. The company has a 50-day moving average of $868.98 and a 200-day moving average of $932.18. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. Lam Research Co. has a 1-year low of $574.42 and a 1-year high of $1,130.00.

Lam Research shares are scheduled to split on the morning of 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) last released its earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 EPS for the quarter, topping analysts’ consensus estimates of $7.58 by $0.56. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. Lam Research’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the business posted $5.98 EPS. Equities analysts expect that Lam Research Co. will post 35.2 EPS for the current fiscal year.

Lam Research declared that its board has approved a stock repurchase program on Tuesday, May 21st that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to reacquire up to 8.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Lam Research Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.20%. This is a boost from Lam Research’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Tuesday, September 17th. Lam Research’s dividend payout ratio is 33.84%.

Wall Street Analyst Weigh In

Several research analysts recently commented on LRCX shares. Needham & Company LLC restated a “buy” rating and issued a $1,130.00 price target on shares of Lam Research in a report on Thursday, August 1st. Citigroup reduced their target price on shares of Lam Research from $1,025.00 to $990.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft lowered their price target on Lam Research from $1,100.00 to $950.00 and set a “buy” rating for the company in a report on Thursday, August 1st. UBS Group cut their price objective on Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Raymond James upped their target price on Lam Research from $950.00 to $1,060.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. Six research 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,015.63.

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.