Lam Research Co. (NASDAQ:LRCX) Position Boosted by Capco Asset Management LLC

Capco Asset Management LLC increased its holdings in Lam Research Co. (NASDAQ:LRCX) by 1.3% in the second quarter, HoldingsChannel.com reports. The fund owned 26,208 shares of the semiconductor company’s stock after acquiring an additional 340 shares during the period. Lam Research comprises about 6.6% of Capco Asset Management LLC’s portfolio, making the stock its 7th largest holding. Capco Asset Management LLC’s holdings in Lam Research were worth $27,908,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in LRCX. DSM Capital Partners LLC purchased a new stake in shares of Lam Research in the 4th quarter worth about $28,000. CarsonAllaria Wealth Management Ltd. bought a new position in Lam Research in the second quarter worth about $32,000. RFP Financial Group LLC lifted its holdings in Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after buying an additional 12 shares during the period. Raleigh Capital Management Inc. boosted its position in Lam Research by 78.6% during the 4th quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 22 shares in the last quarter. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Lam Research during the 2nd quarter worth approximately $40,000. Institutional investors own 84.61% of the company’s stock.

Insider Activity at Lam Research

In other news, SVP Neil J. Fernandes sold 4,409 shares of the business’s stock in a transaction on 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 completion of 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 SEC, which is available at this hyperlink. In related news, SVP Neil J. Fernandes sold 4,409 shares of Lam Research stock in a transaction on 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 transaction, the senior vice president now owns 6,857 shares in the company, valued at approximately $7,239,346.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Timothy Archer sold 9,650 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $1,070.39, for a total value of $10,329,263.50. Following the completion of the transaction, the chief executive officer now owns 84,639 shares in the company, valued at $90,596,739.21. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,326 shares of company stock worth $17,383,715. 0.32% of the stock is owned by company insiders.

Analyst Ratings Changes

LRCX has been the subject of a number of research analyst reports. Cantor Fitzgerald restated a “neutral” rating and issued a $1,200.00 target price on shares of Lam Research in a research note on Thursday, August 1st. Wells Fargo & Company lowered their price objective on Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. TD Cowen upped their target price on shares of Lam Research from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Barclays increased their price target on shares of Lam Research from $865.00 to $900.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 5th. Finally, Deutsche Bank Aktiengesellschaft dropped 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 note on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,013.37.

Lam Research Stock Performance

Shares of LRCX opened at $755.87 on Thursday. The company has a market cap of $98.82 billion, a price-to-earnings ratio of 27.80, a P/E/G ratio of 1.48 and a beta of 1.48. The business’s fifty day simple moving average is $847.76 and its two-hundred day simple moving average is $928.18. Lam Research Co. has a 12 month low of $574.42 and a 12 month high of $1,130.00. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52.

Lam Research’s stock is going 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 distributed to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.58 by $0.56. The business had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.98 EPS. Research analysts anticipate that Lam Research Co. will post 35.2 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be issued a $2.30 dividend. This is an increase 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 1.22%. Lam Research’s dividend payout ratio (DPR) is presently 33.84%.

Lam Research Company 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.