Octahedron Capital Management L.P. Sells 490 Shares of Lam Research Co. (NASDAQ:LRCX)

Octahedron Capital Management L.P. lessened its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 50.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 490 shares of the semiconductor company’s stock after selling 490 shares during the period. Lam Research comprises 0.5% of Octahedron Capital Management L.P.’s holdings, making the stock its 17th largest holding. Octahedron Capital Management L.P.’s holdings in Lam Research were worth $522,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. CarsonAllaria Wealth Management Ltd. acquired a new position in Lam Research in the 2nd quarter valued at $32,000. RFP Financial Group LLC increased its position in shares of 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 purchasing an additional 12 shares during the period. DSM Capital Partners LLC acquired a new position in Lam Research in the fourth quarter valued at about $28,000. Hobbs Group Advisors LLC bought a new stake in Lam Research during the second quarter worth about $40,000. Finally, Country Trust Bank acquired a new stake in Lam Research during the second quarter worth about $43,000. 84.61% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Neil J. Fernandes sold 1,620 shares of the stock in a transaction on 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 directly owns 5,237 shares in the company, valued at $5,535,456.63. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, SVP Neil J. Fernandes sold 1,620 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 5,237 shares in the company, valued at approximately $5,535,456.63. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Neil J. Fernandes sold 4,409 shares of Lam Research stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total value 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 $7,239,346.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,326 shares of company stock worth $17,383,715. 0.32% of the stock is currently owned by insiders.

Analyst Ratings Changes

LRCX has been the subject of several analyst reports. Wells Fargo & Company dropped their target price on shares of 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. B. Riley upped their target price on Lam Research from $1,130.00 to $1,325.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Mizuho decreased their price target on Lam Research from $1,050.00 to $950.00 and set an “outperform” rating on the stock in a research note on Friday. Cantor Fitzgerald reissued a “neutral” rating and set a $1,200.00 price target on shares of Lam Research in a report on Thursday, August 1st. Finally, Barclays raised their price objective on Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 5th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Lam Research has an average rating of “Moderate Buy” and a consensus price target of $1,012.84.

Lam Research Trading Down 2.0 %

LRCX opened at $773.19 on Friday. 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 fifty-two week low of $574.42 and a fifty-two week high of $1,130.00. The company’s 50 day moving average price is $836.41 and its two-hundred day moving average price is $925.79. The firm has a market capitalization of $101.09 billion, a price-to-earnings ratio of 28.44, a PEG ratio of 1.48 and a beta of 1.48.

Lam Research’s stock is scheduled to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly created shares will be distributed 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 analysts’ consensus estimates of $7.58 by $0.56. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same period in the prior year, the business posted $5.98 earnings per share. Lam Research’s quarterly revenue was up 20.7% on a year-over-year basis. As a group, research analysts predict that Lam Research Co. will post 35.2 earnings per share for the current year.

Lam Research Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Tuesday, September 17th. This is an increase from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s dividend payout ratio is currently 33.84%.

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.