Blair William & Co. IL Buys 426 Shares of Lam Research Co. (NASDAQ:LRCX)

Blair William & Co. IL increased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 8.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 5,755 shares of the semiconductor company’s stock after acquiring an additional 426 shares during the quarter. Blair William & Co. IL’s holdings in Lam Research were worth $6,128,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of LRCX. Cypress Capital Group raised its holdings in shares of Lam Research by 23.1% during the 2nd quarter. Cypress Capital Group now owns 3,528 shares of the semiconductor company’s stock worth $3,757,000 after buying an additional 661 shares in the last quarter. Meeder Advisory Services Inc. lifted its holdings in shares of Lam Research by 29.4% in the second quarter. Meeder Advisory Services Inc. now owns 3,022 shares of the semiconductor company’s stock worth $3,218,000 after acquiring an additional 686 shares during the last quarter. Brookstone Capital Management boosted its stake in shares of Lam Research by 142.6% in the 2nd quarter. Brookstone Capital Management now owns 1,601 shares of the semiconductor company’s stock valued at $1,705,000 after purchasing an additional 941 shares in the last quarter. FineMark National Bank & Trust grew its holdings in shares of Lam Research by 14.5% during the 2nd quarter. FineMark National Bank & Trust now owns 474 shares of the semiconductor company’s stock valued at $505,000 after purchasing an additional 60 shares during the last quarter. Finally, Foundations Investment Advisors LLC increased its position in Lam Research by 534.3% during the 2nd quarter. Foundations Investment Advisors LLC now owns 5,569 shares of the semiconductor company’s stock worth $5,930,000 after purchasing an additional 4,691 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Stock Performance

Shares of LRCX stock opened at $773.19 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. The firm has a market cap of $101.09 billion, a price-to-earnings ratio of 28.44, a P/E/G ratio of 1.48 and a beta of 1.48. Lam Research Co. has a 52 week low of $574.42 and a 52 week high of $1,130.00. The firm’s 50-day simple moving average is $836.41 and its two-hundred day simple moving average is $925.53.

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

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

Lam Research Increases Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wells Fargo & Company cut their target price 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. Cantor Fitzgerald restated a “neutral” rating and set a $1,200.00 price objective on shares of Lam Research in a research report on Thursday, August 1st. Citigroup dropped their target price on Lam Research from $990.00 to $893.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Needham & Company LLC reissued a “buy” rating and set a $1,130.00 price target on shares of Lam Research in a research note on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Lam Research from $1,100.00 to $950.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,012.84.

Insider Buying and Selling at Lam Research

In other news, CEO Timothy Archer sold 9,650 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 84,639 shares of the company’s stock, valued at $90,596,739.21. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Timothy Archer sold 9,650 shares of Lam Research 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 transaction, the chief executive officer now directly owns 84,639 shares in the company, valued at $90,596,739.21. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Neil J. Fernandes sold 4,409 shares of the stock in a transaction dated 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 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. Insiders have sold a total of 16,326 shares of company stock valued at $17,383,715 over the last three months. 0.32% of the stock is currently owned by insiders.

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.