Ensign Peak Advisors Inc Has $56.95 Million Stake in Lam Research Co. (NASDAQ:LRCX)

Ensign Peak Advisors Inc reduced its holdings in Lam Research Co. (NASDAQ:LRCX) by 22.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 53,480 shares of the semiconductor company’s stock after selling 15,495 shares during the period. Ensign Peak Advisors Inc’s holdings in Lam Research were worth $56,948,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LRCX. Gryphon Financial Partners LLC acquired a new position in shares of Lam Research during the 4th quarter worth approximately $476,000. US Bancorp DE raised its position in Lam Research by 3.4% during the fourth quarter. US Bancorp DE now owns 48,379 shares of the semiconductor company’s stock worth $37,895,000 after acquiring an additional 1,608 shares in the last quarter. Commerce Bank increased its stake in shares of Lam Research by 1.4% during the 4th quarter. Commerce Bank now owns 7,839 shares of the semiconductor company’s stock worth $6,140,000 after purchasing an additional 112 shares during the last quarter. SageView Advisory Group LLC lifted its stake in Lam Research by 220.8% in the 4th quarter. SageView Advisory Group LLC now owns 1,235 shares of the semiconductor company’s stock valued at $1,032,000 after purchasing an additional 850 shares during the last quarter. Finally, Orion Portfolio Solutions LLC increased its position in Lam Research by 1.1% during the fourth quarter. Orion Portfolio Solutions LLC now owns 7,393 shares of the semiconductor company’s stock worth $5,598,000 after buying an additional 83 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LRCX has been the topic of a number of recent analyst reports. Barclays boosted their target price on Lam Research from $865.00 to $900.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 5th. TD Cowen upped their price target on shares of Lam Research from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. UBS Group cut their price objective on shares of Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $1,200.00 target price on shares of Lam Research in a research report on Thursday, August 1st. Finally, Morgan Stanley lowered their target price on Lam Research from $929.00 to $774.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 17th. Six equities 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,012.84.

Lam Research Stock Performance

Shares of NASDAQ:LRCX opened at $773.19 on Friday. The company’s 50 day simple moving average is $836.41 and its 200 day simple moving average is $925.53. 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 stock has a market capitalization of $101.09 billion, a price-to-earnings ratio of 28.44, a price-to-earnings-growth ratio of 1.48 and a beta of 1.48.

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

Lam Research (NASDAQ:LRCX) last released 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 for 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 last year, the firm posted $5.98 earnings per share. As a group, research analysts predict that Lam Research Co. will post 35.2 EPS for the current fiscal year.

Lam Research Increases Dividend

The business 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 $2.30 dividend. The ex-dividend date is Tuesday, September 17th. This represents a $9.20 dividend on an annualized basis and a yield of 1.19%. This is a positive change from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s dividend payout ratio (DPR) is currently 33.84%.

Insiders Place Their Bets

In related news, SVP Neil J. Fernandes sold 1,620 shares of the firm’s stock in a transaction 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 sale, the senior vice president now owns 5,237 shares of the company’s stock, valued at approximately $5,535,456.63. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Lam Research news, CEO Timothy Archer sold 9,650 shares of the company’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 completion of the transaction, the chief executive officer now directly owns 84,639 shares in the company, valued at approximately $90,596,739.21. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Neil J. Fernandes sold 1,620 shares of Lam Research stock in a transaction 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 transaction, the senior vice president now owns 5,237 shares in the company, valued at approximately $5,535,456.63. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,326 shares of company stock valued at $17,383,715. 0.32% of the stock is currently owned by insiders.

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.