Lam Research Co. (NASDAQ:LRCX) Position Raised by Benjamin Edwards Inc.

Benjamin Edwards Inc. raised its stake in Lam Research Co. (NASDAQ:LRCX) by 5.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 320 shares of the semiconductor company’s stock after buying an additional 17 shares during the quarter. Benjamin Edwards Inc.’s holdings in Lam Research were worth $341,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Lam Research by 1.2% in the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after buying an additional 144,914 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Lam Research by 3.0% in the fourth quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock valued at $2,329,037,000 after buying an additional 86,721 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Lam Research by 5.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock valued at $2,875,023,000 after buying an additional 142,903 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Lam Research by 7.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock valued at $1,335,522,000 after purchasing an additional 89,470 shares during the period. Finally, Van ECK Associates Corp increased its holdings in shares of Lam Research by 11.1% during the second quarter. Van ECK Associates Corp now owns 1,075,893 shares of the semiconductor company’s stock valued at $1,145,664,000 after purchasing an additional 107,778 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on LRCX shares. Raymond James raised their price target on Lam Research from $950.00 to $1,060.00 and gave the company an “outperform” rating in a report on Friday, June 7th. Barclays raised their price target on Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a report on Wednesday, June 5th. 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. Citigroup lowered their price target on Lam Research from $990.00 to $893.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Finally, B. Riley lifted their target price on Lam Research from $1,130.00 to $1,325.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,012.84.

Lam Research Trading Down 2.0 %

Shares of LRCX opened at $773.19 on Friday. The business’s 50-day moving average price is $836.41 and its 200 day moving average price is $925.53. The stock has a market capitalization of $101.09 billion, a P/E ratio of 28.44, a P/E/G ratio of 1.48 and a beta of 1.48. Lam Research Co. has a 1-year low of $574.42 and a 1-year 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 set 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 announced its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $8.14 EPS for the quarter, topping 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 firm had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.82 billion. During the same period last year, the company posted $5.98 EPS. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. Analysts expect that Lam Research Co. will post 35.2 earnings per share for the current year.

Lam Research Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, September 17th. This is a positive change 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%. Lam Research’s dividend payout ratio (DPR) is presently 33.84%.

Insiders Place Their Bets

In other news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the completion of the sale, the chief accounting officer now directly owns 4,914 shares in the company, valued at approximately $5,219,945.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the completion of the sale, the chief accounting officer now directly owns 4,914 shares in the company, valued at approximately $5,219,945.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Timothy Archer sold 9,650 shares of Lam Research 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 sale, the chief executive officer now owns 84,639 shares of the company’s stock, valued at $90,596,739.21. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,326 shares of company stock worth $17,383,715. 0.32% of the stock is currently owned by company insiders.

About Lam Research

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.