DRW Securities LLC Has $844,000 Holdings in Lam Research Co. (NASDAQ:LRCX)

DRW Securities LLC grew its stake in Lam Research Co. (NASDAQ:LRCX) by 205.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 791 shares of the semiconductor company’s stock after purchasing an additional 532 shares during the period. DRW Securities LLC’s holdings in Lam Research were worth $844,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. CarsonAllaria Wealth Management Ltd. bought a new position in Lam Research during the second quarter valued at about $32,000. RFP Financial Group LLC lifted its position 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 purchasing an additional 12 shares during the period. DSM Capital Partners LLC bought a new stake in Lam Research in the 4th quarter valued at $28,000. Hobbs Group Advisors LLC acquired a new position in shares of Lam Research in the 2nd quarter valued at $40,000. Finally, Country Trust Bank acquired a new stake in Lam Research during the second quarter valued at approximately $43,000. Institutional investors own 84.61% of the company’s stock.

Insider Activity

In related news, CAO Christina Correia sold 647 shares of the 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 transaction, the chief accounting officer now directly owns 4,914 shares in the company, valued at $5,219,945.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, SVP Neil J. Fernandes sold 1,620 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $1,056.99, for a total value of $1,712,323.80. Following the sale, the senior vice president now owns 5,237 shares of the company’s stock, valued at $5,535,456.63. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the completion of the transaction, the chief accounting officer now directly owns 4,914 shares of the company’s stock, valued at approximately $5,219,945.64. The disclosure for this sale can be found here. Insiders have sold a total of 16,326 shares of company stock worth $17,383,715 over the last three months. Corporate insiders own 0.32% of the company’s stock.

Lam Research Trading Down 2.0 %

NASDAQ:LRCX opened at $773.19 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. The business’s 50-day simple moving average is $836.41 and its 200-day simple moving average is $925.14. Lam Research Co. has a fifty-two week low of $574.42 and a fifty-two week high of $1,130.00. The stock has a market capitalization of $101.09 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 1.48 and a beta of 1.48.

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

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results 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. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter in the prior year, the company earned $5.98 earnings per share. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. Sell-side analysts expect that Lam Research Co. will post 35.2 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be paid 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 annualized dividend and a dividend yield of 1.19%. Lam Research’s dividend payout ratio (DPR) is currently 33.84%.

Analyst Ratings Changes

Several analysts recently commented on LRCX shares. Barclays boosted their price target 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. Deutsche Bank Aktiengesellschaft decreased 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. B. Riley lifted their target price on shares of Lam Research from $1,130.00 to $1,325.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Morgan Stanley decreased their price target on Lam Research from $929.00 to $774.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 17th. Finally, Wells Fargo & Company cut 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. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,012.84.

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.