Lam Research Co. (NASDAQ:LRCX) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its stake in Lam Research Co. (NASDAQ:LRCX) by 19.3% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 52,349 shares of the semiconductor company’s stock after selling 12,540 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Lam Research were worth $55,744,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. DSM Capital Partners LLC purchased a new stake in shares of Lam Research during the fourth quarter worth about $28,000. CarsonAllaria Wealth Management Ltd. purchased a new stake in Lam Research in the 2nd quarter worth approximately $32,000. RFP Financial Group LLC raised its holdings in Lam Research by 52.2% in the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 12 shares during the last quarter. Raleigh Capital Management Inc. lifted its stake in shares of Lam Research by 78.6% during the 4th quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 22 shares during the period. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Lam Research during the 2nd quarter worth $40,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Buying and Selling

In other news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $1,062.26, for a total value of $687,282.22. Following the sale, the chief accounting officer now owns 4,914 shares in the company, valued at approximately $5,219,945.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total value 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy Archer sold 9,650 shares of the firm’s 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 transaction, the chief executive officer now owns 84,639 shares in the company, valued at $90,596,739.21. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,326 shares of company stock worth $17,383,715. Insiders own 0.32% of the company’s stock.

Lam Research Price Performance

Shares of LRCX stock opened at $784.08 on Tuesday. Lam Research Co. has a twelve month low of $574.42 and a twelve month high of $1,130.00. The company has a market capitalization of $102.51 billion, a PE ratio of 28.84, a price-to-earnings-growth ratio of 1.48 and a beta of 1.48. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. The firm has a fifty day simple moving average of $830.71 and a 200-day simple moving average of $923.65.

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 created shares will be issued to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period in the previous year, the company earned $5.98 earnings per share. Equities research analysts anticipate that Lam Research Co. will post 35.2 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders 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 represents a $9.20 dividend on an annualized basis and a dividend yield of 1.17%. This is an increase from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s dividend payout ratio (DPR) is presently 33.84%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on LRCX shares. 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 note on Monday, September 16th. Wells Fargo & Company dropped their price objective 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 note on Thursday, August 1st. Morgan Stanley cut their price objective on shares of Lam Research from $929.00 to $774.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 17th. StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Finally, Mizuho cut their price target on shares of Lam Research from $1,050.00 to $950.00 and set an “outperform” rating on the stock in a research note on Friday. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,012.84.

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.