Lam Research Co. (NASDAQ:LRCX) Stock Holdings Lifted by AE Wealth Management LLC

AE Wealth Management LLC lifted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 22.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 957 shares of the semiconductor company’s stock after buying an additional 176 shares during the period. AE Wealth Management LLC’s holdings in Lam Research were worth $1,019,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Lam Research

In other news, SVP Neil J. Fernandes sold 4,409 shares of Lam Research stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the completion of the sale, the senior vice president now directly owns 6,857 shares in the company, valued at approximately $7,239,346.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, SVP Neil J. Fernandes sold 4,409 shares of the firm’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the transaction, the senior vice president now owns 6,857 shares in the company, valued at approximately $7,239,346.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy Archer sold 9,650 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $1,070.39, for a total transaction of $10,329,263.50. Following the completion of 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. Insiders have sold 16,326 shares of company stock worth $17,383,715 over the last 90 days. 0.32% of the stock is currently owned by corporate insiders.

Lam Research Stock Performance

Shares of LRCX stock opened at $791.06 on Wednesday. The stock’s fifty day simple moving average is $825.01 and its 200-day simple moving average is $922.49. The company has a market capitalization of $103.42 billion, a price-to-earnings ratio of 29.09, a P/E/G 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. Lam Research Co. has a 1-year low of $574.42 and a 1-year high of $1,130.00.

Shares of Lam Research are going 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 distributed to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 EPS for the quarter, topping 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 business had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same period last year, the company posted $5.98 earnings per share. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. On average, sell-side analysts predict that Lam Research Co. will post 35.2 earnings per share for the current fiscal 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 given a dividend of $2.30 per share. This is a boost from Lam Research’s previous quarterly dividend of $2.00. The ex-dividend date is Tuesday, September 17th. This represents a $9.20 dividend on an annualized basis and a yield of 1.16%. Lam Research’s dividend payout ratio (DPR) is presently 33.84%.

Analysts Set New Price Targets

A number of analysts recently weighed in on LRCX shares. Mizuho dropped their price objective on shares of Lam Research from $1,050.00 to $950.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Citigroup cut 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. Needham & Company LLC reissued a “buy” rating and issued a $1,130.00 price objective on shares of Lam Research in a report on Thursday, August 1st. TD Cowen lifted their target price on 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. Finally, Wells Fargo & Company decreased their price target on 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. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.