EDENTREE ASSET MANAGEMENT Ltd Has $798,000 Position in Lam Research Co. (NASDAQ:LRCX)

EDENTREE ASSET MANAGEMENT Ltd lessened its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 16.2% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 750 shares of the semiconductor company’s stock after selling 145 shares during the quarter. EDENTREE ASSET MANAGEMENT Ltd’s holdings in Lam Research were worth $798,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. CarsonAllaria Wealth Management Ltd. acquired a new stake in Lam Research during the 2nd quarter worth approximately $32,000. RFP Financial Group LLC increased its holdings in shares of Lam Research by 52.2% during 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. Hobbs Group Advisors LLC acquired a new stake in shares of Lam Research in the second quarter valued at approximately $40,000. Country Trust Bank bought a new stake in shares of Lam Research in the second quarter valued at approximately $43,000. Finally, MFA Wealth Advisors LLC acquired a new stake in Lam Research during the second quarter worth approximately $45,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Price Performance

Lam Research stock opened at $803.75 on Thursday. The stock has a 50-day moving average price of $825.01 and a two-hundred day moving average price of $922.49. Lam Research Co. has a 12 month low of $574.42 and a 12 month high of $1,130.00. The company has a market capitalization of $105.08 billion, a PE ratio of 29.56, a P/E/G ratio of 1.51 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’s stock is scheduled to split before the market opens on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be issued to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last posted its 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 for the quarter, compared to the consensus estimate of $3.82 billion. During the same period last year, the company earned $5.98 EPS. The firm’s revenue was up 20.7% compared to the same quarter last year. Analysts expect that Lam Research Co. will post 35.2 EPS for the current year.

Lam Research Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be paid a $2.30 dividend. 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 annualized dividend and a dividend yield of 1.14%. Lam Research’s payout ratio is currently 33.84%.

Insider Activity at Lam Research

In other Lam Research news, CEO Timothy Archer sold 9,650 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 84,639 shares in the company, valued at approximately $90,596,739.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Neil J. Fernandes sold 1,620 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 5,237 shares in the company, valued at approximately $5,535,456.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy Archer sold 9,650 shares of the 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 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 sold 11,917 shares of company stock worth $12,728,870 over the last three months. Company insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

LRCX has been the subject of a number of recent analyst reports. Raymond James upped their target price on Lam Research from $950.00 to $1,060.00 and gave the company an “outperform” rating in a research report on Friday, June 7th. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Cantor Fitzgerald reissued a “neutral” rating and issued a $1,200.00 target price on shares of Lam Research in a report on Thursday, August 1st. Morgan Stanley cut their price target on shares of Lam Research from $929.00 to $774.00 and set an “equal weight” rating for the company in a report on Tuesday, September 17th. Finally, Wells Fargo & Company decreased their price objective on shares of Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,012.84.

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.