Beaird Harris Wealth Management LLC Sells 44 Shares of Lam Research Co. (NASDAQ:LRCX)

Beaird Harris Wealth Management LLC cut its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 28.8% during the second quarter, Holdings Channel.com reports. The fund owned 109 shares of the semiconductor company’s stock after selling 44 shares during the period. Beaird Harris Wealth Management LLC’s holdings in Lam Research were worth $116,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Gryphon Financial Partners LLC purchased a new stake in shares of Lam Research during the 4th quarter valued at about $476,000. Stifel Financial Corp raised its position in Lam Research by 9.4% in the 4th quarter. Stifel Financial Corp now owns 76,771 shares of the semiconductor company’s stock worth $60,154,000 after purchasing an additional 6,571 shares during the period. Avestar Capital LLC lifted its stake in Lam Research by 64.1% in the fourth quarter. Avestar Capital LLC now owns 535 shares of the semiconductor company’s stock worth $420,000 after purchasing an additional 209 shares during the last quarter. Gold Investment Management Ltd. bought a new stake in shares of Lam Research during the 4th quarter worth approximately $495,000. Finally, Relative Value Partners Group LLC purchased a new stake in Lam Research in the fourth quarter worth $232,000. Institutional investors own 84.61% of the company’s stock.

Insider Activity

In other news, SVP Neil J. Fernandes sold 1,620 shares of Lam Research stock in a transaction on Friday, July 12th. The shares were sold at an average price of $1,056.99, for a total transaction of $1,712,323.80. Following the completion of the sale, the senior vice president now directly owns 5,237 shares in the company, valued at $5,535,456.63. The transaction was disclosed in a legal 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 stock in a transaction dated Friday, July 12th. The stock was 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 directly owns 5,237 shares of the company’s stock, valued at $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, 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 value of $687,282.22. Following the sale, 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. Corporate insiders own 0.32% of the company’s stock.

Lam Research Stock Down 2.4 %

NASDAQ:LRCX opened at $827.12 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. The stock has a market capitalization of $108.14 billion, a P/E ratio of 30.42, a P/E/G ratio of 1.51 and a beta of 1.48. The company’s 50-day simple moving average is $819.63 and its 200-day simple moving average is $921.14. Lam Research Co. has a fifty-two week low of $574.42 and a fifty-two week high of $1,130.00.

Shares of Lam Research are scheduled to split before the market opens on 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 issued its quarterly 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 the consensus estimate of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The business’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the firm posted $5.98 earnings per share. On average, equities analysts anticipate that Lam Research Co. will post 35.2 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be paid a dividend of $2.30 per share. This is a positive change 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 dividend yield of 1.11%. Lam Research’s payout ratio is presently 33.84%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Barclays boosted their price objective on shares of Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 5th. Citigroup lowered their price target on Lam Research from $990.00 to $893.00 and set a “buy” rating for the company in a report on Monday, September 16th. UBS Group reduced their price objective on Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Morgan Stanley decreased their target price on Lam Research from $929.00 to $774.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 17th. Finally, TD Cowen increased their price target on Lam Research from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.