Lighthouse Investment Partners LLC Makes New Investment in Lam Research Co. (NASDAQ:LRCX)

Lighthouse Investment Partners LLC acquired a new stake in shares of Lam Research Co. (NASDAQ:LRCX) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,500 shares of the semiconductor company’s stock, valued at approximately $1,597,000.

A number of other institutional investors have also made changes to their positions in the company. Symmetry Investments LP acquired a new position in Lam Research in the 2nd quarter worth $3,229,000. Cypress Capital Group lifted its stake in shares of Lam Research by 23.1% in the second quarter. Cypress Capital Group now owns 3,528 shares of the semiconductor company’s stock worth $3,757,000 after acquiring an additional 661 shares in the last quarter. Albar Capital Ltd purchased a new position in Lam Research in the second quarter valued at about $3,123,000. Meeder Advisory Services Inc. grew its stake 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 in the last quarter. Finally, Tairen Capital Ltd increased its holdings in Lam Research by 199.5% during the 2nd quarter. Tairen Capital Ltd now owns 163,605 shares of the semiconductor company’s stock worth $174,215,000 after purchasing an additional 108,973 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on LRCX shares. Wells Fargo & Company decreased their price target 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 report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Lam Research from $1,100.00 to $950.00 and set a “buy” rating for the company in a report on Thursday, August 1st. TD Cowen upped their target price on shares of 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. Citigroup decreased their price target 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. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $1,200.00 price objective on shares of Lam Research in a research note on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,012.84.

Lam Research Stock Down 2.4 %

LRCX stock opened at $827.12 on Friday. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. The firm’s 50-day simple moving average is $817.83 and its 200 day simple moving average is $920.21. The stock has a market cap of $108.14 billion, a PE ratio of 30.42, a price-to-earnings-growth ratio of 1.51 and a beta of 1.48. Lam Research Co. has a fifty-two week low of $574.42 and a fifty-two week high of $1,130.00.

Lam Research shares are scheduled 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 issued to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.58 by $0.56. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same period in the previous year, the firm posted $5.98 earnings per share. The business’s revenue was up 20.7% on a year-over-year basis. As a group, sell-side analysts predict that Lam Research Co. will post 35.2 EPS for the current 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 issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.11%. This is a positive change from Lam Research’s previous quarterly dividend of $2.00. The ex-dividend date is Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is 33.84%.

Insider Buying and Selling

In related news, SVP Neil J. Fernandes sold 1,620 shares of the stock in a transaction dated 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 completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Christina Correia sold 647 shares of the firm’s 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 owns 4,914 shares of the company’s stock, valued at $5,219,945.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Neil J. Fernandes sold 1,620 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was 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 owns 5,237 shares in the company, valued at $5,535,456.63. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.

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.