Nemes Rush Group LLC Sells 78 Shares of Lam Research Co. (NASDAQ:LRCX)

Nemes Rush Group LLC lessened its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 0.6% in the second quarter, Holdings Channel.com reports. The firm owned 13,547 shares of the semiconductor company’s stock after selling 78 shares during the period. Lam Research comprises about 2.0% of Nemes Rush Group LLC’s investment portfolio, making the stock its 14th biggest position. Nemes Rush Group LLC’s holdings in Lam Research were worth $14,425,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of LRCX. CarsonAllaria Wealth Management Ltd. bought a new position in Lam Research in the 2nd quarter worth approximately $32,000. RFP Financial Group LLC boosted its holdings in shares of Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 12 shares during the period. Hobbs Group Advisors LLC purchased a new position in shares of Lam Research in the second quarter valued at $40,000. Country Trust Bank bought a new stake in shares of Lam Research during the 2nd quarter valued at $43,000. Finally, MFA Wealth Advisors LLC purchased a new stake in Lam Research during the 2nd quarter worth about $45,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LRCX. Wells Fargo & Company reduced their target price on Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” 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 stock a “buy” rating in a report on Thursday, August 1st. B. Riley raised their price target on shares of Lam Research from $1,130.00 to $1,325.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Barclays upped their price target on shares of Lam Research from $865.00 to $900.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 5th. Finally, Citigroup dropped their price objective 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. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $1,012.84.

Insider Activity at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research 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 transaction, the chief accounting officer now directly owns 4,914 shares of the company’s stock, valued at approximately $5,219,945.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other 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 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 document filed with the SEC, which is accessible through the SEC website. Also, 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 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 $5,219,945.64. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.

Lam Research Stock Down 2.4 %

Shares of LRCX opened at $827.12 on Friday. Lam Research Co. has a 1 year low of $574.42 and a 1 year high of $1,130.00. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. The stock has a 50 day simple moving average of $817.83 and a two-hundred day simple moving average of $920.21. The firm has a market cap 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.

Lam Research’s stock is going 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 distributed to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 EPS for the quarter, beating the consensus estimate of $7.58 by $0.56. The company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the firm earned $5.98 EPS. On average, analysts forecast that Lam Research Co. will post 35.2 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Tuesday, September 17th. This is a positive change from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s payout ratio is 33.84%.

Lam Research Company 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.