Scientech Research LLC Grows Stock Position in Lam Research Co. (NASDAQ:LRCX)

Scientech Research LLC grew its position in shares of Lam Research Co. (NASDAQ:LRCX) by 82.8% during the second quarter, Holdings Channel reports. The institutional investor owned 746 shares of the semiconductor company’s stock after purchasing an additional 338 shares during the quarter. Scientech Research LLC’s holdings in Lam Research were worth $794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Symmetry Investments LP bought a new position in Lam Research during the second quarter worth about $3,229,000. Cypress Capital Group lifted its stake in shares of Lam Research by 23.1% during the 2nd quarter. Cypress Capital Group now owns 3,528 shares of the semiconductor company’s stock valued at $3,757,000 after buying an additional 661 shares in the last quarter. Albar Capital Ltd bought a new position in Lam Research in the 2nd quarter worth approximately $3,123,000. Meeder Advisory Services Inc. grew its stake in Lam Research by 29.4% in the 2nd quarter. Meeder Advisory Services Inc. now owns 3,022 shares of the semiconductor company’s stock valued at $3,218,000 after buying an additional 686 shares in the last quarter. Finally, Tairen Capital Ltd raised 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 valued at $174,215,000 after acquiring an additional 108,973 shares during the period. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

LRCX has been the subject of a number of analyst reports. B. Riley raised their price target on Lam Research from $1,130.00 to $1,325.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $1,200.00 target price on shares of Lam Research in a report on Thursday, August 1st. Raymond James upped their price target 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. UBS Group reduced their price objective on shares of Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Finally, Citigroup lowered their target price on shares of Lam Research from $990.00 to $893.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,012.84.

Lam Research Price Performance

LRCX opened at $827.12 on Friday. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $108.14 billion, a P/E ratio of 30.42, a PEG ratio of 1.51 and a beta of 1.48. The stock has a 50-day moving average price of $817.83 and a 200-day moving average price of $920.21. Lam Research Co. has a 12-month low of $574.42 and a 12-month high of $1,130.00.

Shares of Lam Research are set 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 closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 EPS for the quarter, beating analysts’ consensus estimates of $7.58 by $0.56. The business had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The business’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period last year, the business earned $5.98 earnings per share. Equities analysts predict 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. Shareholders of record on Tuesday, September 17th will be paid a $2.30 dividend. The ex-dividend date is Tuesday, September 17th. This is an increase from Lam Research’s previous quarterly dividend of $2.00. This represents a $9.20 annualized dividend and a yield of 1.11%. Lam Research’s payout ratio is currently 33.84%.

Insider Buying and Selling at Lam Research

In other news, 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 value of $1,712,323.80. Following the completion of the sale, the senior vice president now owns 5,237 shares of the company’s stock, valued at approximately $5,535,456.63. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Neil J. Fernandes sold 1,620 shares of the company’s 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 approximately $5,535,456.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Christina Correia sold 647 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $1,062.26, for a total transaction 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. Company insiders own 0.32% of the company’s stock.

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.