Creative Planning Has $49.23 Million Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Creative Planning increased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 1.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,231 shares of the semiconductor company’s stock after acquiring an additional 639 shares during the period. Creative Planning’s holdings in Lam Research were worth $49,229,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Oliver Lagore Vanvalin Investment Group boosted its position in shares of Lam Research by 9.8% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 841 shares of the semiconductor company’s stock worth $896,000 after acquiring an additional 75 shares in the last quarter. Smith Thornton Advisors LLC bought a new position in Lam Research in the 2nd quarter valued at approximately $341,000. Scientech Research LLC lifted its stake in Lam Research by 82.8% in the 2nd quarter. Scientech Research LLC now owns 746 shares of the semiconductor company’s stock valued at $794,000 after purchasing an additional 338 shares during the last quarter. Lighthouse Investment Partners LLC bought a new position in Lam Research in the 2nd quarter valued at approximately $1,597,000. Finally, The Manufacturers Life Insurance Company lifted its stake in Lam Research by 9.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 118,390 shares of the semiconductor company’s stock valued at $126,068,000 after purchasing an additional 10,070 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Trading Down 2.4 %

NASDAQ:LRCX opened at $827.12 on Monday. 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 price-to-earnings ratio of 30.42, a PEG ratio of 1.51 and a beta of 1.48. The firm has a fifty day simple moving average of $817.83 and a two-hundred day simple moving average of $920.16. Lam Research Co. has a 12 month low of $574.42 and a 12 month high of $1,130.00.

Lam Research shares are going to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly issued shares will be payable to shareholders after the closing bell 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, beating analysts’ consensus estimates of $7.58 by $0.56. The firm had revenue of $3.87 billion during 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 revenue was up 20.7% on a year-over-year basis. During the same period last year, the company earned $5.98 earnings per share. Analysts expect that Lam Research Co. will post 35.2 EPS for the current fiscal year.

Lam Research Increases Dividend

The firm also recently disclosed 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 is a boost from Lam Research’s previous quarterly dividend of $2.00. 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. Lam Research’s dividend payout ratio (DPR) is currently 33.84%.

Insider Activity

In other news, SVP Neil J. Fernandes sold 1,620 shares of Lam Research 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 transaction, the senior vice president now directly owns 5,237 shares in the company, valued at $5,535,456.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

LRCX has been the subject of several research reports. Mizuho dropped their price objective on shares of Lam Research from $1,050.00 to $950.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Citigroup dropped their price objective on shares of Lam Research from $990.00 to $893.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Wells Fargo & Company dropped their price objective 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 note 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 research note on Thursday, June 20th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $1,200.00 price target on shares of Lam Research in a research note on Thursday, August 1st. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,012.84.

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.