Alternative Investment Advisors LLC. Makes New Investment in Lam Research Co. (NASDAQ:LRCX)

Alternative Investment Advisors LLC. acquired a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the second quarter, Holdings Channel reports. The fund acquired 2,351 shares of the semiconductor company’s stock, valued at approximately $2,507,000. Lam Research comprises 1.4% of Alternative Investment Advisors LLC.’s investment portfolio, making the stock its 16th biggest position.

Several other institutional investors have also made changes to their positions in the business. CarsonAllaria Wealth Management Ltd. bought a new stake in Lam Research in the second quarter valued at $32,000. RFP Financial Group LLC lifted its holdings in shares of Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 12 shares during the period. Raleigh Capital Management Inc. boosted its stake in shares of Lam Research by 78.6% in the 4th quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 22 shares in the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of Lam Research in the 2nd quarter worth about $40,000. Finally, Country Trust Bank acquired a new stake in shares of Lam Research during the 2nd quarter worth about $43,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Trading Up 2.1 %

NASDAQ LRCX opened at $814.09 on Thursday. Lam Research Co. has a 12 month low of $574.42 and a 12 month high of $1,130.00. The stock has a 50-day simple moving average of $95.60 and a 200 day simple moving average of $96.91. 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 company has a market capitalization of $106.43 billion, a PE ratio of 29.94, a P/E/G ratio of 1.51 and a beta of 1.48.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.05. The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. Lam Research’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period last year, the company posted $0.60 EPS. Research analysts forecast that Lam Research Co. will post 35.2 EPS for the current year.

Lam Research Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.11%. The ex-dividend date was Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is 33.84%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on LRCX shares. Morgan Stanley reduced their price target on shares of Lam Research from $92.90 to $77.40 and set an “equal weight” rating on the stock in a research report on Tuesday, September 17th. UBS Group reduced their target price on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Raymond James raised their price target on Lam Research from $95.00 to $106.00 and gave the company an “outperform” rating in a report on Friday, June 7th. Wells Fargo & Company reduced their price objective on Lam Research from $110.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. Finally, Barclays raised their target price on Lam Research from $86.50 to $90.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 5th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.23.

Insider Activity at Lam Research

In other Lam Research news, SVP Neil J. Fernandes sold 16,200 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $105.70, for a total value of $1,712,323.80. Following the completion of the transaction, the senior vice president now directly owns 52,370 shares of the company’s stock, valued at $5,535,456.63. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the sale, the chief accounting officer now directly owns 4,267 shares in the company, valued at $3,488,315.17. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Neil J. Fernandes sold 16,200 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $105.70, for a total transaction of $1,712,323.80. Following the completion of the transaction, the senior vice president now directly owns 52,370 shares of the company’s stock, valued at $5,535,456.63. The disclosure for this sale can be found here. 0.32% of the stock is owned by corporate insiders.

Lam Research 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.