Lam Research Co. (NASDAQ:LRCX) Stake Boosted by Quarry LP

Quarry LP boosted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 175.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 88 shares of the semiconductor company’s stock after purchasing an additional 56 shares during the period. Quarry LP’s holdings in Lam Research were worth $94,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LRCX. CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Lam Research in the 2nd quarter valued at $32,000. RFP Financial Group LLC boosted its stake in shares of Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 12 shares in the last quarter. Raleigh Capital Management Inc. increased its holdings in shares of Lam Research by 78.6% during the 4th quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 22 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in shares of Lam Research in the 2nd quarter valued at approximately $40,000. Finally, Country Trust Bank acquired a new stake in Lam Research in the 2nd quarter worth approximately $43,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Activity at Lam Research

In other news, SVP Neil J. Fernandes sold 16,200 shares of the 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 sale, the senior vice president now owns 52,370 shares in the company, valued at $5,535,456.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Neil J. Fernandes sold 16,200 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $105.70, for a total value of $1,712,323.80. Following the completion of the sale, the senior vice president now owns 52,370 shares of the company’s stock, valued at $5,535,456.63. The sale 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 business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

Lam Research Trading Up 2.1 %

Shares of LRCX opened at $814.09 on Thursday. 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 stock has a market cap of $106.43 billion, a PE ratio of 29.94, a PEG ratio of 1.51 and a beta of 1.48. Lam Research Co. has a 1 year low of $574.42 and a 1 year high of $1,130.00.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.76 by $0.05. The company 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%. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.60 EPS. On average, sell-side analysts predict that Lam Research Co. will post 35.2 EPS for the current fiscal year.

Lam Research Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.92 dividend on an annualized basis and a yield of 0.11%. Lam Research’s dividend payout ratio (DPR) is presently 33.84%.

Wall Street Analyst Weigh In

LRCX has been the topic of a number of recent analyst reports. B. Riley lifted their price target on shares of Lam Research from $113.00 to $132.50 and gave the company a “buy” rating in a research report on Thursday, June 20th. Cantor Fitzgerald cut their target price on shares of Lam Research from $120.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday. StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Morgan Stanley cut their price objective on Lam Research from $92.90 to $77.40 and set an “equal weight” rating for the company in a research report on Tuesday, September 17th. Finally, UBS Group lowered 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. 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.com, Lam Research presently has a consensus rating of “Moderate Buy” and an average price target of $100.23.

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.