Lam Research Co. (NASDAQ:LRCX) Holdings Lowered by Blue Bell Private Wealth Management LLC

Blue Bell Private Wealth Management LLC cut its stake in Lam Research Co. (NASDAQ:LRCX) by 35.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141 shares of the semiconductor company’s stock after selling 78 shares during the period. Blue Bell Private Wealth Management LLC’s holdings in Lam Research were worth $150,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Lam Research by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after acquiring an additional 144,914 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Lam Research by 3.0% in the 4th quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock worth $2,329,037,000 after purchasing an additional 86,721 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Lam Research by 5.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock valued at $2,875,023,000 after purchasing an additional 142,903 shares during the last quarter. Norges Bank bought a new stake in Lam Research during the fourth quarter worth approximately $1,414,111,000. Finally, Van ECK Associates Corp grew its position in Lam Research by 11.1% in the second quarter. Van ECK Associates Corp now owns 1,075,893 shares of the semiconductor company’s stock worth $1,145,664,000 after buying an additional 107,778 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Activity at Lam Research

In other Lam Research news, CEO Timothy Archer sold 9,650 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $1,070.39, for a total transaction of $10,329,263.50. Following the transaction, the chief executive officer now directly owns 84,639 shares of the company’s stock, valued at $90,596,739.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Lam Research news, CEO Timothy Archer sold 9,650 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $1,070.39, for a total transaction of $10,329,263.50. Following the completion of the sale, the chief executive officer now owns 84,639 shares of the company’s stock, valued at $90,596,739.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 4,914 shares in the company, valued at approximately $5,219,945.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,326 shares of company stock valued at $17,383,715. Insiders own 0.32% of the company’s stock.

Lam Research Price Performance

LRCX opened at $733.83 on Friday. The stock has a fifty day moving average price of $901.71 and a 200 day moving average price of $938.10. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. Lam Research Co. has a 1 year low of $574.42 and a 1 year high of $1,130.00. The stock has a market cap of $95.94 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 1.58 and a beta of 1.48.

Lam Research shares are scheduled to split on the morning of 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 announced its quarterly 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 business had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.98 EPS. Analysts forecast that Lam Research Co. will post 35.2 EPS for the current fiscal year.

Lam Research declared that its board has approved a share repurchase program on Tuesday, May 21st that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to purchase up to 8.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Lam Research Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.25%. This is an increase from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s dividend payout ratio (DPR) is currently 33.84%.

Wall Street Analysts Forecast Growth

LRCX has been the subject of several research reports. Jefferies Financial Group initiated coverage on Lam Research in a research note on Monday, May 13th. They set a “buy” rating and a $1,100.00 price objective for the company. Citigroup decreased their price target on Lam Research from $1,025.00 to $990.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft cut their price objective on Lam Research from $1,100.00 to $950.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $1,130.00 target price on shares of Lam Research in a research report on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,006.10.

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.