WINTON GROUP Ltd Takes Position in Lam Research Co. (NASDAQ:LRCX)

WINTON GROUP Ltd acquired a new stake in shares of Lam Research Co. (NASDAQ:LRCX) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 475 shares of the semiconductor company’s stock, valued at approximately $506,000.

Several other large investors also recently made changes to their positions in the business. Fortitude Family Office LLC boosted its position in shares of Lam Research by 16.7% during the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock valued at $67,000 after purchasing an additional 9 shares in the last quarter. Thomasville National Bank boosted its position in shares of Lam Research by 1.5% during the 2nd quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock valued at $865,000 after purchasing an additional 12 shares in the last quarter. Ignite Planners LLC boosted its position in shares of Lam Research by 2.8% during the 2nd quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock valued at $484,000 after purchasing an additional 12 shares in the last quarter. U.S. Capital Wealth Advisors LLC lifted its stake in Lam Research by 3.7% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock valued at $357,000 after buying an additional 12 shares in the last quarter. Finally, RFP Financial Group LLC lifted its stake in 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 buying an additional 12 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Insider Activity at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total value of $687,282.22. Following the transaction, the chief accounting officer now owns 4,914 shares of the company’s stock, valued at $5,219,945.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Lam Research news, CAO Christina Correia sold 647 shares of the company’s 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 value of $687,282.22. Following the completion of the sale, the chief accounting officer now owns 4,914 shares of the company’s stock, valued at $5,219,945.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy Archer sold 9,650 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 84,639 shares of the company’s stock, valued at approximately $90,596,739.21. The disclosure for this sale can be found here. Insiders have sold 16,326 shares of company stock worth $17,383,715 over the last ninety days. Company insiders own 0.32% of the company’s stock.

Lam Research Stock Up 1.3 %

NASDAQ LRCX opened at $766.04 on Wednesday. The company has a market capitalization of $100.15 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 1.48 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. The stock’s 50 day moving average is $855.19 and its two-hundred day moving average is $929.39. 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’s stock is set 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 payable to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last released 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. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The business had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.82 billion. During the same period in the prior year, the firm earned $5.98 earnings per share. Lam Research’s revenue was up 20.7% compared to the same quarter last year. Equities analysts forecast that Lam Research Co. will post 35.2 earnings per share for the current fiscal year.

Lam Research announced that its Board of Directors has approved a stock buyback plan on Tuesday, May 21st that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to reacquire up to 8.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Lam Research Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders 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 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Tuesday, September 17th. Lam Research’s payout ratio is currently 33.84%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LRCX. B. Riley raised their price objective on shares of Lam Research from $1,130.00 to $1,325.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Barclays increased their price target on Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a report on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft lowered their price target 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. UBS Group lowered their price target on Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Finally, Morgan Stanley lowered their price target on Lam Research from $929.00 to $774.00 and set an “equal weight” rating on the stock in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,013.37.

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.