Lam Research Co. (NASDAQ:LRCX) Holdings Reduced by Brighton Jones LLC

Brighton Jones LLC decreased its position in Lam Research Co. (NASDAQ:LRCX) by 21.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,276 shares of the semiconductor company’s stock after selling 340 shares during the period. Brighton Jones LLC’s holdings in Lam Research were worth $1,358,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Fortitude Family Office LLC grew its position in Lam Research by 16.7% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock worth $67,000 after purchasing an additional 9 shares during the last quarter. Thomasville National Bank lifted its stake in shares of Lam Research by 1.5% in the 2nd quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock worth $865,000 after acquiring an additional 12 shares during the period. Ignite Planners LLC lifted its stake in shares of Lam Research by 2.8% in the 2nd quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock worth $484,000 after acquiring an additional 12 shares during the period. U.S. Capital Wealth Advisors LLC lifted its stake in shares of Lam Research by 3.7% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock worth $357,000 after acquiring an additional 12 shares during the period. Finally, RFP Financial Group LLC lifted its stake in shares of Lam Research by 52.2% in 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 during the period. Institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,130.00 price target on shares of Lam Research in a research note on Thursday, August 1st. Morgan Stanley reduced their price target on shares of Lam Research from $929.00 to $774.00 and set an “equal weight” rating for the company in a research note on Tuesday. Barclays upped their price target on shares of Lam Research from $865.00 to $900.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 5th. Raymond James upped their price target on shares of Lam Research from $950.00 to $1,060.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $1,200.00 target price on shares of Lam Research in a research note on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,012.84.

Lam Research Trading Down 2.0 %

Lam Research stock opened at $773.19 on Friday. The company has a 50 day moving average price of $836.41 and a 200 day moving average price of $925.79. Lam Research Co. has a 52 week low of $574.42 and a 52 week high of $1,130.00. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. The firm has a market capitalization of $101.09 billion, a price-to-earnings ratio of 28.44, a P/E/G ratio of 1.48 and a beta of 1.48.

Lam Research’s stock is scheduled to split before the market opens on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly issued shares will be issued to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $8.14 EPS for the quarter, topping analysts’ consensus estimates of $7.58 by $0.56. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The firm had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.82 billion. During the same quarter last year, the business posted $5.98 EPS. The company’s revenue was up 20.7% on a year-over-year basis. Research analysts forecast that Lam Research Co. will post 35.2 EPS for the current year.

Lam Research Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be given a $2.30 dividend. This is an increase from Lam Research’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $9.20 dividend on an annualized basis and a yield of 1.19%. Lam Research’s dividend payout ratio is presently 33.84%.

Insiders Place Their Bets

In other Lam Research news, SVP Neil J. Fernandes sold 1,620 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $1,056.99, for a total value of $1,712,323.80. Following the completion of the sale, the senior vice president now owns 5,237 shares in the company, valued at approximately $5,535,456.63. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Lam Research news, SVP Neil J. Fernandes sold 1,620 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $1,056.99, for a total value of $1,712,323.80. Following the completion of the sale, the senior vice president now owns 5,237 shares in the company, valued at approximately $5,535,456.63. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Christina Correia sold 647 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total transaction 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 approximately $5,219,945.64. The disclosure for this sale can be found here. Insiders sold a total of 16,326 shares of company stock worth $17,383,715 in the last quarter. 0.32% of the stock is currently owned by corporate insiders.

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.