Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Profund Advisors LLC

Profund Advisors LLC increased its position in Lam Research Co. (NASDAQ:LRCX) by 5.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,365 shares of the semiconductor company’s stock after acquiring an additional 1,189 shares during the period. Lam Research makes up about 0.8% of Profund Advisors LLC’s portfolio, making the stock its 18th biggest holding. Profund Advisors LLC’s holdings in Lam Research were worth $22,751,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Lam Research in the second quarter worth about $32,000. RFP Financial Group LLC raised its position in 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 buying an additional 12 shares during the last quarter. DSM Capital Partners LLC acquired a new stake in Lam Research during the 4th quarter valued at approximately $28,000. Hobbs Group Advisors LLC purchased a new stake in shares of Lam Research in the 2nd quarter valued at $40,000. Finally, Country Trust Bank purchased a new stake in shares of Lam Research in the 2nd quarter valued at $43,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Lam Research from $1,100.00 to $950.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Citigroup decreased their price objective on Lam Research from $990.00 to $893.00 and set a “buy” rating for the company in a report on Monday, September 16th. Barclays raised their target price on Lam Research from $865.00 to $900.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 5th. Morgan Stanley decreased their price target on Lam Research from $929.00 to $774.00 and set an “equal weight” rating for the company in a report on Tuesday, September 17th. Finally, UBS Group lowered their price objective on Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and an average price target of $1,012.84.

Lam Research Trading Down 2.0 %

Shares of Lam Research stock opened at $773.19 on Friday. 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 twelve month low of $574.42 and a twelve month high of $1,130.00. The firm has a market capitalization of $101.09 billion, a PE ratio of 28.44, a P/E/G ratio of 1.48 and a beta of 1.48. The firm’s 50-day moving average price is $836.41 and its 200 day moving average price is $925.53.

Shares of Lam Research are set to split before the market opens on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly created shares will be issued to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 EPS for the quarter, topping the consensus estimate of $7.58 by $0.56. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The firm had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same period in the previous year, the business earned $5.98 earnings per share. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, sell-side analysts predict that Lam Research Co. will post 35.2 EPS for the current fiscal year.

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 paid a $2.30 dividend. This is an increase from Lam Research’s previous quarterly dividend of $2.00. This represents a $9.20 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is currently 33.84%.

Insider Buying and Selling

In other Lam Research news, SVP Neil J. Fernandes sold 1,620 shares of the stock in a transaction dated 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 hyperlink. In related news, SVP Neil J. Fernandes sold 4,409 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total value of $4,654,845.84. Following the completion of the sale, the senior vice president now owns 6,857 shares of the company’s stock, valued at $7,239,346.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Neil J. Fernandes sold 1,620 shares of Lam Research stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $1,056.99, for a total transaction of $1,712,323.80. Following the transaction, the senior vice president now directly owns 5,237 shares in the company, valued at $5,535,456.63. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,326 shares of company stock worth $17,383,715. 0.32% of the stock is owned by 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.