Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC raised its stake in Lam Research Co. (NASDAQ:LRCX) by 22.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 2,406 shares of the semiconductor company’s stock after purchasing an additional 449 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Lam Research were worth $2,562,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of LRCX. Cypress Capital Group grew its stake in shares of Lam Research by 23.1% in the second quarter. Cypress Capital Group now owns 3,528 shares of the semiconductor company’s stock valued at $3,757,000 after buying an additional 661 shares in the last quarter. Symmetry Investments LP acquired a new position in Lam Research in the 2nd quarter valued at about $3,229,000. Meeder Advisory Services Inc. increased its stake in Lam Research by 29.4% during the second quarter. Meeder Advisory Services Inc. now owns 3,022 shares of the semiconductor company’s stock worth $3,218,000 after purchasing an additional 686 shares during the period. Brookstone Capital Management boosted its stake in shares of Lam Research by 142.6% in the second quarter. Brookstone Capital Management now owns 1,601 shares of the semiconductor company’s stock valued at $1,705,000 after purchasing an additional 941 shares during the period. Finally, FineMark National Bank & Trust grew its holdings in shares of Lam Research by 14.5% in the second quarter. FineMark National Bank & Trust now owns 474 shares of the semiconductor company’s stock valued at $505,000 after purchasing an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling at Lam Research

In other news, SVP Neil J. Fernandes sold 4,409 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the completion of the sale, the senior vice president now owns 6,857 shares in the company, valued at $7,239,346.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Timothy Archer sold 9,650 shares of the business’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 value of $10,329,263.50. Following the transaction, the chief executive officer now owns 84,639 shares of the company’s stock, valued at $90,596,739.21. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Neil J. Fernandes sold 4,409 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total value of $4,654,845.84. Following the sale, the senior vice president now directly owns 6,857 shares of the company’s stock, valued at $7,239,346.32. 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 company insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on LRCX. Mizuho reduced their target price on shares of Lam Research from $1,050.00 to $950.00 and set an “outperform” rating on the stock in a report on Friday. Wells Fargo & Company decreased their target price on Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. 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. Citigroup reduced their price target on Lam Research from $990.00 to $893.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Finally, UBS Group lowered their price objective on Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,012.84.

Lam Research Stock Performance

NASDAQ LRCX opened at $773.19 on Friday. The company has a fifty day moving average of $836.41 and a two-hundred day moving average of $925.53. The company 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. Lam Research Co. has a 1 year low of $574.42 and a 1 year high of $1,130.00. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00.

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

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share for the quarter, beating analysts’ consensus estimates of $7.58 by $0.56. The company 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 revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.98 earnings per share. As a group, analysts expect that Lam Research Co. will post 35.2 earnings per share for the current year.

Lam Research Increases Dividend

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

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.