Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans increased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 6.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,655 shares of the semiconductor company’s stock after acquiring an additional 2,288 shares during the period. Thrivent Financial for Lutherans’ holdings in Lam Research were worth $37,967,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Fortitude Family Office LLC grew its holdings in Lam Research by 16.7% during the second quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock worth $67,000 after acquiring an additional 9 shares during the period. Thomasville National Bank grew its holdings in Lam Research by 1.5% during the second 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 grew its holdings in Lam Research by 2.8% during the second 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 grew its holdings 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 worth $357,000 after acquiring an additional 12 shares during the period. Finally, RFP Financial Group LLC boosted its position in Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 12 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Neil J. Fernandes sold 1,620 shares of Lam Research stock in a transaction on Friday, July 12th. The stock was 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 directly owns 5,237 shares of the company’s stock, valued at $5,535,456.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Neil J. Fernandes sold 4,409 shares of Lam Research 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 completion of the sale, the senior vice president now directly 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 this link. Also, SVP Neil J. Fernandes sold 1,620 shares of Lam Research stock in a transaction 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 directly owns 5,237 shares of the company’s stock, valued at $5,535,456.63. The disclosure for this sale can be found here. Insiders sold a total of 16,326 shares of company stock valued at $17,383,715 over the last quarter. 0.32% of the stock is owned by insiders.

Lam Research Stock Performance

Shares of Lam Research stock opened at $773.19 on Monday. Lam Research Co. has a one year low of $574.42 and a one year high of $1,130.00. The company has a market cap of $101.09 billion, a price-to-earnings ratio of 28.44, a PEG ratio of 1.48 and a beta of 1.48. 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 business’s 50 day moving average price is $836.41 and its 200 day moving average price is $925.14.

Shares of Lam Research are scheduled to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be distributed to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the firm earned $5.98 earnings per share. On average, research analysts predict that Lam Research Co. will post 35.2 EPS for the current year.

Lam Research Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be paid a dividend of $2.30 per share. This is a boost 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 annualized dividend and a yield of 1.19%. Lam Research’s dividend payout ratio (DPR) is 33.84%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on LRCX shares. Barclays increased their price target on Lam Research from $865.00 to $900.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 5th. Needham & Company LLC reiterated a “buy” rating and set a $1,130.00 price target on shares of Lam Research in a research report on Thursday, August 1st. B. Riley increased their price target on Lam Research from $1,130.00 to $1,325.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. 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 research report on Thursday, August 1st. Finally, StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,012.84.

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.