Evergreen Capital Management LLC Increases Holdings in Lam Research Co. (NASDAQ:LRCX)

Evergreen Capital Management LLC lifted its position in Lam Research Co. (NASDAQ:LRCX) by 12.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 852 shares of the semiconductor company’s stock after purchasing an additional 93 shares during the period. Evergreen Capital Management LLC’s holdings in Lam Research were worth $909,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Symmetry Investments LP bought a new position in Lam Research in the second quarter worth approximately $3,229,000. Cypress Capital Group raised its stake in Lam Research by 23.1% in the second quarter. Cypress Capital Group now owns 3,528 shares of the semiconductor company’s stock worth $3,757,000 after buying an additional 661 shares in the last quarter. Meeder Advisory Services Inc. raised its stake in Lam Research by 29.4% in the second quarter. Meeder Advisory Services Inc. now owns 3,022 shares of the semiconductor company’s stock worth $3,218,000 after buying an additional 686 shares in the last quarter. Brookstone Capital Management increased its position in shares of Lam Research by 142.6% during the second quarter. Brookstone Capital Management now owns 1,601 shares of the semiconductor company’s stock worth $1,705,000 after purchasing an additional 941 shares in the last quarter. Finally, FineMark National Bank & Trust increased its position in shares of Lam Research by 14.5% during the second quarter. FineMark National Bank & Trust now owns 474 shares of the semiconductor company’s stock worth $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.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on LRCX shares. B. Riley upped 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. TD Cowen upped their price target on Lam Research from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report 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. Barclays upped 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. Finally, Morgan Stanley reduced their price target on Lam Research from $929.00 to $774.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 17th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,012.84.

Lam Research Price Performance

NASDAQ:LRCX opened at $791.06 on Wednesday. The firm’s fifty day moving average is $825.01 and its two-hundred day moving average is $922.49. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. Lam Research Co. has a one year low of $574.42 and a one year high of $1,130.00. The firm has a market cap of $102.74 billion, a price-to-earnings ratio of 29.09, a PEG ratio of 1.51 and a beta of 1.48.

Shares of Lam Research are scheduled 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 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. 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 analyst estimates of $3.82 billion. During the same period in the prior year, the company posted $5.98 EPS. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. Research analysts expect that Lam Research Co. will post 35.2 EPS for the current year.

Lam Research Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be paid a $2.30 dividend. The ex-dividend date of this dividend is Tuesday, September 17th. This is a positive change from Lam Research’s previous quarterly dividend of $2.00. This represents a $9.20 dividend on an annualized basis and a yield of 1.16%. Lam Research’s dividend payout ratio (DPR) is currently 33.84%.

Insider Activity at Lam Research

In related news, SVP Neil J. Fernandes sold 4,409 shares of the firm’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 transaction, the senior vice president now directly owns 6,857 shares of the company’s stock, valued at approximately $7,239,346.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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. Also, 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 of the company’s stock, valued at approximately $7,239,346.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,326 shares of company stock valued at $17,383,715. 0.32% of the stock is 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.