Mount Yale Investment Advisors LLC Reduces Stock Position in Lam Research Co. (NASDAQ:LRCX)

Mount Yale Investment Advisors LLC cut its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 13.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 262 shares of the semiconductor company’s stock after selling 42 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Lam Research were worth $279,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CarsonAllaria Wealth Management Ltd. purchased a new stake in Lam Research during the second quarter valued at $32,000. RFP Financial Group LLC increased its position in shares of Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 12 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in shares of Lam Research in the 2nd quarter worth approximately $40,000. Country Trust Bank purchased a new position in shares of Lam Research in the second quarter worth approximately $43,000. Finally, MFA Wealth Advisors LLC bought a new stake in Lam Research during the second quarter valued at approximately $45,000. 84.61% of the stock is owned by institutional investors.

Insider Buying and Selling at Lam Research

In other news, CAO Christina Correia sold 647 shares of Lam Research 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 value of $687,282.22. Following the completion of the transaction, the chief accounting officer now owns 4,914 shares in the company, valued at approximately $5,219,945.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total value of $687,282.22. Following the completion of the sale, the chief accounting officer now directly owns 4,914 shares in the company, valued at $5,219,945.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Neil J. Fernandes sold 1,620 shares of the business’s stock in a transaction on Friday, July 12th. The shares were 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 owns 5,237 shares in the company, valued at approximately $5,535,456.63. The disclosure for this sale can be found here. Insiders have sold a total of 16,326 shares of company stock worth $17,383,715 over the last ninety days. Company insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on LRCX shares. Cantor Fitzgerald reiterated a “neutral” rating and issued a $1,200.00 price target on shares of Lam Research in a research report on Thursday, August 1st. Needham & Company LLC reissued a “buy” rating and set a $1,130.00 price target on shares of Lam Research in a report on Thursday, August 1st. Wells Fargo & Company reduced their price target on Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. Barclays lifted their price objective on Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 5th. Finally, UBS Group reduced their target price on shares of Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,012.84.

Lam Research Price Performance

Shares of Lam Research stock opened at $791.06 on Wednesday. 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 12 month low of $574.42 and a 12 month high of $1,130.00. The stock has a 50 day moving average of $825.01 and a 200 day moving average of $922.49. The firm has a market cap of $103.42 billion, a PE ratio of 29.09, a PEG ratio of 1.48 and a beta of 1.48.

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

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the prior year, the firm earned $5.98 earnings per share. Lam Research’s revenue was up 20.7% on a year-over-year basis. On average, research analysts expect that Lam Research Co. will post 35.2 EPS for the current fiscal year.

Lam Research Increases Dividend

The business also recently disclosed 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. This represents a $9.20 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Tuesday, September 17th. Lam Research’s payout ratio 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.