AQR Capital Management LLC Has $221.15 Million Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

AQR Capital Management LLC raised its stake in Lam Research Co. (NASDAQ:LRCX) by 24.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 207,686 shares of the semiconductor company’s stock after purchasing an additional 40,907 shares during the period. AQR Capital Management LLC owned 0.16% of Lam Research worth $221,154,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CarsonAllaria Wealth Management Ltd. acquired a new position in Lam Research in the 2nd quarter valued at about $32,000. RFP Financial Group LLC increased its stake in shares of 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 during the period. Raleigh Capital Management Inc. lifted its holdings in Lam Research by 78.6% during the 4th quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 22 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in Lam Research in the 2nd quarter valued at $40,000. Finally, Country Trust Bank acquired a new position in Lam Research in the 2nd quarter valued at $43,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on LRCX shares. Mizuho reduced their target price on shares of Lam Research from $1,050.00 to $950.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Morgan Stanley lowered their price objective on Lam Research from $929.00 to $774.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 17th. Raymond James lifted their price objective on Lam Research from $950.00 to $1,060.00 and gave the company an “outperform” rating in a report on Friday, June 7th. TD Cowen raised 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. Finally, Barclays boosted their price target on Lam Research from $865.00 to $900.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 5th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,012.84.

Insider Buying and Selling

In related news, CEO Timothy Archer sold 9,650 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $1,070.39, for a total transaction of $10,329,263.50. Following the completion of the sale, the chief executive officer now owns 84,639 shares in the company, valued at $90,596,739.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, 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 value of $1,712,323.80. Following the completion of the sale, the senior vice president now owns 5,237 shares of the company’s stock, valued at approximately $5,535,456.63. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Timothy Archer sold 9,650 shares of Lam Research stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $1,070.39, for a total transaction of $10,329,263.50. Following the completion of the transaction, the chief executive officer now owns 84,639 shares of the company’s stock, valued at approximately $90,596,739.21. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,917 shares of company stock valued at $12,728,870. 0.32% of the stock is owned by insiders.

Lam Research Stock Performance

Shares of LRCX opened at $803.75 on Thursday. Lam Research Co. has a 52 week low of $574.42 and a 52 week high of $1,130.00. 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 stock has a 50 day moving average price of $825.01 and a two-hundred day moving average price of $922.49. The firm has a market capitalization of $105.08 billion, a P/E ratio of 29.56, a P/E/G ratio of 1.51 and a beta of 1.48.

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

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $8.14 EPS for the quarter, beating 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 firm had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.82 billion. During the same quarter last year, the business posted $5.98 EPS. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. Equities analysts forecast that Lam Research Co. will post 35.2 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be paid a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.14%. This is a boost from Lam Research’s previous quarterly dividend of $2.00. The ex-dividend date is Tuesday, September 17th. Lam Research’s payout ratio is presently 33.84%.

About Lam Research

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.