Lam Research Co. (NASDAQ:LRCX) Shares Sold by APG Asset Management N.V.

APG Asset Management N.V. decreased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 0.2% in the second quarter, HoldingsChannel reports. The firm owned 94,215 shares of the semiconductor company’s stock after selling 225 shares during the quarter. APG Asset Management N.V.’s holdings in Lam Research were worth $93,608,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of LRCX. CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Lam Research in the second quarter worth $32,000. RFP Financial Group LLC grew its position in Lam Research by 52.2% during the 2nd 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. raised its stake in shares of Lam Research by 78.6% during the 4th quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 22 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Lam Research in the 2nd quarter valued at about $40,000. Finally, Country Trust Bank purchased a new stake in shares of Lam Research in the second quarter worth about $43,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Citigroup decreased their price target on Lam Research from $990.00 to $893.00 and set a “buy” rating for the company in a report on Monday, September 16th. B. Riley increased their price target on shares of Lam Research from $1,130.00 to $1,325.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Raymond James lifted their price objective on shares of Lam Research from $950.00 to $1,060.00 and gave the company an “outperform” rating in a report on Friday, June 7th. 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. Finally, Wells Fargo & Company cut 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 note on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,012.84.

Lam Research Stock Up 5.4 %

NASDAQ LRCX opened at $847.50 on Friday. Lam Research Co. has a one year low of $574.42 and a one year 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 business has a fifty day moving average price of $821.73 and a 200 day moving average price of $921.66. The company has a market cap of $110.80 billion, a P/E ratio of 31.17, a P/E/G ratio of 1.51 and a beta of 1.48.

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 issued shares will be distributed to shareholders after the market closes on Wednesday, October 2nd.

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

Lam Research Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be given 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 dividend yield of 1.09%. Lam Research’s dividend payout ratio is 33.84%.

Insider Activity at Lam Research

In other Lam Research news, SVP Neil J. Fernandes sold 1,620 shares of the company’s 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 in the company, valued at approximately $5,535,456.63. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the sale, the chief accounting officer now owns 4,914 shares of the company’s stock, valued at approximately $5,219,945.64. The transaction 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 stock in a transaction that occurred 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 transaction, the senior vice president now 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 own 0.32% of the company’s stock.

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.