Lam Research Co. (NASDAQ:LRCX) Stock Holdings Decreased by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. reduced its position in Lam Research Co. (NASDAQ:LRCX) by 55.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,183 shares of the semiconductor company’s stock after selling 12,503 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Lam Research were worth $10,864,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in LRCX. Quarry LP grew its position in Lam Research by 175.0% during the second quarter. Quarry LP now owns 88 shares of the semiconductor company’s stock valued at $94,000 after purchasing an additional 56 shares in the last quarter. Covington Investment Advisors Inc. grew its position in Lam Research by 15.2% during the second quarter. Covington Investment Advisors Inc. now owns 15,111 shares of the semiconductor company’s stock valued at $16,091,000 after purchasing an additional 1,990 shares in the last quarter. Sunbelt Securities Inc. grew its position in Lam Research by 3.9% during the second quarter. Sunbelt Securities Inc. now owns 1,533 shares of the semiconductor company’s stock valued at $1,633,000 after purchasing an additional 58 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Lam Research by 0.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 49,056 shares of the semiconductor company’s stock valued at $52,246,000 after purchasing an additional 433 shares in the last quarter. Finally, Silver Lake Advisory LLC acquired a new stake in Lam Research in the second quarter valued at approximately $261,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LRCX has been the subject of a number of analyst reports. Citigroup reduced their target price on shares of Lam Research from $990.00 to $893.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Lam Research from $1,100.00 to $950.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. 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 note on Friday, September 20th. 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 research note on Thursday, September 12th. Finally, Barclays lifted their target price on shares of Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 5th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,012.84.

Insiders Place Their Bets

In other news, SVP Neil J. Fernandes sold 1,620 shares of the business’s 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 of the company’s stock, valued at $5,535,456.63. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.32% of the company’s stock.

Lam Research Price Performance

Shares of LRCX opened at $827.12 on Monday. The company has a market cap of $108.14 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 1.51 and a beta of 1.48. Lam Research Co. has a 1-year low of $574.42 and a 1-year high of $1,130.00. The company’s fifty day simple moving average is $817.83 and its 200 day simple moving average is $920.16. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52.

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 issued to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $8.14 EPS for the quarter, topping 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 firm had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same period in the previous year, the business posted $5.98 earnings per share. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, research analysts forecast that Lam Research Co. will post 35.2 earnings per share 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 given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 1.11%. 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 33.84%.

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.