Lam Research Co. (NASDAQ:LRCX) Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC reduced its position in Lam Research Co. (NASDAQ:LRCX) by 5.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,433 shares of the semiconductor company’s stock after selling 453 shares during the quarter. NewEdge Advisors LLC’s holdings in Lam Research were worth $7,915,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. grew its position in shares of Lam Research by 0.9% in 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. Silver Lake Advisory LLC acquired a new position in Lam Research during the second quarter worth $261,000. Creative Planning grew its holdings in Lam Research by 1.4% in the 2nd quarter. Creative Planning now owns 46,231 shares of the semiconductor company’s stock valued at $49,229,000 after buying an additional 639 shares in the last quarter. Oliver Lagore Vanvalin Investment Group increased its stake in shares of Lam Research by 9.8% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 841 shares of the semiconductor company’s stock worth $896,000 after acquiring an additional 75 shares during the last quarter. Finally, Smith Thornton Advisors LLC purchased a new position in shares of Lam Research during the 2nd quarter worth $341,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Price Performance

Lam Research stock opened at $816.08 on Tuesday. The company’s 50 day moving average is $814.61 and its two-hundred day moving average is $919.39. The firm has a market cap of $106.70 billion, a PE ratio of 30.01, a price-to-earnings-growth ratio of 1.51 and a beta of 1.48. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. Lam Research Co. has a 52-week low of $574.42 and a 52-week high of $1,130.00.

Lam Research’s stock is scheduled to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be payable to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 EPS for the quarter, topping the consensus estimate of $7.58 by $0.56. The firm had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. Lam Research’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the previous year, the firm posted $5.98 EPS. On average, research analysts expect that Lam Research Co. will post 35.2 EPS for the current fiscal year.

Lam Research Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be issued a $2.30 dividend. This is a boost from Lam Research’s previous quarterly dividend of $2.00. The ex-dividend date is Tuesday, September 17th. This represents a $9.20 annualized dividend and a yield of 1.13%. Lam Research’s dividend payout ratio (DPR) is 33.84%.

Insider Activity at Lam Research

In other Lam Research news, SVP Neil J. Fernandes sold 1,620 shares of the stock in a transaction that occurred on 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 sale, the senior vice president now directly 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 the SEC website. 0.32% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

LRCX has been the subject of a number of analyst reports. Wells Fargo & Company dropped their price objective on shares of Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. Citigroup cut their price target on shares of Lam Research from $990.00 to $893.00 and set a “buy” rating for the company in a report on Monday, September 16th. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Deutsche Bank Aktiengesellschaft lowered their price objective on Lam Research from $1,100.00 to $950.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Finally, Morgan Stanley reduced their target price 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 research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,002.32.

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.