Lam Research Co. (NASDAQ:LRCX) Shares Sold by Lazari Capital Management Inc.

Lazari Capital Management Inc. lowered its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 5.5% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 274 shares of the semiconductor company’s stock after selling 16 shares during the period. Lazari Capital Management Inc.’s holdings in Lam Research were worth $292,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Symmetry Investments LP purchased a new stake in Lam Research in the 2nd quarter worth approximately $3,229,000. Cypress Capital Group boosted its stake in shares of Lam Research by 23.1% during the 2nd quarter. Cypress Capital Group now owns 3,528 shares of the semiconductor company’s stock worth $3,757,000 after acquiring an additional 661 shares in the last quarter. 3Chopt Investment Partners LLC acquired a new stake in shares of Lam Research during the 2nd quarter valued at about $1,105,000. Albar Capital Ltd acquired a new position in Lam Research in the 2nd quarter worth about $3,123,000. Finally, Meeder Advisory Services Inc. grew its holdings in Lam Research by 29.4% in the second quarter. Meeder Advisory Services Inc. now owns 3,022 shares of the semiconductor company’s stock valued at $3,218,000 after purchasing an additional 686 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Ratings Changes

LRCX has been the topic of a number of research analyst reports. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. B. Riley boosted their target price on shares of Lam Research from $1,130.00 to $1,325.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Barclays raised their price target 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. Mizuho cut their price objective on 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. Finally, Wells Fargo & Company reduced their target price on 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. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and an average target price of $1,002.32.

Lam Research Trading Down 2.3 %

NASDAQ:LRCX opened at $797.38 on Wednesday. Lam Research Co. has a 12-month low of $574.42 and a 12-month high of $1,130.00. The firm has a market cap of $104.25 billion, a PE ratio of 29.33, a price-to-earnings-growth ratio of 1.51 and a beta of 1.48. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. The stock has a fifty day moving average price of $811.37 and a 200 day moving average price of $918.60.

Lam Research shares are set to split on the morning of 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 issued its earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share for the quarter, beating the consensus estimate of $7.58 by $0.56. The firm had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The firm’s revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the company earned $5.98 earnings per share. Sell-side analysts anticipate 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 was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were paid a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 1.15%. The ex-dividend date was Tuesday, September 17th. This is an increase from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s dividend payout ratio is currently 33.84%.

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 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 of the company’s stock, valued at approximately $5,535,456.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.32% of the company’s stock.

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.