Lyell Wealth Management LP Buys 43 Shares of Lam Research Co. (NASDAQ:LRCX)

Lyell Wealth Management LP grew its stake in Lam Research Co. (NASDAQ:LRCX) by 8.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 575 shares of the semiconductor company’s stock after purchasing an additional 43 shares during the period. Lyell Wealth Management LP’s holdings in Lam Research were worth $612,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Swedbank AB bought a new stake in shares of Lam Research during the 1st quarter worth approximately $192,668,000. Van ECK Associates Corp lifted its stake in shares of Lam Research by 24.6% during the 1st quarter. Van ECK Associates Corp now owns 968,115 shares of the semiconductor company’s stock worth $940,592,000 after acquiring an additional 191,230 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Lam Research by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock worth $11,519,576,000 after acquiring an additional 144,914 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Lam Research by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock worth $2,875,023,000 after acquiring an additional 142,903 shares during the last quarter. Finally, Natixis lifted its stake in shares of Lam Research by 1,267.1% during the 1st quarter. Natixis now owns 142,967 shares of the semiconductor company’s stock worth $138,902,000 after acquiring an additional 132,509 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Insider Buying and Selling at Lam Research

In other Lam Research news, CEO Timothy Archer sold 9,650 shares of the business’s 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 sale, the chief executive officer now owns 84,639 shares in the company, valued at approximately $90,596,739.21. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total value of $687,282.22. Following the sale, the chief accounting officer now owns 4,914 shares in the company, valued at $5,219,945.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy Archer sold 9,650 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $1,070.39, for a total value 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 approximately $90,596,739.21. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,326 shares of company stock worth $17,383,715. 0.32% of the stock is currently owned by insiders.

Lam Research Trading Up 2.9 %

Shares of NASDAQ:LRCX opened at $769.72 on Monday. The business’s 50-day moving average is $868.98 and its 200 day moving average is $932.18. Lam Research Co. has a 1 year low of $574.42 and a 1 year high of $1,130.00. The firm has a market capitalization of $100.63 billion, a P/E ratio of 28.31, a P/E/G ratio of 1.48 and a beta of 1.48. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00.

Lam Research shares are scheduled 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 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, beating the consensus estimate of $7.58 by $0.56. The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.98 EPS. On average, research analysts predict that Lam Research Co. will post 35.2 earnings per share for the current fiscal year.

Lam Research announced that its Board of Directors has approved a share repurchase program on Tuesday, May 21st that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to buy up to 8.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Lam Research Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be paid a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 1.20%. The ex-dividend date is Tuesday, September 17th. This is an increase from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s payout ratio is presently 33.84%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LRCX. Deutsche Bank Aktiengesellschaft decreased their price target on 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. StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a report on Friday, July 26th. TD Cowen lifted their target price on Lam Research from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. B. Riley lifted their target price on Lam Research from $1,130.00 to $1,325.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Finally, Citigroup decreased their target price on Lam Research from $1,025.00 to $990.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,015.63.

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.