Massachusetts Financial Services Co. MA Increases Holdings in Lam Research Co. (NASDAQ:LRCX)

Massachusetts Financial Services Co. MA boosted its position in Lam Research Co. (NASDAQ:LRCX) by 7.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,254,188 shares of the semiconductor company’s stock after buying an additional 89,470 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.96% of Lam Research worth $1,335,522,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Swedbank AB acquired a new position in shares of Lam Research in the 1st quarter valued at about $192,668,000. Van ECK Associates Corp raised its position in Lam Research by 24.6% during the first quarter. Van ECK Associates Corp now owns 968,115 shares of the semiconductor company’s stock valued at $940,592,000 after acquiring an additional 191,230 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Lam Research by 1.2% in the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after acquiring an additional 144,914 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Lam Research by 5.1% in 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 purchasing an additional 142,903 shares in the last quarter. Finally, Natixis grew 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 purchasing an additional 132,509 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated 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 completion of the sale, the chief accounting officer now directly owns 4,914 shares in the company, valued at $5,219,945.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the completion of the transaction, the chief accounting officer now directly owns 4,914 shares in the company, valued at $5,219,945.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Timothy Archer sold 9,650 shares of the business’s stock in a transaction on Friday, June 28th. The shares were 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 ninety days, insiders sold 16,326 shares of company stock valued at $17,383,715. 0.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LRCX. Cantor Fitzgerald reiterated a “neutral” rating and issued a $1,200.00 target price on shares of Lam Research in a research note on Thursday, August 1st. B. Riley increased 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 target price on Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 5th. Needham & Company LLC reiterated a “buy” rating and set a $1,130.00 price target on shares of Lam Research in a research report on Thursday, August 1st. Finally, StockNews.com cut Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,015.63.

Lam Research Trading Up 2.9 %

Shares of Lam Research stock opened at $769.72 on Monday. Lam Research Co. has a 1-year low of $574.42 and a 1-year high of $1,130.00. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. The stock has a market cap 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 stock’s 50 day simple moving average is $868.98 and its 200-day simple moving average is $932.18.

Shares of Lam Research are scheduled 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 issued to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.58 by $0.56. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The business’s revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the firm earned $5.98 EPS. Analysts predict that Lam Research Co. will post 35.2 EPS for the current fiscal year.

Lam Research declared that its Board of Directors has authorized a share repurchase plan on Tuesday, May 21st that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to buy up to 8.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Lam Research Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be issued a dividend of $2.30 per share. The ex-dividend date is Tuesday, September 17th. This is a boost 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 1.20%. Lam Research’s dividend payout ratio is currently 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.