Quantbot Technologies LP Raises Holdings in Lam Research Co. (NASDAQ:LRCX)

Quantbot Technologies LP raised its holdings in Lam Research Co. (NASDAQ:LRCX) by 88.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,042 shares of the semiconductor company’s stock after purchasing an additional 4,711 shares during the quarter. Lam Research accounts for 0.5% of Quantbot Technologies LP’s holdings, making the stock its 14th largest holding. Quantbot Technologies LP’s holdings in Lam Research were worth $10,693,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Lam Research by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after buying an additional 144,914 shares during the period. Fisher Asset Management LLC raised its stake in shares of Lam Research by 3.0% in the 4th quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock valued at $2,329,037,000 after acquiring an additional 86,721 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 acquiring an additional 142,903 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Lam Research by 7.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock worth $1,335,522,000 after purchasing an additional 89,470 shares during the period. Finally, Van ECK Associates Corp increased its holdings in Lam Research by 11.1% in the 2nd quarter. Van ECK Associates Corp now owns 1,075,893 shares of the semiconductor company’s stock valued at $1,145,664,000 after purchasing an additional 107,778 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Up 2.9 %

Lam Research stock opened at $769.72 on Monday. The company has a market capitalization of $100.63 billion, a P/E ratio of 28.31, a PEG ratio of 1.48 and a beta of 1.48. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. Lam Research Co. has a fifty-two week low of $574.42 and a fifty-two week high of $1,130.00. The stock has a 50-day simple moving average of $868.98 and a 200-day simple moving average of $932.18.

Lam Research’s stock is scheduled to split before the market opens 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 market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last announced its 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. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same period last year, the firm posted $5.98 earnings per share. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. Equities research analysts expect that Lam Research Co. will post 35.2 earnings per share for the current year.

Lam Research announced that its board has approved a stock 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 repurchase up to 8.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Lam Research Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.20%. This is a boost from Lam Research’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Tuesday, September 17th. Lam Research’s dividend payout ratio is presently 33.84%.

Insider Buying and Selling

In other Lam Research news, SVP Neil J. Fernandes sold 1,620 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $1,056.99, for a total transaction 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 SEC, which can be accessed through this hyperlink. In other news, CEO Timothy Archer sold 9,650 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $1,070.39, for a total transaction of $10,329,263.50. Following the transaction, the chief executive officer now directly owns 84,639 shares in the company, valued at $90,596,739.21. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Neil J. Fernandes sold 1,620 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $1,056.99, for a total transaction 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 approximately $5,535,456.63. The disclosure for this sale can be found here. Insiders have sold a total of 16,326 shares of company stock valued at $17,383,715 over the last quarter. 0.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

LRCX has been the subject of several research analyst reports. Needham & Company LLC restated a “buy” rating and set a $1,130.00 price target on shares of Lam Research in a research report on Thursday, August 1st. B. Riley lifted their price objective on shares of Lam Research from $1,130.00 to $1,325.00 and gave the company a “buy” rating in a report on Thursday, June 20th. TD Cowen raised their price target on shares of 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. UBS Group reduced their price objective on Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and an average 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.