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

Crewe Advisors LLC lessened its stake in Lam Research Co. (NASDAQ:LRCX) by 25.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84 shares of the semiconductor company’s stock after selling 28 shares during the period. Crewe Advisors LLC’s holdings in Lam Research were worth $89,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in LRCX. Norges Bank acquired a new stake in Lam Research in the 4th quarter valued at $1,414,111,000. Swedbank AB purchased a new position in Lam Research during the first quarter valued at $192,668,000. Van ECK Associates Corp increased its stake in shares of Lam Research by 24.6% during the first quarter. Van ECK Associates Corp now owns 968,115 shares of the semiconductor company’s stock worth $940,592,000 after purchasing an additional 191,230 shares in the last quarter. Vanguard Group Inc. raised its position 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 purchasing an additional 144,914 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake 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 valued at $2,875,023,000 after buying an additional 142,903 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analysts Set New Price Targets

LRCX has been the subject of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $1,130.00 price objective on shares of Lam Research in a report on Thursday, August 1st. TD Cowen boosted 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. Jefferies Financial Group assumed coverage on Lam Research in a research report on Monday, May 13th. They set a “buy” rating and a $1,100.00 price target for the company. Deutsche Bank Aktiengesellschaft dropped their price objective 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. Finally, B. Riley increased their target price on 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. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and an average target price of $1,006.10.

Lam Research Stock Up 3.0 %

Lam Research stock traded up $23.69 during mid-day trading on Friday, hitting $821.01. The company had a trading volume of 1,242,761 shares, compared to its average volume of 1,073,409. The business has a fifty day moving average of $934.56 and a 200 day moving average of $943.79. Lam Research Co. has a 1 year low of $574.42 and a 1 year high of $1,130.00. The company has a quick ratio of 1.84, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. The stock has a market cap of $107.34 billion, a price-to-earnings ratio of 30.20, a PEG ratio of 2.41 and a beta of 1.48.

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. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period last year, the firm posted $5.98 earnings per share. On average, sell-side analysts expect that Lam Research Co. will post 35.09 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The business also recently disclosed 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 is an increase from Lam Research’s previous quarterly dividend of $2.00. This represents a $9.20 annualized dividend and a yield of 1.12%. Lam Research’s dividend payout ratio is currently 29.42%.

Lam Research announced that its board has initiated a share buyback plan on Tuesday, May 21st that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to repurchase up to 8.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Neil J. Fernandes sold 4,409 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total value of $4,654,845.84. Following the transaction, the senior vice president now directly owns 6,857 shares of the company’s stock, valued at approximately $7,239,346.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Lam Research news, SVP Neil J. Fernandes sold 4,409 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the transaction, the senior vice president now owns 6,857 shares in the company, valued at approximately $7,239,346.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $1,062.26, for a total value of $687,282.22. Following the completion of the sale, the chief accounting officer now directly owns 4,914 shares of the company’s stock, valued at $5,219,945.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,326 shares of company stock worth $17,383,715. 0.32% of the stock is currently owned by insiders.

About Lam Research

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.