Telos Capital Management Inc. Sells 28 Shares of Lam Research Co. (NASDAQ:LRCX)

Telos Capital Management Inc. lowered its position in Lam Research Co. (NASDAQ:LRCX) by 4.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 597 shares of the semiconductor company’s stock after selling 28 shares during the period. Telos Capital Management Inc.’s holdings in Lam Research were worth $636,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC increased its holdings in Lam Research by 16.7% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock worth $67,000 after acquiring an additional 9 shares during the last quarter. Thomasville National Bank grew its holdings in Lam Research by 1.5% during the 2nd quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock valued at $865,000 after buying an additional 12 shares in the last quarter. Ignite Planners LLC grew its holdings in Lam Research by 2.8% during the 2nd quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock valued at $484,000 after buying an additional 12 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its holdings in Lam Research by 3.7% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock valued at $357,000 after buying an additional 12 shares in the last quarter. Finally, RFP Financial Group LLC grew its holdings in Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $1,200.00 target price on shares of Lam Research in a report on Thursday, August 1st. Jefferies Financial Group assumed coverage on Lam Research in a report on Monday, May 13th. They set a “buy” rating and a $1,100.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $1,130.00 target price on shares of Lam Research in a report on Thursday, August 1st. Wells Fargo & Company dropped their price target on Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. Finally, Citigroup dropped their price target 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 equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,006.10.

Insider Buying and Selling

In related news, SVP Neil J. Fernandes sold 1,620 shares of the stock in a transaction dated 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 owns 5,237 shares in the company, valued at $5,535,456.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Lam Research news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction that occurred 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 owns 4,914 shares in the company, valued at approximately $5,219,945.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Neil J. Fernandes sold 1,620 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $1,056.99, for a total value of $1,712,323.80. Following the transaction, 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. Over the last 90 days, insiders sold 16,326 shares of company stock worth $17,383,715. 0.32% of the stock is owned by corporate insiders.

Lam Research Stock Performance

LRCX stock traded up $23.69 during trading on Friday, reaching $821.01. The stock had a trading volume of 1,242,934 shares, compared to its average volume of 1,276,303. Lam Research Co. has a 52 week low of $574.42 and a 52 week high of $1,130.00. The stock’s 50 day moving average is $929.97 and its two-hundred day moving average is $943.54. 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 firm has a market cap of $107.34 billion, a PE ratio of 30.20, a PEG ratio of 1.58 and a beta of 1.48.

Shares of Lam Research are going 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 earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share for the quarter, beating analysts’ consensus estimates of $7.58 by $0.56. The company 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%. Lam Research’s revenue was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.98 earnings per share. As a group, equities analysts anticipate that Lam Research Co. will post 35.2 earnings per share for the current year.

Lam Research Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be given a $2.30 dividend. This is a boost from Lam Research’s previous quarterly dividend of $2.00. The ex-dividend date is Tuesday, September 17th. This represents a $9.20 dividend on an annualized basis and a yield of 1.12%. Lam Research’s dividend payout ratio is presently 29.42%.

Lam Research announced that its board has initiated a stock repurchase plan on Tuesday, May 21st that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to purchase up to 8.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

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.