Lam Research Co. (NASDAQ:LRCX) Shares Sold by Candriam S.C.A.

Candriam S.C.A. lowered its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 3.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 114,515 shares of the semiconductor company’s stock after selling 3,518 shares during the period. Lam Research comprises 0.7% of Candriam S.C.A.’s portfolio, making the stock its 26th largest holding. Candriam S.C.A. owned approximately 0.09% of Lam Research worth $121,936,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. DSM Capital Partners LLC purchased a new stake in Lam Research in the 4th quarter valued at approximately $28,000. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Lam Research in the second quarter valued at $32,000. Partnership Wealth Management LLC acquired a new stake in shares of Lam Research during the fourth quarter valued at $33,000. RFP Financial Group LLC increased its position in Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 12 shares in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC acquired a new position in Lam Research in the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $1,200.00 price target on shares of Lam Research in a report on Thursday, August 1st. Jefferies Financial Group started coverage on Lam Research in a report on Monday, May 13th. They issued a “buy” rating and a $1,100.00 price target for the company. TD Cowen boosted their price objective on shares of Lam Research from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,130.00 target price on shares of Lam Research in a research report on Thursday, August 1st. Finally, StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,006.10.

Insider Transactions at Lam Research

In other Lam Research news, SVP Neil J. Fernandes sold 1,620 shares of the business’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 sale, the senior vice president now directly owns 5,237 shares in the company, valued at approximately $5,535,456.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Neil J. Fernandes sold 4,409 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the sale, the senior vice president now owns 6,857 shares in the company, valued at $7,239,346.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Neil J. Fernandes sold 1,620 shares of the firm’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 transaction, the senior vice president now directly 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 quarter, insiders sold 16,326 shares of company stock worth $17,383,715. Insiders own 0.32% of the company’s stock.

Lam Research Stock Performance

Shares of Lam Research stock opened at $733.83 on Friday. 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 1 year low of $574.42 and a 1 year high of $1,130.00. The firm’s 50-day simple moving average is $901.71 and its 200-day simple moving average is $938.10. The firm has a market cap of $95.94 billion, a PE ratio of 26.99, a price-to-earnings-growth ratio of 1.58 and a beta of 1.48.

Shares of Lam Research are going to split before the market opens on 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 issued its quarterly 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. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same period in the previous year, the business earned $5.98 EPS. The business’s quarterly revenue was up 20.7% on a year-over-year basis. Equities analysts forecast that Lam Research Co. will post 35.2 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The company 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. This is an increase from Lam Research’s previous quarterly dividend of $2.00. The ex-dividend date is Tuesday, September 17th. This represents a $9.20 annualized dividend and a dividend yield of 1.25%. Lam Research’s payout ratio is 33.84%.

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

Lam Research 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.