Lmcg Investments LLC Sells 1,531 Shares of Lam Research Co. (NASDAQ:LRCX)

Lmcg Investments LLC lessened its position in shares of Lam Research Co. (NASDAQ:LRCX) by 10.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,549 shares of the semiconductor company’s stock after selling 1,531 shares during the quarter. Lmcg Investments LLC’s holdings in Lam Research were worth $13,363,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Renaissance Technologies LLC acquired a new stake in Lam Research in the 2nd quarter worth approximately $48,297,000. Citizens Financial Group Inc. RI lifted its stake in shares of Lam Research by 136.5% during the second quarter. Citizens Financial Group Inc. RI now owns 1,102 shares of the semiconductor company’s stock worth $1,173,000 after buying an additional 636 shares during the period. Quantbot Technologies LP raised its stake in Lam Research by 88.4% in the 2nd quarter. Quantbot Technologies LP now owns 10,042 shares of the semiconductor company’s stock worth $10,693,000 after acquiring an additional 4,711 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Lam Research by 4.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company’s stock worth $654,009,000 after acquiring an additional 25,362 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in 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 valued at $1,335,522,000 after purchasing an additional 89,470 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Neil J. Fernandes sold 4,409 shares of the company’s stock in a transaction dated 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 completion of 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, SVP Neil J. Fernandes sold 4,409 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total value of $4,654,845.84. Following the completion of the sale, the senior vice president now directly owns 6,857 shares of the company’s stock, valued at approximately $7,239,346.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Neil J. Fernandes sold 1,620 shares of the 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 completion of the sale, the senior vice president now directly owns 5,237 shares of the company’s stock, valued at $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. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

LRCX has been the topic of a number of recent research reports. UBS Group dropped their target price on Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Barclays raised their target price on shares of Lam Research from $865.00 to $900.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 5th. B. Riley increased their price target on Lam Research from $1,130.00 to $1,325.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Cantor Fitzgerald restated a “neutral” rating and issued a $1,200.00 target price on shares of Lam Research in a research note on Thursday, August 1st. Finally, Citigroup reduced their price target on Lam Research from $990.00 to $893.00 and set a “buy” rating for the company in a research report on Monday. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,010.53.

Lam Research Stock Down 1.5 %

Lam Research stock opened at $758.47 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. The firm has a 50 day moving average price of $862.12 and a 200 day moving average price of $930.91. Lam Research Co. has a fifty-two week low of $574.42 and a fifty-two week high of $1,130.00. The company has a market capitalization of $99.16 billion, a PE ratio of 27.90, a price-to-earnings-growth ratio of 1.48 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 issued shares will be distributed to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the previous year, the firm posted $5.98 earnings per share. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. Research analysts expect that Lam Research Co. will post 35.2 earnings per share for the current year.

Lam Research declared that its Board of Directors has approved a share buyback program on Tuesday, May 21st that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to buy up to 8.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Lam Research Increases Dividend

The company also recently disclosed 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 1.21%. This is a positive change from Lam Research’s previous quarterly dividend of $2.00. The ex-dividend date is Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is presently 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.