Bailard Inc. Has $8.93 Million Stock Position in Lam Research Co. (NASDAQ:LRCX)

Bailard Inc. raised its holdings in Lam Research Co. (NASDAQ:LRCX) by 1.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,387 shares of the semiconductor company’s stock after buying an additional 100 shares during the quarter. Bailard Inc.’s holdings in Lam Research were worth $8,931,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted 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 valued at $11,519,576,000 after acquiring an additional 144,914 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Lam Research by 3.0% during the fourth quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock valued at $2,329,037,000 after purchasing an additional 86,721 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Lam Research by 5.1% during 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 purchasing an additional 142,903 shares in the last quarter. Norges Bank acquired a new stake in shares of Lam Research in the 4th quarter valued at about $1,414,111,000. Finally, Van ECK Associates Corp increased its position in Lam Research by 24.6% in the 1st quarter. Van ECK Associates Corp now owns 968,115 shares of the semiconductor company’s stock valued at $940,592,000 after buying an additional 191,230 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft cut their price target on Lam Research from $1,100.00 to $950.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Cantor Fitzgerald reissued a “neutral” rating and issued a $1,200.00 price target on shares of Lam Research in a research report on Thursday, August 1st. Raymond James upped their price objective on shares of Lam Research from $950.00 to $1,060.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. TD Cowen lifted 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 report on Thursday, August 1st. Finally, Jefferies Financial Group started coverage on shares of Lam Research in a report on Monday, May 13th. They issued a “buy” rating and a $1,100.00 target price on the stock. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,006.10.

Insider Activity

In other news, CEO Timothy Archer sold 9,650 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $1,070.39, for a total value of $10,329,263.50. Following the completion of the transaction, the chief executive officer now directly owns 84,639 shares of the company’s stock, valued at $90,596,739.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Timothy Archer sold 9,650 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $1,070.39, for a total value of $10,329,263.50. Following the sale, the chief executive officer now directly owns 84,639 shares of the company’s stock, valued at $90,596,739.21. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction of $687,282.22. Following the completion of the transaction, the chief accounting officer now owns 4,914 shares of the company’s stock, valued at $5,219,945.64. 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. Company insiders own 0.32% of the company’s stock.

Lam Research Stock Performance

Shares of NASDAQ:LRCX traded down $28.46 during midday trading on Monday, reaching $818.91. The company had a trading volume of 1,114,471 shares, compared to its average volume of 1,071,832. The stock has a market cap of $107.07 billion, a P/E ratio of 30.12, a P/E/G ratio of 2.41 and a beta of 1.48. The company’s 50 day moving average price is $950.91 and its 200 day moving average price is $946.44. The company has a current ratio of 2.97, a quick ratio of 1.84 and a debt-to-equity ratio of 0.52. Lam Research Co. has a 52-week low of $574.42 and a 52-week high of $1,130.00.

Shares of Lam Research are scheduled to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be issued 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 earnings per share for the quarter, topping the consensus estimate of $7.58 by $0.56. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the prior year, the company earned $5.98 EPS. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lam Research Co. will post 35.09 EPS for the current fiscal year.

Lam Research announced that its Board of Directors has initiated a share buyback program on Tuesday, May 21st that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 8.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board 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.