Choreo LLC Has $3.85 Million Stake in Lam Research Co. (NASDAQ:LRCX)

Choreo LLC increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 670.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,628 shares of the semiconductor company’s stock after acquiring an additional 3,157 shares during the quarter. Choreo LLC’s holdings in Lam Research were worth $3,849,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in LRCX. Checchi Capital Advisers LLC lifted its position in Lam Research by 1.0% during the fourth quarter. Checchi Capital Advisers LLC now owns 1,781 shares of the semiconductor company’s stock worth $1,395,000 after acquiring an additional 18 shares during the last quarter. Jump Financial LLC boosted its stake in Lam Research by 108.1% in the 4th quarter. Jump Financial LLC now owns 2,283 shares of the semiconductor company’s stock valued at $1,788,000 after purchasing an additional 1,186 shares during the period. Cypress Capital Group grew its holdings in Lam Research by 23.1% in the 2nd quarter. Cypress Capital Group now owns 3,528 shares of the semiconductor company’s stock valued at $3,757,000 after buying an additional 661 shares in the last quarter. Brookstone Capital Management increased its position in Lam Research by 142.6% during the 2nd quarter. Brookstone Capital Management now owns 1,601 shares of the semiconductor company’s stock worth $1,705,000 after buying an additional 941 shares during the period. Finally, FineMark National Bank & Trust boosted its position in shares of Lam Research by 14.5% in the second quarter. FineMark National Bank & Trust now owns 474 shares of the semiconductor company’s stock valued at $505,000 after acquiring an additional 60 shares during the period. Institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on LRCX. TD Cowen lifted their price objective on shares of Lam Research from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Citigroup cut their price target on Lam Research from $1,025.00 to $990.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Jefferies Financial Group started coverage on Lam Research in a research report on Monday, May 13th. They set a “buy” rating and a $1,100.00 price target on the stock. StockNews.com cut Lam Research from a “buy” rating to a “hold” rating in a report on Friday, July 26th. 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 report on Thursday, June 20th. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,006.10.

Lam Research Trading Up 0.1 %

Shares of NASDAQ LRCX opened at $734.31 on Tuesday. Lam Research Co. has a 52-week low of $574.42 and a 52-week high of $1,130.00. 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 stock has a market cap of $95.37 billion, a P/E ratio of 27.01, a price-to-earnings-growth ratio of 1.41 and a beta of 1.48. The firm has a 50 day moving average price of $895.19 and a two-hundred day moving average price of $937.14.

Shares of Lam Research are set 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 issued its quarterly 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. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the previous year, the company earned $5.98 EPS. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. As a group, equities analysts forecast that Lam Research Co. will post 35.2 EPS for the current year.

Lam Research Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders 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. This represents a $9.20 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is presently 29.42%.

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

Insider Transactions at Lam Research

In related news, SVP Neil J. Fernandes sold 4,409 shares of Lam Research 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 completion of the sale, the senior vice president now 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 accessible through the SEC website. In other Lam Research news, SVP Neil J. Fernandes sold 4,409 shares of Lam Research 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 owns 6,857 shares in the company, valued at approximately $7,239,346.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Christina Correia sold 647 shares of the 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 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 sold 16,326 shares of company stock valued at $17,383,715. Corporate insiders own 0.32% of the company’s stock.

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.