Lam Research Co. (NASDAQ:LRCX) Holdings Boosted by Main Street Financial Solutions LLC

Main Street Financial Solutions LLC grew its holdings in Lam Research Co. (NASDAQ:LRCX) by 17.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 691 shares of the semiconductor company’s stock after purchasing an additional 103 shares during the period. Main Street Financial Solutions LLC’s holdings in Lam Research were worth $736,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Gryphon Financial Partners LLC acquired a new position in Lam Research in the 4th quarter valued at approximately $476,000. Avantax Advisory Services Inc. increased its stake in shares of Lam Research by 10.9% in the fourth quarter. Avantax Advisory Services Inc. now owns 2,076 shares of the semiconductor company’s stock worth $1,626,000 after acquiring an additional 204 shares during the last quarter. Moran Wealth Management LLC purchased a new stake in shares of Lam Research during the fourth quarter worth $246,000. Foundations Investment Advisors LLC boosted its position in Lam Research by 329.8% during the fourth quarter. Foundations Investment Advisors LLC now owns 1,427 shares of the semiconductor company’s stock valued at $1,187,000 after purchasing an additional 1,095 shares during the last quarter. Finally, Wade G W & Inc. grew its stake in Lam Research by 129.1% in the fourth quarter. Wade G W & Inc. now owns 1,624 shares of the semiconductor company’s stock valued at $1,272,000 after purchasing an additional 915 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Down 2.5 %

NASDAQ LRCX opened at $747.78 on Friday. Lam Research Co. has a twelve month low of $574.42 and a twelve month high of $1,130.00. The stock has a market cap of $97.12 billion, a PE ratio of 27.50, a PEG ratio of 1.48 and a beta of 1.48. The firm has a 50-day simple moving average of $875.35 and a 200 day simple moving average of $933.27. 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 shares are going to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be distributed to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share for the quarter, beating the consensus estimate of $7.58 by $0.56. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The firm’s revenue was up 20.7% on a year-over-year basis. During the same period in the previous year, the business earned $5.98 EPS. On average, research analysts forecast that Lam Research Co. will post 35.2 EPS for the current year.

Lam Research Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be given a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Tuesday, September 17th. This is an increase from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s dividend payout ratio (DPR) is 29.42%.

Lam Research announced that its Board of Directors has approved a share repurchase program on Tuesday, May 21st that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 8.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on LRCX shares. B. Riley lifted their price target on Lam Research from $1,130.00 to $1,325.00 and gave the company a “buy” rating in a report on Thursday, June 20th. StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Lam Research from $1,100.00 to $950.00 and set a “buy” rating for the company in a report on Thursday, August 1st. TD Cowen upped their price target on 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. Finally, Barclays raised their price objective on Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 5th. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,006.10.

Insider Buying and Selling at Lam Research

In other news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $1,062.26, for a total value of $687,282.22. Following the sale, the chief accounting officer now owns 4,914 shares in the company, valued at approximately $5,219,945.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Lam Research news, SVP Neil J. Fernandes sold 4,409 shares of Lam Research stock in a transaction on 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 transaction, the senior vice president now owns 6,857 shares in the company, valued at approximately $7,239,346.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Christina Correia sold 647 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 4,914 shares in the company, valued at approximately $5,219,945.64. The disclosure for this sale can be found here. Insiders have sold 16,326 shares of company stock worth $17,383,715 over the last three months. Company 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.