Moors & Cabot Inc. Has $2.65 Million Holdings in Lam Research Co. (NASDAQ:LRCX)

Moors & Cabot Inc. grew its stake in Lam Research Co. (NASDAQ:LRCX) by 4.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,492 shares of the semiconductor company’s stock after purchasing an additional 95 shares during the period. Moors & Cabot Inc.’s holdings in Lam Research were worth $2,654,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Gryphon Financial Partners LLC bought a new stake in shares of Lam Research in the 4th quarter worth approximately $476,000. Gladstone Institutional Advisory LLC raised its stake in shares of Lam Research by 5.5% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 693 shares of the semiconductor company’s stock valued at $543,000 after purchasing an additional 36 shares in the last quarter. Clearbridge Investments LLC lifted its position in Lam Research by 2.0% in the fourth quarter. Clearbridge Investments LLC now owns 210,934 shares of the semiconductor company’s stock worth $165,216,000 after purchasing an additional 4,052 shares during the period. D.A. Davidson & CO. boosted its stake in Lam Research by 1.2% during the fourth quarter. D.A. Davidson & CO. now owns 10,508 shares of the semiconductor company’s stock worth $8,231,000 after buying an additional 124 shares in the last quarter. Finally, Assetmark Inc. raised its stake in shares of Lam Research by 18.6% in the 4th quarter. Assetmark Inc. now owns 22,040 shares of the semiconductor company’s stock valued at $17,263,000 after buying an additional 3,454 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

LRCX has been the topic of several recent research reports. Morgan Stanley decreased their target price on shares of Lam Research from $929.00 to $774.00 and set an “equal weight” rating on the stock in a research report on Tuesday. TD Cowen lifted their price objective on Lam Research from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Needham & Company LLC reissued a “buy” rating and issued a $1,130.00 target price on shares of Lam Research in a report on Thursday, August 1st. Barclays boosted their price target 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. Finally, UBS Group dropped their price objective on Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,013.37.

Insider Buying and Selling at Lam Research

In other news, CEO Timothy Archer sold 9,650 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 84,639 shares of the company’s stock, valued at approximately $90,596,739.21. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Timothy Archer sold 9,650 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 84,639 shares in the company, valued at approximately $90,596,739.21. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Christina Correia sold 647 shares of the stock in a transaction dated 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 owns 4,914 shares of the company’s stock, valued at $5,219,945.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,326 shares of company stock valued at $17,383,715. 0.32% of the stock is currently owned by company insiders.

Lam Research Stock Up 1.3 %

NASDAQ LRCX opened at $766.04 on Wednesday. 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 52 week low of $574.42 and a 52 week high of $1,130.00. The stock has a market capitalization of $100.15 billion, a P/E ratio of 28.17, a price-to-earnings-growth ratio of 1.48 and a beta of 1.48. The stock has a fifty day moving average of $855.19 and a 200-day moving average of $929.39.

Lam Research’s stock is set to split on the morning of 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 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 company had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter in the previous year, the company earned $5.98 EPS. Lam Research’s revenue was up 20.7% on a year-over-year basis. On average, equities research analysts forecast that Lam Research Co. will post 35.2 EPS for the current year.

Lam Research Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be given a $2.30 dividend. This is a positive change from Lam Research’s previous quarterly dividend of $2.00. This represents a $9.20 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend is Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is currently 33.84%.

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 purchase up to 8.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership 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.