Palouse Capital Management Inc. Decreases Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Palouse Capital Management Inc. cut its stake in Lam Research Co. (NASDAQ:LRCX) by 5.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,231 shares of the semiconductor company’s stock after selling 127 shares during the period. Lam Research makes up about 1.6% of Palouse Capital Management Inc.’s holdings, making the stock its 28th largest holding. Palouse Capital Management Inc.’s holdings in Lam Research were worth $2,376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in LRCX. DSM Capital Partners LLC purchased a new stake in Lam Research in the 4th quarter valued at $28,000. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Lam Research in the second quarter valued at about $32,000. RFP Financial Group LLC increased its position in Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 12 shares during the last quarter. Raleigh Capital Management Inc. raised its stake in Lam Research by 78.6% during the fourth quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 22 shares during the period. Finally, Hobbs Group Advisors LLC acquired a new position in Lam Research in the 2nd quarter valued at about $40,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

LRCX has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $1,130.00 price target on shares of Lam Research in a research report on Thursday, August 1st. Citigroup decreased their price target on Lam Research from $990.00 to $893.00 and set a “buy” rating on the stock in a research note on Monday. Raymond James raised their price objective on Lam Research from $950.00 to $1,060.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Lam Research from $1,100.00 to $950.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Finally, UBS Group reduced their price target on shares of Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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 transaction 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 approximately $90,596,739.21. 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 that occurred on Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy Archer sold 9,650 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $1,070.39, for a total transaction of $10,329,263.50. Following the completion of the transaction, the chief executive officer now directly owns 84,639 shares in the company, valued at $90,596,739.21. The disclosure for this sale can be found here. Insiders have sold a total of 16,326 shares of company stock worth $17,383,715 over the last ninety days. Corporate insiders own 0.32% of the company’s stock.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $755.87 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. The company has a market cap of $98.82 billion, a price-to-earnings ratio of 27.80, a price-to-earnings-growth ratio of 1.48 and a beta of 1.48. The stock’s 50-day moving average is $847.76 and its two-hundred day moving average is $928.18. Lam Research Co. has a 1-year low of $574.42 and a 1-year high of $1,130.00.

Shares of Lam Research are scheduled 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 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 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 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 previous year, the firm earned $5.98 earnings per share. The firm’s quarterly revenue was up 20.7% on a year-over-year basis. Analysts forecast that Lam Research Co. will post 35.2 EPS for the current fiscal year.

Lam Research Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be issued a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 1.22%. The ex-dividend date is Tuesday, September 17th. This is a positive change from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s dividend payout ratio is 33.84%.

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.