ASB Consultores LLC Has $810,000 Stock Position in Lam Research Co. (NASDAQ:LRCX)

ASB Consultores LLC decreased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 22.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 761 shares of the semiconductor company’s stock after selling 215 shares during the quarter. ASB Consultores LLC’s holdings in Lam Research were worth $810,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Fortitude Family Office LLC increased its stake in shares of Lam Research by 16.7% during the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock worth $67,000 after purchasing an additional 9 shares during the last quarter. Thomasville National Bank boosted its holdings in shares of Lam Research by 1.5% during the 2nd quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock worth $865,000 after buying an additional 12 shares during the period. Ignite Planners LLC boosted its holdings in shares of Lam Research by 2.8% during the 2nd quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock worth $484,000 after buying an additional 12 shares during the period. U.S. Capital Wealth Advisors LLC boosted its holdings in shares of Lam Research by 3.7% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock worth $357,000 after buying an additional 12 shares during the period. Finally, RFP Financial Group LLC boosted its holdings in shares of Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after buying an additional 12 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LRCX. Needham & Company LLC reaffirmed a “buy” rating and set a $1,130.00 price objective on shares of Lam Research in a report on Thursday, August 1st. Wells Fargo & Company reduced their price target on shares of Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, July 26th. B. Riley increased their price target on shares of Lam Research from $1,130.00 to $1,325.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Finally, Barclays increased their price target on shares of Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a report on Wednesday, June 5th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,013.37.

Lam Research Trading Up 4.4 %

LRCX stock opened at $789.07 on Friday. 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 stock has a market capitalization of $103.16 billion, a price-to-earnings ratio of 29.02, a P/E/G ratio of 1.48 and a beta of 1.48. The business has a fifty day moving average price of $842.35 and a 200 day moving average price of $927.21. Lam Research Co. has a fifty-two week low of $574.42 and a fifty-two 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 created shares will be distributed to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $8.14 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 analyst estimates of $3.82 billion. During the same quarter in the prior year, the firm earned $5.98 EPS. The company’s revenue was up 20.7% on a year-over-year basis. Analysts expect that Lam Research Co. will post 35.2 EPS for the current fiscal year.

Lam Research Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $9.20 annualized dividend and a yield of 1.17%. Lam Research’s dividend payout ratio is currently 33.84%.

Insider Activity

In other news, SVP Neil J. Fernandes sold 1,620 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $1,056.99, for a total transaction of $1,712,323.80. Following the transaction, the senior vice president now owns 5,237 shares of the company’s stock, valued at $5,535,456.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Lam Research news, SVP Neil J. Fernandes sold 1,620 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $1,056.99, for a total value of $1,712,323.80. Following the transaction, the senior vice president now directly owns 5,237 shares of the company’s stock, valued at $5,535,456.63. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Neil J. Fernandes sold 4,409 shares of the 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 transaction, the senior vice president now directly owns 6,857 shares in the company, valued at approximately $7,239,346.32. 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. Company insiders own 0.32% of the company’s stock.

Lam Research Company 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.