Lam Research Co. (NASDAQ:LRCX) Shares Bought by Bradley Foster & Sargent Inc. CT

Bradley Foster & Sargent Inc. CT increased its stake in Lam Research Co. (NASDAQ:LRCX) by 107.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 478 shares of the semiconductor company’s stock after acquiring an additional 248 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Lam Research were worth $509,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Cypress Capital Group boosted its holdings in shares of 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 purchasing an additional 661 shares during the last quarter. Meeder Advisory Services Inc. grew its position in Lam Research by 29.4% during the second quarter. Meeder Advisory Services Inc. now owns 3,022 shares of the semiconductor company’s stock valued at $3,218,000 after acquiring an additional 686 shares during the period. Brookstone Capital Management increased its stake in Lam Research by 142.6% during the second quarter. Brookstone Capital Management now owns 1,601 shares of the semiconductor company’s stock worth $1,705,000 after acquiring an additional 941 shares during the last quarter. FineMark National Bank & Trust raised its holdings in shares of Lam Research by 14.5% in the 2nd quarter. FineMark National Bank & Trust now owns 474 shares of the semiconductor company’s stock worth $505,000 after purchasing an additional 60 shares during the period. Finally, Foundations Investment Advisors LLC lifted its stake in shares of Lam Research by 534.3% in the 2nd quarter. Foundations Investment Advisors LLC now owns 5,569 shares of the semiconductor company’s stock valued at $5,930,000 after purchasing an additional 4,691 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LRCX has been the subject of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $1,130.00 target price on shares of Lam Research in a research report on Thursday, August 1st. TD Cowen raised their target price on shares of Lam Research from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Raymond James lifted their target price on shares of Lam Research from $950.00 to $1,060.00 and gave the company an “outperform” rating in a report on Friday, June 7th. B. Riley increased 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. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Lam Research from $1,100.00 to $950.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. 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 price target of $1,013.37.

Insider Activity

In related news, SVP Neil J. Fernandes sold 4,409 shares of the company’s stock in a transaction dated 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 $7,239,346.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Lam Research news, SVP Neil J. Fernandes sold 1,620 shares of the 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 completion of the sale, the senior vice president now owns 5,237 shares in the company, valued at approximately $5,535,456.63. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Neil J. Fernandes sold 4,409 shares of the business’s stock in a transaction 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 transaction, the senior vice president now owns 6,857 shares in the company, valued at $7,239,346.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,326 shares of company stock valued at $17,383,715. Company insiders own 0.32% of the company’s stock.

Lam Research Stock Up 4.4 %

LRCX stock opened at $789.07 on Friday. The stock has a market cap of $103.16 billion, a PE ratio of 29.02, a price-to-earnings-growth ratio of 1.48 and a beta of 1.48. The firm’s 50-day simple moving average is $842.35 and its 200 day simple moving average is $927.21. Lam Research Co. has a fifty-two week low of $574.42 and a fifty-two week high of $1,130.00. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52.

Shares of Lam Research are 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 released its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share for the quarter, beating analysts’ consensus estimates of $7.58 by $0.56. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The company had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter in the previous year, the company posted $5.98 earnings per share. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. As a group, sell-side analysts predict 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. Stockholders of record on Tuesday, September 17th will be paid a $2.30 dividend. This is a boost 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 dividend yield of 1.17%. Lam Research’s dividend payout ratio is presently 33.84%.

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.