Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board boosted its position in Lam Research Co. (NASDAQ:LRCX) by 2.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 420,117 shares of the semiconductor company’s stock after purchasing an additional 8,295 shares during the period. Canada Pension Plan Investment Board owned approximately 0.32% of Lam Research worth $447,362,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Lam Research in the second quarter valued at $32,000. RFP Financial Group LLC increased its holdings in shares of Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 12 shares in the last quarter. DSM Capital Partners LLC bought a new position in shares of Lam Research in the fourth quarter valued at $28,000. Hobbs Group Advisors LLC acquired a new stake in Lam Research during the 2nd quarter valued at $40,000. Finally, Country Trust Bank acquired a new stake in Lam Research during the 2nd quarter valued at $43,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Barclays boosted their target price on shares of Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 5th. B. Riley upped their price objective on shares of Lam Research from $1,130.00 to $1,325.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Needham & Company LLC reiterated a “buy” rating and issued a $1,130.00 price objective on shares of Lam Research in a report on Thursday, August 1st. Morgan Stanley decreased their price objective on shares of Lam Research from $929.00 to $774.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, 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. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,013.37.

Insider Buying and Selling

In related news, SVP Neil J. Fernandes sold 1,620 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 5,237 shares of the company’s stock, valued at $5,535,456.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other 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 transaction of $1,712,323.80. Following the completion of the sale, the senior vice president now owns 5,237 shares of the company’s stock, valued at $5,535,456.63. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Neil J. Fernandes sold 4,409 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the sale, the senior vice president now directly owns 6,857 shares of the company’s stock, valued at approximately $7,239,346.32. The disclosure for this sale can be found here. Insiders sold 16,326 shares of company stock valued at $17,383,715 over the last quarter. Corporate insiders own 0.32% of the company’s stock.

Lam Research Stock Up 4.4 %

Shares of LRCX opened at $789.07 on Friday. The company has a 50-day simple moving average of $842.35 and a 200-day simple moving average of $927.21. The firm has a market capitalization of $103.16 billion, a P/E ratio of 29.02, a P/E/G ratio of 1.48 and a beta of 1.48. 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.

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 payable to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $8.14 EPS for the quarter, beating analysts’ consensus estimates of $7.58 by $0.56. The business had revenue of $3.87 billion during 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 for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.98 earnings per share. On average, equities research analysts expect that Lam Research Co. will post 35.2 earnings per share for the current year.

Lam Research Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be given a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend 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%.

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.