Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Joseph Group Capital Management

Joseph Group Capital Management lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 8.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,264 shares of the semiconductor company’s stock after purchasing an additional 245 shares during the quarter. Lam Research comprises approximately 1.8% of Joseph Group Capital Management’s portfolio, making the stock its 10th biggest position. Joseph Group Capital Management’s holdings in Lam Research were worth $3,476,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Benjamin Edwards Inc. lifted its stake in shares of Lam Research by 5.6% in the 2nd quarter. Benjamin Edwards Inc. now owns 320 shares of the semiconductor company’s stock worth $341,000 after acquiring an additional 17 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in Lam Research by 16.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 9,089 shares of the semiconductor company’s stock worth $9,678,000 after purchasing an additional 1,259 shares during the last quarter. Ieq Capital LLC boosted its position in Lam Research by 5.8% during the second quarter. Ieq Capital LLC now owns 14,655 shares of the semiconductor company’s stock worth $15,606,000 after purchasing an additional 799 shares in the last quarter. Intech Investment Management LLC grew its holdings in Lam Research by 3.1% in the second quarter. Intech Investment Management LLC now owns 12,150 shares of the semiconductor company’s stock valued at $12,938,000 after purchasing an additional 371 shares during the last quarter. Finally, MQS Management LLC purchased a new position in shares of Lam Research in the second quarter valued at $228,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Lam Research

In other Lam Research news, CEO Timothy Archer sold 9,650 shares of the firm’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 transaction, the chief executive officer now directly owns 84,639 shares of the company’s stock, valued at $90,596,739.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Lam Research news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief accounting officer now owns 4,914 shares in the company, valued at approximately $5,219,945.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy Archer sold 9,650 shares of Lam Research stock in a transaction that occurred 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 sale, the chief executive officer now owns 84,639 shares in the company, valued at approximately $90,596,739.21. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,326 shares of company stock worth $17,383,715. 0.32% of the stock is currently owned by corporate insiders.

Lam Research Stock Up 4.4 %

Shares of LRCX opened at $789.07 on Friday. The firm 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 company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. The company’s fifty day moving average is $842.35 and its two-hundred day 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.

Lam Research shares are set to split on the morning of Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be issued to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last released 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 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 the consensus estimate of $3.82 billion. During the same period last year, the business posted $5.98 EPS. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. Analysts forecast that Lam Research Co. will post 35.2 earnings per share for the current year.

Lam Research Increases Dividend

The firm also recently announced 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 represents a $9.20 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Tuesday, September 17th. This is an increase from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s dividend payout ratio (DPR) is currently 33.84%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on LRCX shares. Wells Fargo & Company decreased their price objective on shares of Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Needham & Company LLC reissued a “buy” rating and set a $1,130.00 price objective on shares of Lam Research in a research note on Thursday, August 1st. Barclays lifted their price objective on Lam Research from $865.00 to $900.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 5th. B. Riley increased their target price 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, StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,013.37.

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.