Lam Research Co. (NASDAQ:LRCX) Shares Sold by Davidson Capital Management Inc.

Davidson Capital Management Inc. cut its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 1.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,075 shares of the semiconductor company’s stock after selling 47 shares during the quarter. Lam Research comprises about 1.0% of Davidson Capital Management Inc.’s investment portfolio, making the stock its 20th largest position. Davidson Capital Management Inc.’s holdings in Lam Research were worth $3,274,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on LRCX shares. Citigroup cut their price target on Lam Research from $990.00 to $893.00 and set a “buy” rating for the company in a research note on Monday. B. Riley lifted their price target 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. Raymond James lifted their price objective on Lam Research from $950.00 to $1,060.00 and gave the company an “outperform” rating in a research report on Friday, June 7th. UBS Group reduced their target price on Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Finally, Barclays lifted their price target on Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a report on Wednesday, June 5th. Six 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.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,013.37.

Lam Research Stock Performance

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

Lam Research’s stock is scheduled 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 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 EPS for the quarter, topping the consensus estimate of $7.58 by $0.56. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. Lam Research’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the previous year, the company posted $5.98 EPS. As a group, equities research analysts expect that Lam Research Co. will post 35.2 earnings per share 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 $2.30 dividend. The ex-dividend date is Tuesday, September 17th. This represents a $9.20 dividend on an annualized basis and a yield of 1.17%. This is a positive change from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s payout ratio is currently 33.84%.

Insider Buying and Selling at Lam Research

In related news, SVP Neil J. Fernandes sold 4,409 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Lam Research news, SVP Neil J. Fernandes sold 4,409 shares of Lam Research 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 in the company, valued at approximately $7,239,346.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the senior vice president now owns 5,237 shares of the company’s stock, valued at $5,535,456.63. The disclosure for this sale can be found here. Insiders sold a total of 16,326 shares of company stock valued at $17,383,715 in the last ninety days. Insiders own 0.32% of the company’s stock.

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.