SYSTM Wealth Solutions LLC Has $50,000 Position in Lam Research Co. (NASDAQ:LRCX)

SYSTM Wealth Solutions LLC lowered its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 95.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 47 shares of the semiconductor company’s stock after selling 1,008 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in Lam Research were worth $50,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LRCX. Cypress Capital Group grew its stake in 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 buying an additional 661 shares during the last quarter. Meeder Advisory Services Inc. grew its position in shares of Lam Research by 29.4% in the second quarter. Meeder Advisory Services Inc. now owns 3,022 shares of the semiconductor company’s stock valued at $3,218,000 after purchasing an additional 686 shares during the last quarter. Brookstone Capital Management increased its stake in shares of Lam Research by 142.6% in the second quarter. Brookstone Capital Management now owns 1,601 shares of the semiconductor company’s stock worth $1,705,000 after purchasing an additional 941 shares during the period. FineMark National Bank & Trust lifted its position in shares of Lam Research by 14.5% during 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 last quarter. Finally, Foundations Investment Advisors LLC boosted its stake in Lam Research by 534.3% during 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 during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Trading Up 4.4 %

Shares of LRCX stock opened at $789.07 on Friday. The company 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. Lam Research Co. has a 12-month low of $574.42 and a 12-month 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. The firm has a 50-day moving average price of $842.35 and a 200 day moving average price of $927.21.

Lam Research’s stock is going to split before the market opens on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly created 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 firm had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same period last year, the firm posted $5.98 EPS. The business’s revenue was up 20.7% on a year-over-year basis. Research analysts forecast that Lam Research Co. will post 35.2 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The business 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 dividend of $2.30 per share. This is an increase from Lam Research’s previous quarterly dividend of $2.00. The ex-dividend date is Tuesday, September 17th. This represents a $9.20 annualized dividend and a yield of 1.17%. Lam Research’s dividend payout ratio is 33.84%.

Insiders Place Their Bets

In other news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the transaction, the chief accounting officer now directly owns 4,914 shares in the company, valued at $5,219,945.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Lam Research news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the transaction, the chief accounting officer now owns 4,914 shares of the company’s stock, valued at approximately $5,219,945.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Timothy Archer sold 9,650 shares of Lam Research stock in a transaction on Friday, June 28th. The shares were sold at an average price of $1,070.39, for a total value of $10,329,263.50. Following the completion of the sale, the chief executive officer now directly owns 84,639 shares of the company’s stock, valued at $90,596,739.21. The disclosure for this sale can be found here. Insiders have sold a total of 16,326 shares of company stock valued at $17,383,715 in the last 90 days. 0.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LRCX. Citigroup dropped their price target on Lam Research from $990.00 to $893.00 and set a “buy” rating on the stock in a research report on Monday. Needham & Company LLC reiterated a “buy” rating and set a $1,130.00 target price on shares of Lam Research in a research note on Thursday, August 1st. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Barclays upped their price objective on shares of Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 5th. Finally, TD Cowen lifted their target price on Lam Research from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,013.37.

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.