Octahedron Capital Management L.P. Sells 490 Shares of Lam Research Co. (NASDAQ:LRCX)

Octahedron Capital Management L.P. decreased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 50.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 490 shares of the semiconductor company’s stock after selling 490 shares during the quarter. Lam Research comprises approximately 0.5% of Octahedron Capital Management L.P.’s investment portfolio, making the stock its 17th biggest holding. Octahedron Capital Management L.P.’s holdings in Lam Research were worth $522,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. DSM Capital Partners LLC bought a new stake in shares of Lam Research during the 4th quarter valued at $28,000. CarsonAllaria Wealth Management Ltd. bought a new position in Lam Research during the second quarter worth about $32,000. RFP Financial Group LLC boosted its holdings in Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after buying an additional 12 shares during the last quarter. Raleigh Capital Management Inc. grew its position in shares of Lam Research by 78.6% during the 4th quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock worth $39,000 after buying an additional 22 shares during the period. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Lam Research in the 2nd quarter valued at approximately $40,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $773.19 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. The business has a 50-day moving average of $836.41 and a 200-day moving average of $925.79. The stock has a market capitalization of $101.09 billion, a price-to-earnings ratio of 28.44, a PEG ratio of 1.48 and a beta of 1.48. 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 scheduled 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 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.58 by $0.56. The company had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The business’s revenue was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.98 EPS. As a group, sell-side analysts predict 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. Stockholders of record on Tuesday, September 17th will be paid a dividend of $2.30 per share. The ex-dividend date is Tuesday, September 17th. This is a positive change from Lam Research’s previous quarterly dividend of $2.00. This represents a $9.20 annualized dividend and a dividend yield of 1.19%. Lam Research’s payout ratio is currently 33.84%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LRCX. B. Riley increased their target price 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. Mizuho decreased their target price on Lam Research from $1,050.00 to $950.00 and set an “outperform” rating for the company in a research note on Friday. Morgan Stanley cut their price objective on Lam Research from $929.00 to $774.00 and set an “equal weight” rating on the stock in a report on Tuesday. Needham & Company LLC reiterated a “buy” rating and issued a $1,130.00 price objective on shares of Lam Research in a research report on Thursday, August 1st. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $1,200.00 target price on shares of Lam Research in a report on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,012.84.

Insider Activity

In related news, SVP Neil J. Fernandes sold 4,409 shares of Lam Research stock in a transaction dated 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 completion of 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 filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Neil J. Fernandes sold 4,409 shares of the firm’s stock in a transaction dated 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 completion of the sale, the senior vice president now owns 6,857 shares in the company, valued at approximately $7,239,346.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Timothy Archer sold 9,650 shares of the company’s stock in a transaction dated 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 completion of the transaction, 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 ninety days, insiders have sold 16,326 shares of company stock valued at $17,383,715. 0.32% of the stock is owned by company insiders.

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.