Fidelis Capital Partners LLC Boosts Stock Position in Lam Research Co. (NASDAQ:LRCX)

Fidelis Capital Partners LLC lifted its position in Lam Research Co. (NASDAQ:LRCX) by 22.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,406 shares of the semiconductor company’s stock after purchasing an additional 449 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Lam Research were worth $2,562,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. CarsonAllaria Wealth Management Ltd. acquired a new stake in Lam Research during the 2nd quarter valued at approximately $32,000. RFP Financial Group LLC increased its stake 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 worth $37,000 after acquiring an additional 12 shares during the period. DSM Capital Partners LLC purchased a new position in shares of Lam Research during the fourth quarter worth $28,000. Hobbs Group Advisors LLC acquired a new position in Lam Research during the second quarter valued at $40,000. Finally, Country Trust Bank purchased a new stake in Lam Research in the second quarter valued at $43,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lam Research

In other news, CEO Timothy Archer sold 9,650 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $1,070.39, for a total transaction of $10,329,263.50. Following the transaction, the chief executive officer now directly owns 84,639 shares in the company, valued at approximately $90,596,739.21. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated 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 of the company’s stock, valued at $5,219,945.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy Archer sold 9,650 shares of the 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 completion of the sale, the chief executive officer now directly owns 84,639 shares of the company’s stock, valued at approximately $90,596,739.21. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,326 shares of company stock worth $17,383,715. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. B. Riley boosted their price objective 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. Morgan Stanley decreased their price target on Lam Research from $929.00 to $774.00 and set an “equal weight” rating for the company in a report on Tuesday, September 17th. Barclays raised their price objective on shares of Lam Research from $865.00 to $900.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $1,130.00 target price on shares of Lam Research in a report on Thursday, August 1st. Finally, Citigroup lowered their price target on shares of Lam Research from $990.00 to $893.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,012.84.

Lam Research Price Performance

NASDAQ:LRCX opened at $773.19 on Friday. The firm has a market cap of $101.09 billion, a P/E ratio of 28.44, a price-to-earnings-growth ratio of 1.48 and a beta of 1.48. The stock has a 50 day moving average of $836.41 and a two-hundred day moving average of $925.53. Lam Research Co. has a 12 month low of $574.42 and a 12 month high of $1,130.00. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52.

Lam Research shares are set to split before the market opens on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly issued shares will be issued to shareholders after the closing bell 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 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 company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same quarter last year, the firm posted $5.98 EPS. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, analysts expect that Lam Research Co. will post 35.2 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be paid a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 1.19%. The ex-dividend date is Tuesday, September 17th. This is a boost from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s dividend payout ratio is currently 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.