Heron Bay Capital Management Has $9.81 Million Holdings in Lam Research Co. (NASDAQ:LRCX)

Heron Bay Capital Management lowered its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 4.3% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 9,208 shares of the semiconductor company’s stock after selling 414 shares during the period. Lam Research makes up 2.1% of Heron Bay Capital Management’s investment portfolio, making the stock its 21st biggest holding. Heron Bay Capital Management’s holdings in Lam Research were worth $9,805,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Lam Research during the 2nd quarter worth approximately $32,000. RFP Financial Group LLC grew its position in Lam Research by 52.2% during the 2nd 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 last quarter. DSM Capital Partners LLC bought a new stake in Lam Research during the 4th quarter worth about $28,000. Hobbs Group Advisors LLC bought a new position in shares of Lam Research in the second quarter worth about $40,000. Finally, Country Trust Bank bought a new stake in shares of Lam Research during the second quarter valued at approximately $43,000. Institutional investors own 84.61% of the company’s stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LRCX. Morgan Stanley dropped their price objective on shares of Lam Research from $929.00 to $774.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 17th. Mizuho cut their price target on Lam Research from $1,050.00 to $950.00 and set an “outperform” rating on the stock in a research note on Friday. B. Riley boosted their price objective on Lam Research from $1,130.00 to $1,325.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. UBS Group lowered their price target on shares of Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Finally, Wells Fargo & Company cut their price target on Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating on the stock in a research note 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,012.84.

Lam Research Stock Performance

NASDAQ:LRCX opened at $773.19 on Friday. 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 market capitalization of $101.09 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 1.48 and a beta of 1.48. Lam Research Co. has a twelve month low of $574.42 and a twelve month high of $1,130.00. The stock’s 50-day simple moving average is $836.41 and its 200 day simple moving average is $925.53.

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

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $8.14 EPS for the quarter, beating analysts’ consensus estimates of $7.58 by $0.56. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same period in the prior year, the firm posted $5.98 EPS. The company’s quarterly revenue was up 20.7% on a year-over-year basis. On average, analysts anticipate that Lam Research Co. will post 35.2 EPS for the current fiscal year.

Lam Research Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be issued a dividend of $2.30 per share. This is an increase from Lam Research’s previous quarterly dividend of $2.00. This represents a $9.20 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is presently 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.