Marietta Investment Partners LLC Has $1.43 Million Stock Position in Lam Research Co. (NASDAQ:LRCX)

Marietta Investment Partners LLC cut its holdings in Lam Research Co. (NASDAQ:LRCX) by 11.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,338 shares of the semiconductor company’s stock after selling 165 shares during the quarter. Marietta Investment Partners LLC’s holdings in Lam Research were worth $1,425,000 as of its most recent SEC filing.

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

Insider Activity at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the 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 completion of the transaction, the chief accounting officer now 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 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 sale, the chief accounting officer now owns 4,914 shares in the company, valued at $5,219,945.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Neil J. Fernandes sold 1,620 shares of Lam Research stock in a transaction 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 completion of 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. In the last three months, insiders have sold 16,326 shares of company stock worth $17,383,715. Company insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

LRCX has been the subject of a number of research reports. Citigroup reduced their price objective on Lam Research from $990.00 to $893.00 and set a “buy” rating for the company in a research note on Monday, September 16th. B. Riley boosted their price target on shares of Lam Research from $1,130.00 to $1,325.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Wells Fargo & Company dropped their price objective on shares of 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. Morgan Stanley decreased their target price 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. Finally, Raymond James increased their price objective on Lam Research from $950.00 to $1,060.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,012.84.

Lam Research Stock Performance

NASDAQ LRCX opened at $773.19 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. The company 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 52-week low of $574.42 and a 52-week high of $1,130.00. The company has a 50-day simple moving average of $836.41 and a 200 day simple moving average of $925.14.

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 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 the consensus estimate of $7.58 by $0.56. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the prior year, the business earned $5.98 earnings per share. Lam Research’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, research analysts predict that Lam Research Co. will post 35.2 EPS for the current year.

Lam Research Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be issued a $2.30 dividend. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $9.20 annualized dividend and a yield of 1.19%. This is a positive change from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s dividend payout ratio (DPR) is 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.