Thrivent Financial for Lutherans Buys 2,288 Shares of Lam Research Co. (NASDAQ:LRCX)

Thrivent Financial for Lutherans increased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 6.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 35,655 shares of the semiconductor company’s stock after purchasing an additional 2,288 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Lam Research were worth $37,967,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Lam Research by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after purchasing an additional 144,914 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Lam Research by 3.0% during the 4th quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock valued at $2,329,037,000 after purchasing an additional 86,721 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Lam Research by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock valued at $2,875,023,000 after acquiring an additional 142,903 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Lam Research by 7.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock valued at $1,335,522,000 after acquiring an additional 89,470 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in Lam Research by 11.1% in the 2nd quarter. Van ECK Associates Corp now owns 1,075,893 shares of the semiconductor company’s stock valued at $1,145,664,000 after acquiring an additional 107,778 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Lam Research Trading Down 2.0 %

Shares of NASDAQ LRCX opened at $773.19 on Monday. 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 stock has a market capitalization 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. Lam Research Co. has a 1-year low of $574.42 and a 1-year high of $1,130.00. The business has a fifty day moving average price of $836.41 and a 200 day moving average price of $925.14.

Lam Research’s stock is scheduled to split 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 closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share for the quarter, topping analysts’ consensus estimates of $7.58 by $0.56. The firm had revenue of $3.87 billion during 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 firm’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the business posted $5.98 EPS. Equities research analysts expect that Lam Research Co. will post 35.2 EPS for the current fiscal year.

Lam Research Increases Dividend

The firm also recently announced 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 a positive change from Lam Research’s previous quarterly dividend of $2.00. This represents a $9.20 annualized dividend and a yield of 1.19%. The ex-dividend date is Tuesday, September 17th. Lam Research’s dividend payout ratio is currently 33.84%.

Wall Street Analysts Forecast Growth

LRCX has been the topic of several research analyst reports. UBS Group cut their price objective on Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Mizuho cut their price objective on Lam Research from $1,050.00 to $950.00 and set an “outperform” rating on the stock in a research report on Friday. TD Cowen upped their price objective on Lam Research from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $1,200.00 price objective on shares of Lam Research in a research report on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,012.84.

Insider Activity at Lam Research

In related news, SVP Neil J. Fernandes sold 4,409 shares of the company’s 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 transaction, the senior vice president now directly owns 6,857 shares of the company’s stock, valued at approximately $7,239,346.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Neil J. Fernandes sold 4,409 shares of the company’s 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 transaction, the senior vice president now directly owns 6,857 shares of the company’s stock, valued at approximately $7,239,346.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy Archer sold 9,650 shares of the stock in a transaction dated 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 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. Corporate insiders own 0.32% of the company’s stock.

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.