Lam Research Co. (NASDAQ:LRCX) Shares Purchased by AE Wealth Management LLC

AE Wealth Management LLC boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 22.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 957 shares of the semiconductor company’s stock after buying an additional 176 shares during the quarter. AE Wealth Management LLC’s holdings in Lam Research were worth $1,019,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in LRCX. Cypress Capital Group increased its holdings in Lam Research by 23.1% during the 2nd quarter. Cypress Capital Group now owns 3,528 shares of the semiconductor company’s stock valued at $3,757,000 after acquiring an additional 661 shares in the last quarter. Meeder Advisory Services Inc. raised its position in shares of Lam Research by 29.4% during the 2nd quarter. Meeder Advisory Services Inc. now owns 3,022 shares of the semiconductor company’s stock worth $3,218,000 after purchasing an additional 686 shares during the last quarter. Brookstone Capital Management lifted its stake in Lam Research by 142.6% in the 2nd quarter. Brookstone Capital Management now owns 1,601 shares of the semiconductor company’s stock valued at $1,705,000 after buying an additional 941 shares in the last quarter. FineMark National Bank & Trust grew its holdings in Lam Research by 14.5% during the 2nd quarter. FineMark National Bank & Trust now owns 474 shares of the semiconductor company’s stock valued at $505,000 after buying an additional 60 shares during the last quarter. Finally, Foundations Investment Advisors LLC increased its position in Lam Research by 534.3% during the second quarter. Foundations Investment Advisors LLC now owns 5,569 shares of the semiconductor company’s stock worth $5,930,000 after buying an additional 4,691 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Lam Research news, SVP Neil J. Fernandes sold 1,620 shares of Lam Research stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $1,056.99, for a total transaction of $1,712,323.80. Following the sale, the senior vice president now directly owns 5,237 shares in the company, valued at approximately $5,535,456.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Lam Research news, SVP Neil J. Fernandes sold 1,620 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $1,056.99, for a total transaction of $1,712,323.80. Following the completion of the transaction, the senior vice president now directly owns 5,237 shares of the company’s stock, valued at approximately $5,535,456.63. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Neil J. Fernandes sold 4,409 shares of the company’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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,326 shares of company stock worth $17,383,715. 0.32% of the stock is currently owned by corporate insiders.

Lam Research Stock Performance

Shares of LRCX stock opened at $791.06 on Wednesday. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. The company has a market cap of $103.42 billion, a PE ratio of 29.09, a P/E/G ratio of 1.48 and a beta of 1.48. The company’s fifty day simple moving average is $825.01 and its 200-day simple moving average is $922.49. Lam Research Co. has a 52 week low of $574.42 and a 52 week high of $1,130.00.

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 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 (EPS) for the quarter, beating the consensus estimate of $7.58 by $0.56. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. Lam Research’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter last year, the company earned $5.98 earnings per share. As a group, equities research analysts anticipate 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. Shareholders of record on Tuesday, September 17th will be given a $2.30 dividend. This is a boost from Lam Research’s previous quarterly dividend of $2.00. This represents a $9.20 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Tuesday, September 17th. Lam Research’s dividend payout ratio is presently 33.84%.

Analyst Ratings Changes

Several brokerages have recently issued reports on LRCX. UBS Group reduced 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. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Lam Research from $1,100.00 to $950.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,130.00 target price on shares of Lam Research in a research note on Thursday, August 1st. Finally, Wells Fargo & Company reduced 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 equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,012.84.

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.