Sunbelt Securities Inc. Acquires 58 Shares of Lam Research Co. (NASDAQ:LRCX)

Sunbelt Securities Inc. lifted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 3.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,533 shares of the semiconductor company’s stock after acquiring an additional 58 shares during the quarter. Sunbelt Securities Inc.’s holdings in Lam Research were worth $1,633,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its position in Lam Research by 0.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 49,056 shares of the semiconductor company’s stock valued at $52,246,000 after purchasing an additional 433 shares during the last quarter. Silver Lake Advisory LLC acquired a new stake in Lam Research during the 2nd quarter worth approximately $261,000. Creative Planning increased its stake in Lam Research by 1.4% during the 2nd quarter. Creative Planning now owns 46,231 shares of the semiconductor company’s stock worth $49,229,000 after acquiring an additional 639 shares during the period. Oliver Lagore Vanvalin Investment Group increased its stake in Lam Research by 9.8% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 841 shares of the semiconductor company’s stock worth $896,000 after acquiring an additional 75 shares during the period. Finally, Smith Thornton Advisors LLC bought a new position in Lam Research during the 2nd quarter worth $341,000. Institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on LRCX shares. Mizuho decreased 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, September 20th. TD Cowen lifted their target price on Lam Research from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Cantor Fitzgerald dropped their price objective on Lam Research from $1,200.00 to $1,000.00 and set a “neutral” rating on the stock in a research note on Monday. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Finally, Raymond James boosted their price objective on Lam Research from $950.00 to $1,060.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. Six 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,002.32.

Insider Transactions at Lam Research

In other news, SVP Neil J. Fernandes sold 1,620 shares of the stock in a transaction 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 completion of the sale, the senior vice president now owns 5,237 shares in the company, valued at approximately $5,535,456.63. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Lam Research Trading Down 1.3 %

Shares of LRCX stock opened at $816.08 on Tuesday. Lam Research Co. has a 1 year low of $574.42 and a 1 year high of $1,130.00. The firm has a fifty day moving average price of $814.61 and a 200-day moving average price of $919.39. 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 company has a market cap of $106.70 billion, a price-to-earnings ratio of 30.01, a PEG ratio of 1.51 and a beta of 1.48.

Shares of Lam Research are scheduled to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly created shares will be issued to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 EPS for the quarter, topping the consensus estimate of $7.58 by $0.56. The business had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.98 EPS. As a group, equities analysts predict that Lam Research Co. will post 35.2 earnings per share for the current year.

Lam Research Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be given a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend 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 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.