Brown Financial Advisors Takes $1.49 Million Position in Lam Research Co. (NASDAQ:LRCX)

Brown Financial Advisors bought a new position in Lam Research Co. (NASDAQ:LRCX) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,398 shares of the semiconductor company’s stock, valued at approximately $1,489,000.

Other institutional investors also recently modified their holdings of the company. Swedbank AB bought a new position in shares of Lam Research during the first quarter valued at approximately $192,668,000. Van ECK Associates Corp grew its stake in shares of Lam Research by 24.6% in the 1st quarter. Van ECK Associates Corp now owns 968,115 shares of the semiconductor company’s stock worth $940,592,000 after buying an additional 191,230 shares during the last quarter. Vanguard Group Inc. increased its position in 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 buying an additional 144,914 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Lam Research by 5.1% during 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 buying an additional 142,903 shares in the last quarter. Finally, Natixis raised its stake in Lam Research by 1,267.1% during the first quarter. Natixis now owns 142,967 shares of the semiconductor company’s stock valued at $138,902,000 after buying an additional 132,509 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $797.38 on Wednesday. The firm’s 50 day moving average price is $811.37 and its 200-day moving average price is $918.60. 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 stock has a market capitalization of $104.25 billion, a PE ratio of 29.33, a price-to-earnings-growth ratio of 1.51 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.

Shares of Lam Research are set 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 market closes 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, topping the consensus estimate of $7.58 by $0.56. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter last year, the company earned $5.98 earnings per share. Equities research analysts expect 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 was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were paid a $2.30 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. 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 dividend yield of 1.15%. Lam Research’s dividend payout ratio is 33.84%.

Insider Activity

In related news, SVP Neil J. Fernandes sold 1,620 shares of the company’s 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 approximately $5,535,456.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on LRCX shares. Barclays raised their price target on Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a report on Wednesday, June 5th. Wells Fargo & Company reduced their price objective on shares of Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. UBS Group dropped their target price on shares of Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Needham & Company LLC reissued a “buy” rating and set a $1,130.00 price target on shares of Lam Research in a research report on Thursday, August 1st. Finally, Citigroup lowered their price objective on Lam Research from $990.00 to $893.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,002.32.

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.