Lazari Capital Management Inc. Decreases Stake in Lam Research Co. (NASDAQ:LRCX)

Lazari Capital Management Inc. lowered its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 5.5% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 274 shares of the semiconductor company’s stock after selling 16 shares during the period. Lazari Capital Management Inc.’s holdings in Lam Research were worth $292,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Lam Research during the 2nd quarter valued at $32,000. RFP Financial Group LLC boosted its position in Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 12 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of Lam Research during the 2nd quarter valued at about $40,000. Country Trust Bank bought a new position in shares of Lam Research in the 2nd quarter worth approximately $43,000. Finally, MFA Wealth Advisors LLC bought a new position in shares of Lam Research in the 2nd quarter worth approximately $45,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Activity at Lam Research

In other news, SVP Neil J. Fernandes sold 1,620 shares of the business’s stock in a transaction dated 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 owns 5,237 shares in the company, valued at $5,535,456.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Lam Research Stock Performance

Lam Research stock opened at $797.38 on Wednesday. Lam Research Co. has a fifty-two week low of $574.42 and a fifty-two week high of $1,130.00. The company has a market capitalization of $104.25 billion, a PE ratio of 29.33, a P/E/G ratio of 1.51 and a beta of 1.48. The company has a 50 day moving average price of $811.37 and a 200-day moving average price of $918.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97.

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 created shares will be distributed 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, topping the consensus estimate of $7.58 by $0.56. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The firm had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.82 billion. During the same quarter in the previous year, the business posted $5.98 EPS. Lam Research’s revenue was up 20.7% on a year-over-year basis. As a group, equities analysts forecast that Lam Research Co. will post 35.2 earnings per share for the current year.

Lam Research Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were paid a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 1.15%. This is an increase from Lam Research’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend was Tuesday, September 17th. Lam Research’s payout ratio is 33.84%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. UBS Group reduced their target price on shares of Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Morgan Stanley decreased their target price on Lam Research from $929.00 to $774.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 17th. B. Riley boosted their price target on Lam Research from $1,130.00 to $1,325.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Raymond James lifted their price objective on Lam Research from $950.00 to $1,060.00 and gave the company an “outperform” rating in a research report on Friday, June 7th. Finally, Wells Fargo & Company lowered their price target on shares of Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,002.32.

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.