Sienna Gestion Grows Holdings in Lam Research Co. (NASDAQ:LRCX)

Sienna Gestion boosted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 1,158.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 6,391 shares of the semiconductor company’s stock after purchasing an additional 5,883 shares during the period. Sienna Gestion’s holdings in Lam Research were worth $6,802,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Gryphon Financial Partners LLC purchased a new stake in Lam Research during the 4th quarter valued at approximately $476,000. Gladstone Institutional Advisory LLC raised its stake in shares of Lam Research by 5.5% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 693 shares of the semiconductor company’s stock worth $543,000 after purchasing an additional 36 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Lam Research by 1.2% during the fourth quarter. D.A. Davidson & CO. now owns 10,508 shares of the semiconductor company’s stock worth $8,231,000 after purchasing an additional 124 shares during the period. Assetmark Inc. grew its position in Lam Research by 18.6% in the 4th quarter. Assetmark Inc. now owns 22,040 shares of the semiconductor company’s stock valued at $17,263,000 after buying an additional 3,454 shares during the last quarter. Finally, Dai ichi Life Insurance Company Ltd increased its stake in Lam Research by 59.9% in the 4th quarter. Dai ichi Life Insurance Company Ltd now owns 14,992 shares of the semiconductor company’s stock valued at $11,743,000 after buying an additional 5,618 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LRCX. TD Cowen lifted their target price on shares of Lam Research from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Barclays boosted their target price on Lam Research from $865.00 to $900.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 5th. B. Riley increased their target price on Lam Research from $1,130.00 to $1,325.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Raymond James raised their price objective on shares of Lam Research from $950.00 to $1,060.00 and gave the company an “outperform” rating in a research note on Friday, June 7th. Finally, Citigroup reduced their price objective on Lam Research from $990.00 to $893.00 and set a “buy” rating for the company in a report on Monday. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,013.37.

Insider Buying and Selling

In other Lam Research news, SVP Neil J. Fernandes sold 4,409 shares of the business’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 completion of the sale, the senior vice president now owns 6,857 shares of the company’s stock, valued at $7,239,346.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $1,062.26, for a total value of $687,282.22. Following the transaction, the chief accounting officer now owns 4,914 shares of the company’s stock, valued at approximately $5,219,945.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Neil J. Fernandes sold 4,409 shares of the company’s stock in a transaction on 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 sale, the senior vice president now directly owns 6,857 shares of the company’s stock, valued at $7,239,346.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,326 shares of company stock valued at $17,383,715. 0.32% of the stock is currently owned by company insiders.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $755.87 on Thursday. 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 $98.82 billion, a PE ratio of 27.80, a price-to-earnings-growth ratio of 1.48 and a beta of 1.48. The company has a 50-day simple moving average of $847.76 and a 200-day simple moving average of $928.18. Lam Research Co. has a 12 month low of $574.42 and a 12 month high of $1,130.00.

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

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share 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 business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same period in the prior year, the firm posted $5.98 EPS. The company’s revenue was up 20.7% on a year-over-year basis. On average, equities analysts anticipate that Lam Research Co. will post 35.2 earnings per share for the current year.

Lam Research Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.22%. This is an increase from Lam Research’s previous quarterly dividend of $2.00. The ex-dividend date is Tuesday, September 17th. 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.