Ieq Capital LLC Grows Position in Lam Research Co. (NASDAQ:LRCX)

Ieq Capital LLC raised its stake in Lam Research Co. (NASDAQ:LRCX) by 5.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,655 shares of the semiconductor company’s stock after acquiring an additional 799 shares during the quarter. Ieq Capital LLC’s holdings in Lam Research were worth $15,606,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC grew its stake in Lam Research by 16.7% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock worth $67,000 after acquiring an additional 9 shares during the period. Thomasville National Bank increased its stake in Lam Research by 1.5% in the second quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock valued at $865,000 after purchasing an additional 12 shares during the last quarter. Ignite Planners LLC lifted its position in Lam Research by 2.8% during the second quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock worth $484,000 after buying an additional 12 shares during the period. U.S. Capital Wealth Advisors LLC boosted its stake in Lam Research by 3.7% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock worth $357,000 after buying an additional 12 shares during the last quarter. Finally, RFP Financial Group LLC grew its holdings in Lam Research by 52.2% in the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 12 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LRCX. Morgan Stanley cut their price objective on shares of Lam Research from $929.00 to $774.00 and set an “equal weight” rating on the stock in a report on Tuesday. TD Cowen increased their price target on shares of Lam Research from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lowered 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 note on Thursday, August 1st. Cantor Fitzgerald restated a “neutral” rating and set a $1,200.00 price objective on shares of Lam Research in a report on Thursday, August 1st. Finally, UBS Group reduced their target price on Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,013.37.

Insider Buying and Selling

In other Lam Research news, SVP Neil J. Fernandes sold 1,620 shares of the company’s 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 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 at this link. In other Lam Research news, SVP Neil J. Fernandes sold 1,620 shares of the business’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 sale, the senior vice president now owns 5,237 shares in the company, valued at $5,535,456.63. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Timothy Archer sold 9,650 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $1,070.39, for a total transaction of $10,329,263.50. Following the completion of the transaction, the chief executive officer now owns 84,639 shares in the company, valued at $90,596,739.21. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,326 shares of company stock worth $17,383,715. Corporate insiders own 0.32% of the company’s stock.

Lam Research Trading Up 4.4 %

LRCX opened at $789.07 on Friday. The firm has a market capitalization of $103.16 billion, a P/E ratio of 29.02, a P/E/G ratio of 1.48 and a beta of 1.48. The firm’s 50 day moving average is $842.35 and its 200-day moving average is $927.21. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. Lam Research Co. has a 52-week low of $574.42 and a 52-week high of $1,130.00.

Lam Research’s stock is going to split before the market opens on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be distributed to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 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 analysts’ expectations 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 was up 20.7% on a year-over-year basis. During the same period in the prior year, the business posted $5.98 EPS. Analysts expect that Lam Research Co. will post 35.2 EPS for the current fiscal year.

Lam Research Increases Dividend

The business 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 dividend of $2.30 per share. This is a boost from Lam Research’s previous quarterly dividend of $2.00. The ex-dividend date is Tuesday, September 17th. This represents a $9.20 annualized dividend and a dividend yield of 1.17%. Lam Research’s dividend payout ratio (DPR) is presently 33.84%.

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.