Promethos Capital LLC Has $165,000 Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Promethos Capital LLC lessened its position in shares of Lam Research Co. (NASDAQ:LRCX) by 15.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 155 shares of the semiconductor company’s stock after selling 28 shares during the period. Promethos Capital LLC’s holdings in Lam Research were worth $165,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of the business. CarsonAllaria Wealth Management Ltd. acquired a new stake in Lam Research during the 2nd quarter valued at approximately $32,000. RFP Financial Group LLC lifted its holdings in shares of Lam Research by 52.2% in the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 12 shares in the last quarter. DSM Capital Partners LLC acquired a new position in shares of Lam Research during the fourth quarter valued at about $28,000. Hobbs Group Advisors LLC purchased a new stake in shares of Lam Research in the second quarter worth approximately $40,000. Finally, Country Trust Bank bought a new position in Lam Research during the 2nd quarter valued at $43,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Trading Up 4.4 %

NASDAQ:LRCX opened at $789.07 on Friday. The stock has a fifty day moving average price of $842.35 and a 200 day moving average price of $927.21. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. Lam Research Co. has a 12-month low of $574.42 and a 12-month high of $1,130.00. The firm has a market cap of $103.16 billion, a PE ratio of 29.02, a price-to-earnings-growth ratio of 1.48 and a beta of 1.48.

Lam Research shares are scheduled to split before the market opens on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly issued 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, beating analysts’ consensus estimates of $7.58 by $0.56. The company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. Lam Research’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the previous year, the business posted $5.98 earnings per share. Sell-side analysts anticipate that Lam Research Co. will post 35.2 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be given a $2.30 dividend. The ex-dividend date of this dividend is Tuesday, September 17th. This is a positive change from Lam Research’s previous quarterly dividend of $2.00. This represents a $9.20 annualized dividend and a dividend yield of 1.17%. Lam Research’s payout ratio is currently 33.84%.

Analyst Ratings Changes

A number of research firms recently commented on LRCX. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Lam Research from $1,100.00 to $950.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Barclays lifted their price objective on shares of Lam Research from $865.00 to $900.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 5th. B. Riley raised their price objective on Lam Research from $1,130.00 to $1,325.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. TD Cowen boosted their price target on Lam Research from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Morgan Stanley reduced their price target on shares of Lam Research from $929.00 to $774.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Six investment 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.com, Lam Research presently has an average rating of “Moderate Buy” and an average price target of $1,013.37.

Insider Activity

In related news, CEO Timothy Archer sold 9,650 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $1,070.39, for a total value of $10,329,263.50. Following the completion of the transaction, the chief executive officer now directly owns 84,639 shares in the company, valued at $90,596,739.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Lam Research news, SVP Neil J. Fernandes sold 4,409 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total value of $4,654,845.84. Following the completion of the transaction, the senior vice president now owns 6,857 shares in the company, valued at approximately $7,239,346.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy Archer sold 9,650 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $1,070.39, for a total value of $10,329,263.50. Following the sale, the chief executive officer now owns 84,639 shares of the company’s stock, valued at $90,596,739.21. The disclosure for this sale can be found here. Insiders have sold 16,326 shares of company stock worth $17,383,715 over the last ninety days. 0.32% of the stock is currently owned by insiders.

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.