Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. raised its holdings in Lam Research Co. (NASDAQ:LRCX) by 16.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,089 shares of the semiconductor company’s stock after purchasing an additional 1,259 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Lam Research were worth $9,678,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. TD Cowen boosted their price objective on shares of Lam Research from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Raymond James boosted their price target on shares of Lam Research from $950.00 to $1,060.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Morgan Stanley reduced their price objective on shares of Lam Research from $929.00 to $774.00 and set an “equal weight” rating for the company in a research report on Tuesday. StockNews.com cut Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Finally, Wells Fargo & Company cut their target price on 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. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and a consensus price target of $1,012.84.

Lam Research Trading Down 2.0 %

Shares of LRCX stock opened at $773.19 on Friday. 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 quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. The business has a fifty day simple moving average of $836.41 and a 200-day simple moving average of $925.79. The stock has a market cap of $101.09 billion, a P/E ratio of 28.44, a P/E/G ratio of 1.48 and a beta of 1.48.

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

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 25.68% and a return on equity of 48.71%. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.98 earnings per share. On average, analysts forecast that Lam Research Co. will post 35.2 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders 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 yield of 1.19%. The ex-dividend date is Tuesday, September 17th. This is a boost from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s dividend payout ratio is 33.84%.

Insiders Place Their Bets

In other news, SVP Neil J. Fernandes sold 1,620 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $1,056.99, for a total value of $1,712,323.80. Following the sale, the senior vice president now directly owns 5,237 shares in the company, valued at $5,535,456.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 4,914 shares of the company’s stock, valued at approximately $5,219,945.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 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 $5,535,456.63. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,326 shares of company stock valued at $17,383,715. Corporate insiders own 0.32% of the company’s stock.

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.