Lam Research Co. (NASDAQ:LRCX) Stake Increased by Intech Investment Management LLC

Intech Investment Management LLC increased its stake in Lam Research Co. (NASDAQ:LRCX) by 3.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,150 shares of the semiconductor company’s stock after buying an additional 371 shares during the period. Intech Investment Management LLC’s holdings in Lam Research were worth $12,938,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. DSM Capital Partners LLC bought a new stake in Lam Research during the fourth quarter valued at $28,000. CarsonAllaria Wealth Management Ltd. bought a new stake in Lam Research during the second quarter valued at $32,000. RFP Financial Group LLC increased its stake in Lam Research by 52.2% during 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 last quarter. Raleigh Capital Management Inc. increased its stake in Lam Research by 78.6% during the fourth quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 22 shares during the last quarter. Finally, Hobbs Group Advisors LLC bought a new stake in Lam Research during the second quarter valued at $40,000. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

LRCX has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft lowered their target price 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. Morgan Stanley reduced their price target on shares of Lam Research from $929.00 to $774.00 and set an “equal weight” rating for the company in a report on Tuesday. Mizuho reduced their price target on shares of Lam Research from $1,050.00 to $950.00 and set an “outperform” rating for the company in a report on Friday. Needham & Company LLC reissued a “buy” rating and set a $1,130.00 price target on shares of Lam Research in a report on Thursday, August 1st. Finally, Barclays upped 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. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,012.84.

Insiders Place Their Bets

In other news, CEO Timothy Archer sold 9,650 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 84,639 shares in the company, valued at approximately $90,596,739.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Timothy Archer sold 9,650 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 84,639 shares in the company, valued at approximately $90,596,739.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Neil J. Fernandes sold 4,409 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 16,326 shares of company stock worth $17,383,715. Company insiders own 0.32% of the company’s stock.

Lam Research Price Performance

Shares of Lam Research stock opened at $773.19 on Friday. The company’s 50-day moving average price is $836.41 and its two-hundred day moving average price is $925.79. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. The stock has a market cap of $101.09 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 1.48 and a beta of 1.48. 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 on the morning of Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be payable 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.58 by $0.56. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.98 EPS. As a group, sell-side analysts anticipate that Lam Research Co. will post 35.2 EPS for the current fiscal year.

Lam Research Increases Dividend

The business also recently disclosed 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 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Tuesday, September 17th. This is an increase from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s 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.