Garden State Investment Advisory Services LLC Takes Position in Lam Research Co. (NASDAQ:LRCX)

Garden State Investment Advisory Services LLC acquired a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 254 shares of the semiconductor company’s stock, valued at approximately $273,000.

A number of other institutional investors also recently added to or reduced their stakes in LRCX. DSM Capital Partners LLC purchased a new position in Lam Research in the fourth quarter worth $28,000. CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Lam Research in the 2nd quarter worth $32,000. RFP Financial Group LLC grew its stake in Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after buying an additional 12 shares during the last quarter. Raleigh Capital Management Inc. increased its position in Lam Research by 78.6% during the 4th quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 22 shares in the last quarter. Finally, Hobbs Group Advisors LLC purchased a new stake in Lam Research in the second quarter valued at about $40,000. Institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling

In other Lam Research news, SVP Neil J. Fernandes sold 1,620 shares of the firm’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 value of $1,712,323.80. Following the sale, the senior vice president now directly owns 5,237 shares of the company’s stock, valued at $5,535,456.63. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, 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 transaction 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 legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Neil J. Fernandes sold 1,620 shares of Lam Research stock in a transaction dated 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 completion of the sale, the senior vice president now owns 5,237 shares in the company, valued at $5,535,456.63. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,326 shares of company stock valued at $17,383,715. 0.32% of the stock is owned by company insiders.

Analyst Ratings Changes

LRCX has been the topic of a number of research analyst reports. Mizuho dropped their price target on Lam Research from $1,050.00 to $950.00 and set an “outperform” rating on the stock in a research note on Friday. Deutsche Bank Aktiengesellschaft cut 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 research note on Thursday, August 1st. UBS Group decreased their price target on shares of Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Morgan Stanley dropped 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. Finally, Wells Fargo & Company reduced 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 equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,012.84.

Lam Research Stock Down 2.0 %

Shares of LRCX stock opened at $773.19 on Friday. Lam Research Co. has a twelve month low of $574.42 and a twelve month high of $1,130.00. 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. The stock has a 50 day moving average of $836.41 and a 200 day moving average of $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.

Lam Research’s stock is 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 issued to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.58 by $0.56. The firm 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 business’s revenue was up 20.7% compared to the same quarter last year. During the same period in the previous year, the business posted $5.98 EPS. As a group, sell-side analysts expect that Lam Research Co. will post 35.2 EPS for the current year.

Lam Research Increases Dividend

The firm also recently announced 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. The ex-dividend date is Tuesday, September 17th. This is a boost from Lam Research’s previous quarterly dividend of $2.00. This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.19%. Lam Research’s dividend payout ratio (DPR) is 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.