214 Shares in Lam Research Co. (NASDAQ:LRCX) Purchased by MQS Management LLC

MQS Management LLC acquired a new position in Lam Research Co. (NASDAQ:LRCX) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 214 shares of the semiconductor company’s stock, valued at approximately $228,000.

A number of other hedge funds also recently modified their holdings of LRCX. Fortitude Family Office LLC lifted its position in Lam Research by 16.7% in the second quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock worth $67,000 after purchasing an additional 9 shares during the period. Thomasville National Bank lifted its holdings in shares of Lam Research by 1.5% during the 2nd quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock worth $865,000 after acquiring an additional 12 shares during the period. Ignite Planners LLC boosted its position in shares of Lam Research by 2.8% during the 2nd quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock valued at $484,000 after acquiring an additional 12 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its stake in Lam Research by 3.7% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock valued at $357,000 after acquiring an additional 12 shares during the period. Finally, RFP Financial Group LLC raised its position in Lam Research by 52.2% in the second 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. Institutional investors own 84.61% of the company’s stock.

Lam Research Trading Down 2.0 %

Shares of LRCX opened at $773.19 on Friday. The stock’s fifty day simple moving average is $836.41 and its 200-day simple moving average is $925.53. 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 firm has a market capitalization 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 12-month low of $574.42 and a 12-month high of $1,130.00.

Shares of Lam Research are set 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 distributed to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share for the quarter, topping analysts’ consensus estimates of $7.58 by $0.56. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same period in the previous year, the firm posted $5.98 earnings per share. Lam Research’s revenue for the quarter was up 20.7% compared to the same quarter last year. As a group, research analysts predict that Lam Research Co. will post 35.2 earnings per share for the current 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 $2.30 dividend. 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 1.19%. The ex-dividend date is Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is currently 33.84%.

Analyst Ratings Changes

LRCX has been the topic of several analyst reports. B. Riley upped 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. Raymond James increased their price objective on Lam Research from $950.00 to $1,060.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Deutsche Bank Aktiengesellschaft reduced their target price 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 dropped their target price on shares of Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Finally, Morgan Stanley decreased 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 research note on Tuesday, September 17th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,012.84.

Insider Buying and Selling

In other Lam Research news, CAO Christina Correia sold 647 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total value of $687,282.22. Following the transaction, the chief accounting officer now owns 4,914 shares of the company’s stock, valued at $5,219,945.64. The transaction 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 company’s stock in a transaction that occurred 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 sale, the senior vice president now owns 5,237 shares of the company’s stock, valued at $5,535,456.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction on Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the transaction, the chief accounting officer now directly owns 4,914 shares in the company, valued at $5,219,945.64. The disclosure for this sale can be found here. Insiders sold a total of 16,326 shares of company stock valued at $17,383,715 over the last three months. Company insiders own 0.32% of the company’s stock.

Lam Research 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.