1,252 Shares in Lam Research Co. (NASDAQ:LRCX) Acquired by Circle Wealth Management LLC

Circle Wealth Management LLC bought a new position in shares of Lam Research Co. (NASDAQ:LRCX) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,252 shares of the semiconductor company’s stock, valued at approximately $1,333,000.

Several other large investors have also recently added to or reduced their stakes in LRCX. DSM Capital Partners LLC purchased a new stake in Lam Research during the 4th quarter worth approximately $28,000. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Lam Research in the 2nd quarter valued at approximately $32,000. RFP Financial Group LLC increased its position 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 valued at $37,000 after purchasing an additional 12 shares during the last quarter. Raleigh Capital Management Inc. increased its position in shares of Lam Research by 78.6% in the 4th 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 purchased a new stake in shares of Lam Research in the 2nd quarter valued at approximately $40,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Stock Down 2.0 %

Shares of NASDAQ:LRCX opened at $773.19 on Friday. 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 company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. Lam Research Co. has a 1-year low of $574.42 and a 1-year high of $1,130.00. The firm has a fifty day moving average price of $836.41 and a 200 day moving average price of $925.53.

Lam Research’s stock is set to split 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 announced its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $8.14 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 the consensus estimate 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 quarter in the prior year, the firm earned $5.98 EPS. Sell-side analysts predict that Lam Research Co. will post 35.2 EPS 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 issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend 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 dividend payout ratio (DPR) is currently 33.84%.

Insider Activity

In other news, SVP Neil J. Fernandes sold 4,409 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Neil J. Fernandes sold 4,409 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy Archer sold 9,650 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $1,070.39, for a total transaction of $10,329,263.50. Following the completion of the transaction, the chief executive officer now owns 84,639 shares of the company’s stock, valued at approximately $90,596,739.21. The disclosure for this sale can be found here. Insiders sold 16,326 shares of company stock worth $17,383,715 in the last 90 days. 0.32% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on LRCX shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $1,200.00 price objective on shares of Lam Research in a research report on Thursday, August 1st. Needham & Company LLC reissued a “buy” rating and issued a $1,130.00 price objective on shares of Lam Research in a research report on Thursday, August 1st. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Mizuho lowered their target price 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. Finally, 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 report on Thursday, August 1st. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,012.84.

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.