Frank Rimerman Advisors LLC Acquires 2,904 Shares of Lam Research Co. (NASDAQ:LRCX)

Frank Rimerman Advisors LLC raised its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 36,300.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,912 shares of the semiconductor company’s stock after acquiring an additional 2,904 shares during the period. Frank Rimerman Advisors LLC’s holdings in Lam Research were worth $3,101,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in LRCX. DSM Capital Partners LLC bought a new position in Lam Research during the fourth quarter valued at approximately $28,000. CarsonAllaria Wealth Management Ltd. bought a new stake in Lam Research in the 2nd quarter worth approximately $32,000. RFP Financial Group LLC raised 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 valued at $37,000 after buying an additional 12 shares during the last quarter. Raleigh Capital Management Inc. lifted its holdings in shares of 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 during the period. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Lam Research in the 2nd quarter worth $40,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Timothy Archer sold 9,650 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was 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 directly owns 84,639 shares in the company, valued at approximately $90,596,739.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Neil J. Fernandes sold 1,620 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now directly owns 5,237 shares in the company, valued at approximately $5,535,456.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 directly 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 have sold a total of 16,326 shares of company stock valued at $17,383,715 in the last quarter. 0.32% of the stock is currently owned by insiders.

Lam Research Trading Down 2.0 %

Shares of LRCX opened at $773.19 on Friday. Lam Research Co. has a 1 year low of $574.42 and a 1 year high of $1,130.00. The company has a 50 day simple moving average of $836.41 and a two-hundred day simple moving average of $925.53. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. The firm has a market cap of $101.09 billion, a P/E ratio of 28.44, a price-to-earnings-growth ratio of 1.48 and a beta of 1.48.

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

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 EPS for the quarter, topping the consensus estimate of $7.58 by $0.56. The business had revenue of $3.87 billion for 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 quarterly revenue 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. On average, equities analysts expect that Lam Research Co. will post 35.2 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The company also recently declared 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 a boost from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s dividend payout ratio (DPR) is currently 33.84%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Barclays increased their target price on Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a report on Wednesday, June 5th. Mizuho lowered their price objective on shares of Lam Research from $1,050.00 to $950.00 and set an “outperform” rating on the stock in a research note on Friday. Raymond James upped their target price on shares of Lam Research from $950.00 to $1,060.00 and gave the company an “outperform” rating in a report on Friday, June 7th. Morgan Stanley decreased their price target on shares of Lam Research from $929.00 to $774.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 17th. Finally, Citigroup cut their price objective on shares of Lam Research from $990.00 to $893.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.