XTX Topco Ltd Sells 117 Shares of Lam Research Co. (NASDAQ:LRCX)

XTX Topco Ltd reduced its holdings in Lam Research Co. (NASDAQ:LRCX) by 15.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 655 shares of the semiconductor company’s stock after selling 117 shares during the period. XTX Topco Ltd’s holdings in Lam Research were worth $697,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. DSM Capital Partners LLC acquired a new position in Lam Research during the 4th quarter valued at $28,000. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Lam Research in the second quarter valued at about $32,000. RFP Financial Group LLC grew its position in Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after buying an additional 12 shares in 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 acquiring an additional 22 shares during the period. Finally, Hobbs Group Advisors LLC acquired a new position in Lam Research in the 2nd quarter valued at approximately $40,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Stock Down 2.0 %

Shares of NASDAQ LRCX opened at $773.19 on Monday. 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 company has a market cap of $101.09 billion, a price-to-earnings 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. The firm’s 50-day simple moving average is $836.41 and its 200 day simple moving average is $925.14.

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

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $3.82 billion. During the same period in the prior year, the firm earned $5.98 earnings per share. Lam Research’s revenue was up 20.7% compared to the same quarter last year. On average, research 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. Investors of record on Tuesday, September 17th will be issued a $2.30 dividend. This is a boost from Lam Research’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $9.20 annualized dividend and a yield of 1.19%. Lam Research’s dividend payout ratio (DPR) is currently 33.84%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LRCX. Cantor Fitzgerald restated a “neutral” rating and set a $1,200.00 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 research note on Friday, July 26th. Morgan Stanley decreased their target price 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. Mizuho dropped 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 research report on Friday. Finally, Wells Fargo & Company decreased their price objective on Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,012.84.

Insider Buying and Selling

In other Lam Research news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were 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 approximately $5,219,945.64. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Lam Research news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the completion of the sale, the chief accounting officer now owns 4,914 shares in the company, valued at approximately $5,219,945.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy Archer sold 9,650 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 84,639 shares in the company, valued at $90,596,739.21. The disclosure for this sale can be found here. Insiders sold a total of 16,326 shares of company stock worth $17,383,715 over the last three months. 0.32% of the stock is currently owned by company insiders.

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.