Resources Management Corp CT ADV Has $2.86 Million Position in Lam Research Co. (NASDAQ:LRCX)

Resources Management Corp CT ADV lessened its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 1.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 2,688 shares of the semiconductor company’s stock after selling 33 shares during the period. Resources Management Corp CT ADV’s holdings in Lam Research were worth $2,862,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Symmetry Investments LP acquired a new position in shares of Lam Research during the second quarter worth approximately $3,229,000. Cypress Capital Group grew its stake in shares of Lam Research by 23.1% in the second quarter. Cypress Capital Group now owns 3,528 shares of the semiconductor company’s stock worth $3,757,000 after acquiring an additional 661 shares during the last quarter. Meeder Advisory Services Inc. grew its stake in shares of Lam Research by 29.4% in the second quarter. Meeder Advisory Services Inc. now owns 3,022 shares of the semiconductor company’s stock worth $3,218,000 after acquiring an additional 686 shares during the last quarter. Brookstone Capital Management grew its stake in shares of Lam Research by 142.6% in the second quarter. Brookstone Capital Management now owns 1,601 shares of the semiconductor company’s stock worth $1,705,000 after acquiring an additional 941 shares during the last quarter. Finally, Tairen Capital Ltd grew its stake in shares of Lam Research by 199.5% in the second quarter. Tairen Capital Ltd now owns 163,605 shares of the semiconductor company’s stock worth $174,215,000 after acquiring an additional 108,973 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Insiders Place Their Bets

In other Lam Research news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief accounting officer now directly owns 4,914 shares of the company’s stock, valued at approximately $5,219,945.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction dated 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 completion of 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 Securities & Exchange Commission, which is available through this link. Also, CEO Timothy Archer sold 9,650 shares of the company’s stock in a transaction that occurred on 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. In the last three months, insiders sold 16,326 shares of company stock valued at $17,383,715. 0.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LRCX. StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. UBS Group lowered their price objective on shares of Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Needham & Company LLC restated a “buy” rating and issued a $1,130.00 price objective on shares of Lam Research in a research note on Thursday, August 1st. Cantor Fitzgerald reiterated a “neutral” rating and set a $1,200.00 price target on shares of Lam Research in a research note on Thursday, August 1st. Finally, TD Cowen lifted their price target on shares of Lam Research from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,012.84.

Lam Research Stock Up 1.4 %

Shares of NASDAQ LRCX opened at $784.08 on Tuesday. The stock has a market cap of $102.51 billion, a PE ratio of 28.84, a PEG ratio of 1.48 and a beta of 1.48. The business has a fifty day moving average of $830.71 and a two-hundred day moving average of $923.65. Lam Research Co. has a 52-week low of $574.42 and a 52-week high of $1,130.00. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97.

Lam Research shares are going 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 released its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.58 by $0.56. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The business had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same period in the previous year, the business posted $5.98 earnings per share. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. As a group, equities research analysts expect that Lam Research Co. will post 35.2 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The firm 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 represents a $9.20 dividend on an annualized basis and a dividend yield of 1.17%. 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. Lam Research’s payout ratio is currently 33.84%.

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.