1,036 Shares in Lam Research Co. (NASDAQ:LRCX) Acquired by 3Chopt Investment Partners LLC

3Chopt Investment Partners LLC purchased a new position in Lam Research Co. (NASDAQ:LRCX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,036 shares of the semiconductor company’s stock, valued at approximately $1,105,000.

A number of other institutional investors also recently modified their holdings of the company. CarsonAllaria Wealth Management Ltd. acquired a new position in Lam Research in the second quarter valued at approximately $32,000. RFP Financial Group LLC boosted its stake 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 acquiring an additional 12 shares in the last quarter. Raleigh Capital Management Inc. grew its holdings in Lam Research by 78.6% in the fourth quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 22 shares during the period. Hobbs Group Advisors LLC acquired a new position in shares of Lam Research during the second quarter valued at about $40,000. Finally, Country Trust Bank bought a new position in shares of Lam Research during the 2nd quarter worth about $43,000. 84.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LRCX has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft decreased their target price on Lam Research from $1,100.00 to $950.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Cantor Fitzgerald lowered their target price on Lam Research from $1,200.00 to $1,000.00 and set a “neutral” rating on the stock in a research report on Monday. TD Cowen boosted their price target on shares of Lam Research from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,130.00 price objective on shares of Lam Research in a research note on Thursday, August 1st. Finally, Raymond James upped their target price on shares of Lam Research from $950.00 to $1,060.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.32.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Neil J. Fernandes sold 1,620 shares of the company’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $1,056.99, for a total value of $1,712,323.80. Following the transaction, the senior vice president now directly owns 5,237 shares in the company, valued at approximately $5,535,456.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.32% of the company’s stock.

Lam Research Trading Down 1.3 %

Shares of Lam Research stock opened at $816.08 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. The stock has a market capitalization of $106.70 billion, a P/E ratio of 30.01, a P/E/G ratio of 1.51 and a beta of 1.48. Lam Research Co. has a 52-week low of $574.42 and a 52-week high of $1,130.00. The stock’s 50-day simple moving average is $814.61 and its 200 day simple moving average is $919.39.

Lam Research’s stock is going to split before the market opens on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly issued shares will be distributed to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.58 by $0.56. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the prior year, the business posted $5.98 earnings per share. The business’s quarterly revenue was up 20.7% on a year-over-year basis. As a group, research analysts anticipate that Lam Research Co. will post 35.2 EPS for the current year.

Lam Research Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be paid a dividend of $2.30 per share. The ex-dividend date is Tuesday, September 17th. This represents a $9.20 annualized dividend and a yield of 1.13%. This is a boost from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s payout ratio is currently 33.84%.

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.