Clear Rock Advisors LLC Lowers Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Clear Rock Advisors LLC decreased its holdings in Lam Research Co. (NASDAQ:LRCX) by 2.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,056 shares of the semiconductor company’s stock after selling 82 shares during the quarter. Lam Research accounts for approximately 1.8% of Clear Rock Advisors LLC’s holdings, making the stock its 10th biggest position. Clear Rock Advisors LLC’s holdings in Lam Research were worth $4,319,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. CarsonAllaria Wealth Management Ltd. bought a new position in Lam Research during the second quarter valued at approximately $32,000. RFP Financial Group LLC grew its holdings in shares of Lam Research by 52.2% in 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 during the period. Hobbs Group Advisors LLC purchased a new stake in Lam Research during the second quarter valued at $40,000. Country Trust Bank bought a new position in Lam Research in the second quarter valued at about $43,000. Finally, MFA Wealth Advisors LLC purchased a new position in Lam Research in the second quarter worth about $45,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on LRCX shares. 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. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Lam Research from $1,100.00 to $950.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. TD Cowen upped their price objective on 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. Barclays raised their target price on Lam Research from $865.00 to $900.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 5th. Finally, Raymond James upped their price target on Lam Research from $950.00 to $1,060.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,002.32.

Insider Transactions at Lam Research

In related news, SVP Neil J. Fernandes sold 1,620 shares of the 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 completion of the transaction, the senior vice president now owns 5,237 shares of the company’s stock, valued at approximately $5,535,456.63. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.32% of the company’s stock.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $797.38 on Wednesday. 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 firm has a market cap of $104.25 billion, a price-to-earnings ratio of 29.33, a P/E/G ratio of 1.51 and a beta of 1.48. The firm has a fifty day moving average price of $811.37 and a 200 day moving average price of $918.60. Lam Research Co. has a fifty-two week low of $574.42 and a fifty-two week high of $1,130.00.

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

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data 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. The business had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. During the same period in the prior year, the firm earned $5.98 EPS. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. As a group, sell-side 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 disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were paid a $2.30 dividend. This is a boost from Lam Research’s previous quarterly dividend of $2.00. This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is presently 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.