Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Addison Advisors LLC

Addison Advisors LLC increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 7.4% in the second quarter, Holdings Channel reports. The firm owned 292 shares of the semiconductor company’s stock after buying an additional 20 shares during the quarter. Addison Advisors LLC’s holdings in Lam Research were worth $311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. CarsonAllaria Wealth Management Ltd. acquired a new stake in Lam Research during the 2nd quarter worth $32,000. RFP Financial Group LLC boosted 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 worth $37,000 after purchasing an additional 12 shares during the period. DSM Capital Partners LLC acquired a new stake in Lam Research during the 4th quarter worth $28,000. Hobbs Group Advisors LLC acquired a new stake in shares of Lam Research in the 2nd quarter worth $40,000. Finally, Partnership Wealth Management LLC purchased a new stake in shares of Lam Research in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

LRCX has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price target on shares of Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. Jefferies Financial Group initiated coverage on shares of Lam Research in a research note on Monday, May 13th. They set a “buy” rating and a $1,100.00 price target on the stock. Raymond James boosted their price target on shares of Lam Research from $950.00 to $1,060.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Needham & Company LLC reiterated a “buy” rating and set a $1,130.00 price target on shares of Lam Research in a research note on Thursday, August 1st. Finally, 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. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,006.10.

Lam Research Stock Down 2.4 %

NASDAQ LRCX traded down $17.99 during trading hours on Friday, reaching $737.93. 239,528 shares of the company traded hands, compared to its average volume of 1,069,794. Lam Research Co. has a 12 month low of $574.42 and a 12 month high of $1,130.00. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $96.48 billion, a PE ratio of 27.80, a PEG ratio of 1.58 and a beta of 1.48. The company has a 50 day moving average of $908.33 and a two-hundred day moving average of $939.43.

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

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

Lam Research Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be given a $2.30 dividend. This is an increase 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 1.25%. The ex-dividend date of this dividend is Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is presently 33.84%.

Lam Research declared that its board has approved a stock buyback plan on Tuesday, May 21st that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 8.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

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 sale, the senior vice president now owns 5,237 shares of the company’s stock, valued at approximately $5,535,456.63. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 sale, the senior vice president now owns 5,237 shares of the company’s stock, valued at approximately $5,535,456.63. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy Archer sold 9,650 shares of the firm’s 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 transaction, the chief executive officer now directly owns 84,639 shares in the company, valued at approximately $90,596,739.21. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,326 shares of company stock worth $17,383,715. 0.32% of the stock is currently owned by insiders.

About Lam Research

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.