Parkside Financial Bank & Trust Grows Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Parkside Financial Bank & Trust grew its holdings in Lam Research Co. (NASDAQ:LRCX) by 2.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 594 shares of the semiconductor company’s stock after acquiring an additional 14 shares during the period. Parkside Financial Bank & Trust’s holdings in Lam Research were worth $632,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. DSM Capital Partners LLC purchased a new stake in shares of Lam Research during the fourth quarter valued at approximately $28,000. CarsonAllaria Wealth Management Ltd. acquired a new position in Lam Research in the 2nd quarter worth $32,000. Partnership Wealth Management LLC acquired a new position in Lam Research in the 4th quarter worth $33,000. RFP Financial Group LLC boosted its position in Lam Research by 52.2% in the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 12 shares during the last quarter. Finally, Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Lam Research during the fourth quarter valued at about $39,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Performance

LRCX traded down $17.99 during trading on Friday, reaching $737.93. 239,528 shares of the company were exchanged, compared to its average volume of 1,069,794. Lam Research Co. has a 52 week low of $574.42 and a 52 week 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 firm has a 50 day moving average of $908.33 and a 200 day moving average of $939.43. The stock has a market cap of $96.48 billion, a P/E ratio of 27.80, a PEG ratio of 1.58 and a beta of 1.48.

Lam Research shares are scheduled 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 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. 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 the consensus estimate of $3.82 billion. During the same period in the previous year, the firm posted $5.98 earnings per share. The business’s revenue was up 20.7% on a year-over-year basis. On average, sell-side analysts forecast that Lam Research Co. will post 35.2 EPS for the current fiscal year.

Lam Research announced that its Board of Directors has initiated a share repurchase program on Tuesday, May 21st that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to repurchase up to 8.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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 issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.25%. This is a positive change from Lam Research’s previous quarterly dividend of $2.00. The ex-dividend date is Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is 33.84%.

Insiders Place Their Bets

In other news, CEO Timothy Archer sold 9,650 shares of the business’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 sale, the chief executive officer now owns 84,639 shares of the company’s stock, valued at approximately $90,596,739.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Timothy Archer sold 9,650 shares of Lam Research 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 value of $10,329,263.50. Following the transaction, the chief executive officer now owns 84,639 shares of the company’s stock, valued at approximately $90,596,739.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Neil J. Fernandes sold 1,620 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $1,056.99, for a total transaction of $1,712,323.80. Following the completion of the sale, the senior vice president now owns 5,237 shares in the company, valued at $5,535,456.63. 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 owned by corporate insiders.

Analyst Upgrades and Downgrades

LRCX has been the subject of a number of analyst reports. Jefferies Financial Group began coverage on Lam Research in a report on Monday, May 13th. They issued a “buy” rating and a $1,100.00 price target for the company. B. Riley increased their target price on Lam Research from $1,130.00 to $1,325.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Needham & Company LLC restated a “buy” rating and issued a $1,130.00 price target on shares of Lam Research in a research note on Thursday, August 1st. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $1,200.00 price target on shares of Lam Research in a report on Thursday, August 1st. Finally, Raymond James raised their price objective 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 equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and a consensus target price of $1,006.10.

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.