Commonwealth Retirement Investments LLC Decreases Stake in Lam Research Co. (NASDAQ:LRCX)

Commonwealth Retirement Investments LLC decreased its holdings in Lam Research Co. (NASDAQ:LRCX) by 4.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 2,034 shares of the semiconductor company’s stock after selling 95 shares during the quarter. Commonwealth Retirement Investments LLC’s holdings in Lam Research were worth $2,166,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LRCX. Sivia Capital Partners LLC increased its holdings in Lam Research by 15.9% in the second quarter. Sivia Capital Partners LLC now owns 335 shares of the semiconductor company’s stock valued at $357,000 after buying an additional 46 shares in the last quarter. Lloyd Advisory Services LLC. acquired a new position in Lam Research during the second quarter worth $532,000. Savant Capital LLC raised its holdings in Lam Research by 2.6% during the second quarter. Savant Capital LLC now owns 3,387 shares of the semiconductor company’s stock worth $3,606,000 after purchasing an additional 87 shares during the last quarter. Sustainable Insight Capital Management LLC boosted its position in Lam Research by 42.3% during the second quarter. Sustainable Insight Capital Management LLC now owns 14,065 shares of the semiconductor company’s stock worth $14,977,000 after purchasing an additional 4,184 shares in the last quarter. Finally, New York Life Investment Management LLC grew its holdings in Lam Research by 0.5% in the second quarter. New York Life Investment Management LLC now owns 19,948 shares of the semiconductor company’s stock valued at $21,242,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LRCX. StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. TD Cowen lifted their target price on shares of Lam Research from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Cantor Fitzgerald reiterated a “neutral” rating and issued a $1,200.00 price target on shares of Lam Research in a research report on Thursday, August 1st. B. Riley lifted their price objective on Lam Research from $1,130.00 to $1,325.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $1,130.00 target price on shares of Lam Research in a report on Thursday, August 1st. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,006.10.

Lam Research Price Performance

Lam Research stock opened at $733.83 on Friday. 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 company has a market cap of $95.94 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 1.58 and a beta of 1.48. Lam Research Co. has a 1 year low of $574.42 and a 1 year high of $1,130.00. The firm has a 50 day moving average price of $901.71 and a 200 day moving average price of $938.10.

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

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $8.14 EPS for the quarter, topping 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 the consensus estimate of $3.82 billion. During the same period in the prior year, the firm posted $5.98 EPS. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. Sell-side analysts predict that Lam Research Co. will post 35.2 earnings per share for the current year.

Lam Research Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be paid a $2.30 dividend. This is a positive change from Lam Research’s previous quarterly dividend of $2.00. This represents a $9.20 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Tuesday, September 17th. Lam Research’s payout ratio is currently 33.84%.

Lam Research declared that its board has approved a share repurchase program on Tuesday, May 21st that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 8.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other Lam Research news, SVP Neil J. Fernandes sold 1,620 shares of Lam Research stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $1,056.99, for a total transaction of $1,712,323.80. Following the transaction, the senior vice president now directly owns 5,237 shares of the company’s stock, valued at $5,535,456.63. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CAO Christina Correia sold 647 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total value of $687,282.22. Following the completion of the sale, the chief accounting officer now owns 4,914 shares in the company, valued at $5,219,945.64. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 value of $1,712,323.80. Following the transaction, the senior vice president now directly 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 quarter, insiders sold 16,326 shares of company stock valued at $17,383,715. 0.32% of the stock is currently owned by corporate insiders.

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.