Intelligence Driven Advisers LLC Makes New Investment in Lam Research Co. (NASDAQ:LRCX)

Intelligence Driven Advisers LLC acquired a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 198 shares of the semiconductor company’s stock, valued at approximately $211,000.

Several other institutional investors have also added to or reduced their stakes in LRCX. Vanguard Group Inc. raised its holdings in shares of Lam Research by 1.2% in the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after purchasing an additional 144,914 shares during the last quarter. Fisher Asset Management LLC grew its position in Lam Research by 3.0% in the fourth quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock valued at $2,329,037,000 after purchasing an additional 86,721 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Lam Research by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock valued at $2,875,023,000 after buying an additional 142,903 shares during the last quarter. Norges Bank bought a new stake in Lam Research during the 4th quarter worth about $1,414,111,000. Finally, Van ECK Associates Corp boosted its stake in shares of Lam Research by 11.1% during the 2nd quarter. Van ECK Associates Corp now owns 1,075,893 shares of the semiconductor company’s stock worth $1,145,664,000 after buying an additional 107,778 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Lam Research Stock Performance

LRCX traded down $22.09 during trading on Friday, hitting $733.83. The stock had a trading volume of 1,552,952 shares, compared to its average volume of 1,077,419. The company has a 50 day moving average price of $901.71 and a 200-day moving average price of $938.10. The firm has a market cap of $95.94 billion, a price-to-earnings ratio of 26.99, a P/E/G ratio of 1.58 and a beta of 1.48. Lam Research Co. has a one year low of $574.42 and a one year high of $1,130.00. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00.

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

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

Lam Research declared that its board has approved a share repurchase program on Tuesday, May 21st that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to buy up to 8.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Lam Research Increases Dividend

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

Insider Activity at Lam Research

In other Lam Research news, CEO Timothy Archer sold 9,650 shares of Lam Research 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 completion of the transaction, the chief executive officer now directly owns 84,639 shares of the company’s stock, valued at approximately $90,596,739.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Lam Research news, CEO Timothy Archer sold 9,650 shares of Lam Research 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 completion of the transaction, the chief executive officer now directly owns 84,639 shares of the company’s stock, valued at approximately $90,596,739.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Neil J. Fernandes sold 4,409 shares of Lam Research stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total value of $4,654,845.84. Following the completion of the transaction, the senior vice president now directly owns 6,857 shares of the company’s stock, valued at $7,239,346.32. The disclosure for this sale can be found here. Insiders sold 16,326 shares of company stock worth $17,383,715 in the last ninety days. 0.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on LRCX shares. B. Riley increased their price target on Lam Research from $1,130.00 to $1,325.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. TD Cowen boosted their price target on 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 reaffirmed a “neutral” rating and set a $1,200.00 price target on shares of Lam Research in a research report on Thursday, August 1st. Jefferies Financial Group began coverage on Lam Research in a research report on Monday, May 13th. They set a “buy” rating and a $1,100.00 price target on the stock. Finally, Barclays boosted their price target on Lam Research from $865.00 to $900.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 5th. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.