PFG Advisors Has $3.16 Million Stock Position in Lam Research Co. (NASDAQ:LRCX)

PFG Advisors cut its position in Lam Research Co. (NASDAQ:LRCX) by 7.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,966 shares of the semiconductor company’s stock after selling 241 shares during the quarter. PFG Advisors’ holdings in Lam Research were worth $3,158,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. DSM Capital Partners LLC bought a new stake in shares of Lam Research in the fourth quarter valued at about $28,000. CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Lam Research during the 2nd quarter worth approximately $32,000. RFP Financial Group LLC increased its position in shares of Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 12 shares during the period. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of Lam Research in the fourth quarter valued at $39,000. Finally, Raleigh Capital Management Inc. lifted its position in Lam Research by 78.6% in the fourth quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 22 shares during the period. Institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on LRCX shares. Wells Fargo & Company lowered 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 report on Thursday, August 1st. Needham & Company LLC reissued a “buy” rating and issued a $1,130.00 price target on shares of Lam Research in a research report on Thursday, August 1st. StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft lowered their price objective on 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. Finally, Raymond James raised their target price 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 investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,006.10.

Lam Research Stock Performance

Shares of Lam Research stock opened at $766.85 on Thursday. The firm has a 50 day simple moving average of $882.05 and a 200 day simple moving average of $934.57. Lam Research Co. has a fifty-two week low of $574.42 and a fifty-two week 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. The firm has a market cap of $100.26 billion, a P/E ratio of 28.20, a P/E/G ratio of 1.41 and a beta of 1.48.

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

Lam Research (NASDAQ:LRCX) last issued its 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 company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter last year, the firm earned $5.98 EPS. Sell-side analysts predict that Lam Research Co. will post 35.2 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be given a dividend of $2.30 per share. This is a boost from Lam Research’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $9.20 annualized dividend and a dividend yield of 1.20%. Lam Research’s payout ratio is presently 33.84%.

Lam Research announced that its Board of Directors has initiated a stock repurchase program on Tuesday, May 21st that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to purchase up to 8.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, SVP Neil J. Fernandes sold 1,620 shares of Lam Research stock in a transaction 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 directly owns 5,237 shares of the company’s stock, valued at $5,535,456.63. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Lam Research news, CEO Timothy Archer sold 9,650 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 84,639 shares in the company, valued at $90,596,739.21. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Neil J. Fernandes sold 1,620 shares of the business’s stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 5,237 shares of the company’s stock, valued at approximately $5,535,456.63. The disclosure for this sale can be found here. Insiders have sold a total of 16,326 shares of company stock valued at $17,383,715 in the last 90 days. 0.32% of the stock is owned by company 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.