Lam Research Co. (NASDAQ:LRCX) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP grew its position in Lam Research Co. (NASDAQ:LRCX) by 4.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 614,205 shares of the semiconductor company’s stock after buying an additional 25,362 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Lam Research were worth $654,009,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CarsonAllaria Wealth Management Ltd. acquired a new position in Lam Research in the 2nd quarter valued at about $32,000. RFP Financial Group LLC grew its holdings in shares of Lam Research by 52.2% in 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 in the last quarter. DSM Capital Partners LLC purchased a new stake in Lam Research during the 4th quarter worth approximately $28,000. Hobbs Group Advisors LLC purchased a new position in Lam Research in the 2nd quarter valued at approximately $40,000. Finally, Country Trust Bank acquired a new position in shares of Lam Research in the second quarter worth $43,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LRCX. UBS Group lowered their price objective on Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft dropped their target price on Lam Research from $1,100.00 to $950.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Citigroup decreased their price target on Lam Research from $1,025.00 to $990.00 and set a “buy” rating for the company in a report on Monday, August 5th. B. Riley increased their price objective on Lam Research from $1,130.00 to $1,325.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Finally, Needham & Company LLC restated a “buy” rating and issued a $1,130.00 price objective 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 fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $1,015.63.

Lam Research Stock Up 2.9 %

Shares of NASDAQ LRCX opened at $769.72 on Monday. The firm’s 50 day moving average price is $868.98 and its 200 day moving average price is $932.18. 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 firm has a market cap of $100.63 billion, a P/E ratio of 28.31, a price-to-earnings-growth ratio of 1.48 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.

Shares of Lam Research are going 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 issued to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share for the quarter, beating the consensus estimate of $7.58 by $0.56. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. 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 earned $5.98 earnings per share. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lam Research Co. will post 35.2 earnings per share for the current year.

Lam Research Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be paid 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 yield of 1.20%. The ex-dividend date is Tuesday, September 17th. Lam Research’s payout ratio is presently 33.84%.

Lam Research declared that its board has authorized a stock repurchase plan on Tuesday, May 21st that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 8.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other Lam Research news, CEO Timothy Archer sold 9,650 shares of the business’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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Neil J. Fernandes sold 4,409 shares of Lam Research stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 6,857 shares of the company’s stock, valued at $7,239,346.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy Archer sold 9,650 shares of the company’s 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 transaction of $10,329,263.50. Following the completion of the sale, the chief executive officer now owns 84,639 shares of the company’s stock, valued at approximately $90,596,739.21. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,326 shares of company stock valued at $17,383,715. 0.32% of the stock is currently owned by insiders.

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.