Lombard Odier Asset Management Europe Ltd Invests $3.65 Million in Lam Research Co. (NASDAQ:LRCX)

Lombard Odier Asset Management Europe Ltd bought a new stake in Lam Research Co. (NASDAQ:LRCX) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,424 shares of the semiconductor company’s stock, valued at approximately $3,646,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Lam Research during the 2nd quarter worth about $32,000. RFP Financial Group LLC raised its position in Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 12 shares in the last quarter. DSM Capital Partners LLC bought a new position in Lam Research during the fourth quarter worth about $28,000. Hobbs Group Advisors LLC acquired a new stake in Lam Research during the second quarter valued at approximately $40,000. Finally, Country Trust Bank bought a new stake in shares of Lam Research in the 2nd quarter valued at approximately $43,000. 84.61% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Neil J. Fernandes sold 4,409 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total value of $4,654,845.84. Following the completion of the sale, the senior vice president now directly owns 6,857 shares of the company’s stock, valued at approximately $7,239,346.32. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Lam Research news, SVP Neil J. Fernandes sold 1,620 shares of Lam Research stock in a transaction dated 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 transaction, the senior vice president now directly owns 5,237 shares in the company, valued at $5,535,456.63. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Neil J. Fernandes sold 4,409 shares of the stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total value of $4,654,845.84. Following the completion of the sale, the senior vice president now owns 6,857 shares of the company’s stock, valued at $7,239,346.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,326 shares of company stock worth $17,383,715. Insiders own 0.32% of the company’s stock.

Lam Research Stock Performance

Lam Research stock opened at $773.19 on Monday. Lam Research Co. has a 1 year low of $574.42 and a 1 year high of $1,130.00. The company’s 50-day moving average is $836.41 and its two-hundred day moving average is $925.14. 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 company has a market cap of $101.09 billion, a PE ratio of 28.44, a PEG ratio of 1.48 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 created shares will be distributed to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.58 by $0.56. The firm had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period last year, the firm earned $5.98 earnings per share. Equities 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 a positive change 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 yield of 1.19%. Lam Research’s dividend payout ratio is presently 33.84%.

Analyst Ratings Changes

Several equities analysts recently commented on LRCX shares. Citigroup cut their target price on Lam Research from $990.00 to $893.00 and set a “buy” rating for the company in a research report on Monday, September 16th. StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Mizuho dropped their target price on shares of Lam Research from $1,050.00 to $950.00 and set an “outperform” rating for the company in a research report on Friday. TD Cowen upped their price objective on shares of Lam Research from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, UBS Group cut their target price on shares of Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and an average target price of $1,012.84.

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.