Bradley Foster & Sargent Inc. CT Purchases 248 Shares of Lam Research Co. (NASDAQ:LRCX)

Bradley Foster & Sargent Inc. CT boosted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 107.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 478 shares of the semiconductor company’s stock after acquiring an additional 248 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Lam Research were worth $509,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in LRCX. Mutual of America Capital Management LLC increased its stake in shares of Lam Research by 2.7% during the 2nd quarter. Mutual of America Capital Management LLC now owns 20,411 shares of the semiconductor company’s stock worth $21,735,000 after purchasing an additional 540 shares during the last quarter. L & S Advisors Inc increased its position in Lam Research by 14.7% during the second quarter. L & S Advisors Inc now owns 10,996 shares of the semiconductor company’s stock worth $11,709,000 after buying an additional 1,411 shares during the last quarter. Stock Yards Bank & Trust Co. raised its holdings in Lam Research by 8.6% during the second quarter. Stock Yards Bank & Trust Co. now owns 316 shares of the semiconductor company’s stock valued at $336,000 after buying an additional 25 shares in the last quarter. DHK Financial Advisors Inc. acquired a new stake in shares of Lam Research in the second quarter worth about $310,000. Finally, Moors & Cabot Inc. boosted its stake in shares of Lam Research by 4.0% during the 2nd quarter. Moors & Cabot Inc. now owns 2,492 shares of the semiconductor company’s stock worth $2,654,000 after acquiring an additional 95 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Trading Up 4.4 %

Shares of LRCX stock opened at $789.07 on Friday. The company has a market capitalization of $103.16 billion, a P/E ratio of 29.02, a P/E/G ratio of 1.48 and a beta of 1.48. Lam Research Co. has a 12-month low of $574.42 and a 12-month high of $1,130.00. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average price of $842.35 and a 200 day moving average price of $927.21.

Lam Research’s stock is going 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 issued to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $3.82 billion. During the same period in the prior year, the company earned $5.98 EPS. Lam Research’s revenue for the quarter was up 20.7% on a year-over-year basis. Research analysts forecast 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. Stockholders of record on Tuesday, September 17th will be paid a $2.30 dividend. The ex-dividend date is Tuesday, September 17th. This is a positive change from Lam Research’s previous quarterly dividend of $2.00. This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.17%. Lam Research’s dividend payout ratio (DPR) is 33.84%.

Insider Activity at Lam Research

In other Lam Research news, SVP Neil J. Fernandes sold 1,620 shares of the stock in a transaction dated 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 sale, the senior vice president now owns 5,237 shares of the company’s stock, valued at approximately $5,535,456.63. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Neil J. Fernandes sold 1,620 shares of the company’s 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 in the company, valued at $5,535,456.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy Archer sold 9,650 shares of the firm’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 directly 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. Insiders sold 16,326 shares of company stock valued at $17,383,715 over the last ninety days. 0.32% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on LRCX. Barclays increased their price target on Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a report on Wednesday, June 5th. B. Riley raised their target price on shares of Lam Research from $1,130.00 to $1,325.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Needham & Company LLC reissued a “buy” rating and set a $1,130.00 target price on shares of Lam Research in a research report on Thursday, August 1st. Morgan Stanley lowered their price target on Lam Research from $929.00 to $774.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, Wells Fargo & Company cut their price objective on Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and an average target price of $1,013.37.

About Lam Research

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.