Symmetry Investments LP Invests $3.23 Million in Lam Research Co. (NASDAQ:LRCX)

Symmetry Investments LP bought a new stake in shares of Lam Research Co. (NASDAQ:LRCX) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 3,032 shares of the semiconductor company’s stock, valued at approximately $3,229,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Cypress Capital Group raised its stake in Lam Research by 23.1% during the second quarter. Cypress Capital Group now owns 3,528 shares of the semiconductor company’s stock worth $3,757,000 after acquiring an additional 661 shares in the last quarter. Meeder Advisory Services Inc. increased its stake in shares of Lam Research by 29.4% in the 2nd quarter. Meeder Advisory Services Inc. now owns 3,022 shares of the semiconductor company’s stock valued at $3,218,000 after buying an additional 686 shares during the period. Brookstone Capital Management raised its holdings in Lam Research by 142.6% during the 2nd quarter. Brookstone Capital Management now owns 1,601 shares of the semiconductor company’s stock worth $1,705,000 after purchasing an additional 941 shares during the last quarter. FineMark National Bank & Trust lifted its position in Lam Research by 14.5% during the 2nd quarter. FineMark National Bank & Trust now owns 474 shares of the semiconductor company’s stock valued at $505,000 after purchasing an additional 60 shares during the period. Finally, Foundations Investment Advisors LLC grew its position in shares of Lam Research by 534.3% during the 2nd quarter. Foundations Investment Advisors LLC now owns 5,569 shares of the semiconductor company’s stock worth $5,930,000 after buying an additional 4,691 shares during the period. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on LRCX shares. Morgan Stanley reduced their price objective on shares of Lam Research from $929.00 to $774.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Wells Fargo & Company cut their target price on Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. Barclays boosted their target price 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. B. Riley lifted their price objective on shares of Lam Research from $1,130.00 to $1,325.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Finally, Raymond James upped their target price on shares of Lam Research from $950.00 to $1,060.00 and gave the company an “outperform” rating in a research note on Friday, June 7th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,012.84.

Insider Activity

In other Lam Research news, CEO Timothy Archer sold 9,650 shares of the company’s 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 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 SEC, which is accessible through this link. In other news, CEO Timothy Archer sold 9,650 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $1,070.39, for a total transaction of $10,329,263.50. Following 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 transaction 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 approximately $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 valued at $17,383,715. 0.32% of the stock is owned by insiders.

Lam Research Stock Performance

NASDAQ LRCX opened at $773.19 on Friday. The firm’s fifty day moving average price is $836.41 and its two-hundred day moving average price is $925.79. Lam Research Co. has a 1 year low of $574.42 and a 1 year high of $1,130.00. The firm has a market capitalization of $101.09 billion, a P/E ratio of 28.44, a price-to-earnings-growth ratio of 1.48 and a beta of 1.48. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52.

Lam Research shares are scheduled to split 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 market closes on Wednesday, October 2nd.

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

Lam Research Increases Dividend

The business also recently disclosed 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. The ex-dividend date 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 1.19%. Lam Research’s dividend payout ratio (DPR) is 33.84%.

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.