MBB Public Markets I LLC Takes $9.79 Million Position in Lam Research Co. (NASDAQ:LRCX)

MBB Public Markets I LLC acquired a new position in Lam Research Co. (NASDAQ:LRCX) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 9,192 shares of the semiconductor company’s stock, valued at approximately $9,788,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LRCX. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Lam Research in the second quarter worth approximately $32,000. RFP Financial Group LLC increased its holdings 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. Raleigh Capital Management Inc. increased its holdings 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 in the last quarter. Hobbs Group Advisors LLC bought a new stake in Lam Research in the second quarter worth approximately $40,000. Finally, Country Trust Bank bought a new stake in Lam Research in the second quarter worth approximately $43,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Neil J. Fernandes sold 1,620 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $1,056.99, for a total value of $1,712,323.80. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Lam Research news, SVP Neil J. Fernandes sold 1,620 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $1,056.99, for a total value of $1,712,323.80. Following the completion of the sale, the senior vice president now directly owns 5,237 shares in the company, valued at approximately $5,535,456.63. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Christina Correia sold 647 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $1,062.26, for a total value of $687,282.22. Following the completion of the sale, the chief accounting officer now owns 4,914 shares of the company’s stock, valued at $5,219,945.64. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

Lam Research Price Performance

LRCX opened at $847.50 on Friday. The business’s 50-day moving average is $821.73 and its two-hundred day moving average is $921.66. Lam Research Co. has a 1 year low of $574.42 and a 1 year 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 capitalization of $110.80 billion, a PE ratio of 31.17, a price-to-earnings-growth ratio of 1.51 and a beta of 1.48.

Lam Research shares are scheduled to split on the morning of 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 released its 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 firm had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the previous year, the company posted $5.98 earnings per share. The company’s revenue was up 20.7% compared to the same quarter last year. Research analysts anticipate that Lam Research Co. will post 35.2 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be given a $2.30 dividend. The ex-dividend date is Tuesday, September 17th. This is a boost 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 1.09%. Lam Research’s payout ratio is 33.84%.

Analysts Set New Price Targets

LRCX has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft cut their price target 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 $990.00 to $893.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Morgan Stanley decreased their target price on Lam Research from $929.00 to $774.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 17th. Barclays raised 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. 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 fourteen have issued a buy rating to the stock. According to MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and a consensus target price of $1,012.84.

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.