Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Clearbridge Investments LLC

Clearbridge Investments LLC raised its stake in Lam Research Co. (NASDAQ:LRCX) by 1.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,051 shares of the semiconductor company’s stock after purchasing an additional 2,841 shares during the period. Clearbridge Investments LLC owned about 0.13% of Lam Research worth $185,338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. KPP Advisory Services LLC raised its holdings in Lam Research by 18.2% in the second quarter. KPP Advisory Services LLC now owns 1,001 shares of the semiconductor company’s stock valued at $1,066,000 after acquiring an additional 154 shares in the last quarter. New Century Financial Group LLC acquired a new stake in shares of Lam Research in the 2nd quarter valued at $359,000. Cetera Investment Advisers lifted its position in shares of Lam Research by 2.1% during the 2nd quarter. Cetera Investment Advisers now owns 28,382 shares of the semiconductor company’s stock worth $30,224,000 after purchasing an additional 585 shares during the last quarter. 3Chopt Investment Partners LLC acquired a new position in shares of Lam Research during the second quarter worth $1,105,000. Finally, Advisory Alpha LLC acquired a new position in shares of Lam Research during the second quarter worth $256,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Trading Down 2.3 %

Shares of LRCX stock opened at $797.38 on Wednesday. Lam Research Co. has a twelve month low of $574.42 and a twelve month high of $1,130.00. 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 business’s 50 day moving average is $811.37 and its two-hundred day moving average is $918.60. The company has a market capitalization of $104.25 billion, a P/E ratio of 29.33, a price-to-earnings-growth ratio of 1.51 and a beta of 1.48.

Lam Research’s stock is set to split 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 market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data 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 net margin of 25.68% and a return on equity of 48.71%. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the prior year, the firm earned $5.98 EPS. Lam Research’s quarterly revenue was up 20.7% on a year-over-year basis. Equities analysts forecast that Lam Research Co. will post 35.2 EPS for the current year.

Lam Research Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were given a dividend of $2.30 per share. This is a boost from Lam Research’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $9.20 annualized dividend and a yield of 1.15%. Lam Research’s payout ratio is presently 33.84%.

Insider Transactions at Lam Research

In related 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 transaction of $1,712,323.80. Following the transaction, the senior vice president now owns 5,237 shares of the company’s stock, valued at $5,535,456.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Raymond James lifted their price target on Lam Research from $950.00 to $1,060.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. Needham & Company LLC restated a “buy” rating and set a $1,130.00 target price on shares of Lam Research in a research note on Thursday, August 1st. Mizuho dropped their price target on shares of Lam Research from $1,050.00 to $950.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Morgan Stanley reduced their price objective on shares of 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. Finally, UBS Group dropped their target price on shares of Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.32.

Lam Research Company 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.