Dana Investment Advisors Inc. Sells 137 Shares of Lam Research Co. (NASDAQ:LRCX)

Dana Investment Advisors Inc. lessened its holdings in Lam Research Co. (NASDAQ:LRCX) by 3.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,943 shares of the semiconductor company’s stock after selling 137 shares during the period. Dana Investment Advisors Inc.’s holdings in Lam Research were worth $4,199,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of LRCX. Scotia Capital Inc. lifted its holdings in shares of Lam Research by 1.8% in the 4th quarter. Scotia Capital Inc. now owns 1,465 shares of the semiconductor company’s stock valued at $1,147,000 after acquiring an additional 26 shares during the last quarter. Rathbones Group PLC purchased a new position in shares of Lam Research in the 4th quarter worth approximately $229,000. The Manufacturers Life Insurance Company increased its position in shares of Lam Research by 1.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 115,559 shares of the semiconductor company’s stock valued at $90,513,000 after purchasing an additional 2,011 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in shares of Lam Research by 1.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,960 shares of the semiconductor company’s stock valued at $3,101,000 after purchasing an additional 55 shares during the last quarter. Finally, Lake Street Advisors Group LLC bought a new stake in Lam Research in the fourth quarter worth $833,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LRCX shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Lam Research from $1,100.00 to $950.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Citigroup cut their price target on shares of Lam Research from $990.00 to $893.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Mizuho decreased their price objective on shares of Lam Research from $1,050.00 to $950.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. B. Riley upped their target price on 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. Finally, Raymond James increased 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. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and an average price target of $1,002.32.

Lam Research Stock Down 2.3 %

LRCX stock opened at $797.38 on Wednesday. The firm has a 50 day moving average of $811.37 and a 200 day moving average of $918.60. The stock has a market capitalization of $104.25 billion, a PE ratio of 29.33, a price-to-earnings-growth ratio of 1.51 and a beta of 1.48. Lam Research Co. has a 52 week low of $574.42 and a 52 week 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.

Lam Research’s stock is going to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly created shares will be payable to shareholders after the market closes 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. The firm had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The company’s revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.98 earnings per share. Sell-side analysts forecast that Lam Research Co. will post 35.2 earnings per share for the current year.

Lam Research Increases Dividend

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

Insider Activity at Lam Research

In related news, SVP Neil J. Fernandes sold 1,620 shares of the stock in a transaction 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 sale, the senior vice president now directly owns 5,237 shares of the company’s stock, valued at $5,535,456.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.32% of the company’s stock.

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.