Royal Fund Management LLC Boosts Stock Position in Lam Research Co. (NASDAQ:LRCX)

Royal Fund Management LLC increased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 4.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,663 shares of the semiconductor company’s stock after purchasing an additional 261 shares during the quarter. Royal Fund Management LLC’s holdings in Lam Research were worth $3,641,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of LRCX. Moneta Group Investment Advisors LLC grew its position in Lam Research by 117,180.9% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 32,822,222 shares of the semiconductor company’s stock worth $13,795,180,000 after purchasing an additional 32,794,236 shares during the period. State Street Corp boosted its stake in shares of Lam Research by 1.7% in the first quarter. State Street Corp now owns 5,697,200 shares of the semiconductor company’s stock worth $3,029,550,000 after buying an additional 92,606 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Lam Research by 12.7% during the first quarter. Ameriprise Financial Inc. now owns 5,615,253 shares of the semiconductor company’s stock worth $2,976,863,000 after acquiring an additional 632,690 shares during the period. FMR LLC raised its position in Lam Research by 0.7% during the first quarter. FMR LLC now owns 4,681,662 shares of the semiconductor company’s stock valued at $2,481,843,000 after acquiring an additional 32,108 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Lam Research by 15.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,918,071 shares of the semiconductor company’s stock valued at $2,077,049,000 after acquiring an additional 528,586 shares during the period. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Insider Buying and Selling at Lam Research

In related news, CFO Douglas R. Bettinger sold 1,894 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $705.86, for a total transaction of $1,336,898.84. Following the completion of the sale, the chief financial officer now directly owns 96,713 shares of the company’s stock, valued at approximately $68,265,838.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Lam Research news, CFO Douglas R. Bettinger sold 1,894 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $705.86, for a total transaction of $1,336,898.84. Following the completion of the transaction, the chief financial officer now owns 96,713 shares of the company’s stock, valued at $68,265,838.18. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Vahid Vahedi sold 13,756 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $717.46, for a total transaction of $9,869,379.76. Following the completion of the sale, the senior vice president now directly owns 26,483 shares in the company, valued at $19,000,493.18. The disclosure for this sale can be found here. Insiders have sold 18,159 shares of company stock worth $12,926,580 over the last quarter. 0.35% of the stock is currently owned by company insiders.

Analyst Ratings Changes

LRCX has been the subject of several recent research reports. B. Riley lifted their target price on shares of Lam Research from $500.00 to $650.00 in a report on Monday, July 17th. Stifel Nicolaus upped their price objective on shares of Lam Research from $725.00 to $750.00 and gave the stock a “buy” rating in a research report on Monday, August 28th. Barclays raised their target price on Lam Research from $575.00 to $600.00 and gave the company an “equal weight” rating in a research report on Thursday, July 27th. Susquehanna upped their price target on Lam Research from $540.00 to $615.00 in a report on Thursday, July 27th. Finally, StockNews.com began coverage on Lam Research in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $583.50.

Lam Research Stock Up 2.0 %

Shares of LRCX opened at $635.65 on Tuesday. The stock has a fifty day simple moving average of $667.37 and a two-hundred day simple moving average of $593.10. The company has a quick ratio of 2.01, a current ratio of 3.16 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $84.23 billion, a PE ratio of 19.18, a price-to-earnings-growth ratio of 3.75 and a beta of 1.49. Lam Research Co. has a 52-week low of $299.59 and a 52-week high of $726.53.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, July 26th. The semiconductor company reported $5.98 EPS for the quarter, topping analysts’ consensus estimates of $5.03 by $0.95. Lam Research had a net margin of 25.88% and a return on equity of 57.40%. The company had revenue of $3.21 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the previous year, the firm earned $8.83 earnings per share. Lam Research’s quarterly revenue was down 30.8% compared to the same quarter last year. As a group, equities analysts forecast that Lam Research Co. will post 26.82 EPS for the current year.

Lam Research Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be paid a dividend of $0.275 per share. The ex-dividend date is Tuesday, September 12th. This represents a $1.10 annualized dividend and a yield of 0.17%. Lam Research’s dividend payout ratio (DPR) is 24.14%.

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.