Lam Research Co. (NASDAQ:LRCX) Shares Bought by PFG Advisors

PFG Advisors raised its stake in Lam Research Co. (NASDAQ:LRCXGet Rating) by 2.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,818 shares of the semiconductor company’s stock after purchasing an additional 78 shares during the period. PFG Advisors’ holdings in Lam Research were worth $1,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of LRCX. IndexIQ Advisors LLC raised its holdings in shares of Lam Research by 2.3% in the first quarter. IndexIQ Advisors LLC now owns 2,405 shares of the semiconductor company’s stock valued at $1,293,000 after buying an additional 55 shares during the last quarter. Waldron Private Wealth LLC raised its holdings in shares of Lam Research by 6.7% in the first quarter. Waldron Private Wealth LLC now owns 624 shares of the semiconductor company’s stock valued at $336,000 after buying an additional 39 shares during the last quarter. AlphaCrest Capital Management LLC raised its holdings in shares of Lam Research by 47.3% in the first quarter. AlphaCrest Capital Management LLC now owns 3,272 shares of the semiconductor company’s stock valued at $1,759,000 after buying an additional 1,051 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Lam Research by 6.0% in the first quarter. Sequoia Financial Advisors LLC now owns 3,956 shares of the semiconductor company’s stock valued at $2,126,000 after buying an additional 224 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund raised its holdings in shares of Lam Research by 7.5% in the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 4,118 shares of the semiconductor company’s stock valued at $2,214,000 after buying an additional 287 shares during the last quarter. Institutional investors and hedge funds own 80.09% of the company’s stock.

Lam Research Stock Down 1.2 %

Shares of NASDAQ LRCX opened at $398.65 on Thursday. Lam Research Co. has a 1 year low of $375.87 and a 1 year high of $731.85. The firm’s 50 day moving average price is $461.25 and its 200 day moving average price is $472.95. The firm has a market cap of $54.61 billion, a P/E ratio of 12.17, a price-to-earnings-growth ratio of 0.92 and a beta of 1.36. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.82 and a current ratio of 2.69.

Lam Research (NASDAQ:LRCXGet Rating) last announced its earnings results on Wednesday, July 27th. The semiconductor company reported $8.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.30 by $1.53. Lam Research had a net margin of 26.73% and a return on equity of 75.71%. The firm had revenue of $4.64 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter last year, the business earned $8.09 earnings per share. Lam Research’s revenue was up 11.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lam Research Co. will post 37.31 earnings per share for the current year.

Lam Research Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Wednesday, September 14th will be given a dividend of $1.725 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $6.90 dividend on an annualized basis and a yield of 1.73%. This is a positive change from Lam Research’s previous quarterly dividend of $1.50. Lam Research’s dividend payout ratio (DPR) is 21.07%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on LRCX shares. Citigroup cut their price target on shares of Lam Research from $720.00 to $700.00 in a report on Thursday, July 28th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Lam Research from $560.00 to $480.00 in a report on Monday, July 18th. B. Riley cut shares of Lam Research from a “buy” rating to a “neutral” rating and cut their price target for the stock from $625.00 to $525.00 in a report on Wednesday, June 15th. UBS Group increased their price target on shares of Lam Research from $510.00 to $530.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Finally, Cowen dropped their target price on shares of Lam Research from $800.00 to $620.00 in a report on Thursday, July 28th. Ten investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $610.30.

Lam Research Company Profile

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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.

See Also

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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