198 Shares in Lam Research Co. (NASDAQ:LRCX) Acquired by Intelligence Driven Advisers LLC

Intelligence Driven Advisers LLC bought a new stake in Lam Research Co. (NASDAQ:LRCX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 198 shares of the semiconductor company’s stock, valued at approximately $211,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC lifted its stake in Lam Research by 1.0% in the fourth quarter. Checchi Capital Advisers LLC now owns 1,781 shares of the semiconductor company’s stock valued at $1,395,000 after acquiring an additional 18 shares during the last quarter. Jump Financial LLC raised its position in shares of Lam Research by 108.1% in the fourth quarter. Jump Financial LLC now owns 2,283 shares of the semiconductor company’s stock valued at $1,788,000 after purchasing an additional 1,186 shares during the period. Cypress Capital Group raised its position in shares of Lam Research by 23.1% in the second quarter. Cypress Capital Group now owns 3,528 shares of the semiconductor company’s stock valued at $3,757,000 after purchasing an additional 661 shares during the period. Principal Securities Inc. bought a new position in shares of Lam Research in the fourth quarter valued at approximately $1,113,000. Finally, Brookstone Capital Management raised its position in shares of Lam Research by 142.6% in the second quarter. Brookstone Capital Management now owns 1,601 shares of the semiconductor company’s stock valued at $1,705,000 after purchasing an additional 941 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Lam Research news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the completion of the sale, the chief accounting officer now directly owns 4,914 shares of the company’s stock, valued at approximately $5,219,945.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Lam Research news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the completion of the sale, the chief accounting officer now directly owns 4,914 shares of the company’s stock, valued at approximately $5,219,945.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy Archer sold 9,650 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $1,070.39, for a total value of $10,329,263.50. Following the sale, the chief executive officer now directly owns 84,639 shares of the company’s stock, valued at $90,596,739.21. The disclosure for this sale can be found here. In the last three months, insiders sold 16,326 shares of company stock valued at $17,383,715. 0.32% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on LRCX shares. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Raymond James lifted their price target on shares of Lam Research from $950.00 to $1,060.00 and gave the company an “outperform” rating in a research report on Friday, June 7th. TD Cowen boosted their target price on shares of Lam Research from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Jefferies Financial Group initiated coverage on shares of Lam Research in a research report on Monday, May 13th. They set a “buy” rating and a $1,100.00 target price on the stock. Finally, Wells Fargo & Company dropped their target price on shares of Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,006.10.

Lam Research Price Performance

Shares of NASDAQ:LRCX traded down $22.09 on Friday, hitting $733.83. The stock had a trading volume of 1,552,952 shares, compared to its average volume of 1,077,419. Lam Research Co. has a twelve month low of $574.42 and a twelve month high of $1,130.00. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. The firm’s 50 day moving average price is $901.71 and its 200-day moving average price is $938.10. The company has a market capitalization of $95.94 billion, a price-to-earnings ratio of 26.99, a price-to-earnings-growth ratio of 1.58 and a beta of 1.48.

Lam Research shares are set to split on the morning of Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be payable to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.58 by $0.56. The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The firm’s quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.98 EPS. On average, equities research analysts predict that Lam Research Co. will post 35.2 earnings per share for the current year.

Lam Research declared that its board has initiated a share repurchase plan on Tuesday, May 21st that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to purchase up to 8.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Lam Research Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be issued a dividend of $2.30 per share. This is a boost from Lam Research’s previous quarterly dividend of $2.00. This represents a $9.20 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Tuesday, September 17th. Lam Research’s payout ratio is currently 33.84%.

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.