Certuity LLC Grows Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Certuity LLC raised its position in Lam Research Co. (NASDAQ:LRCX) by 38.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,565 shares of the semiconductor company’s stock after purchasing an additional 431 shares during the period. Certuity LLC’s holdings in Lam Research were worth $1,666,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in LRCX. Fortitude Family Office LLC boosted its stake in shares of Lam Research by 16.7% during the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock worth $67,000 after purchasing an additional 9 shares during the last quarter. Thomasville National Bank boosted its position in Lam Research by 1.5% during the 2nd quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock worth $865,000 after purchasing an additional 12 shares during the period. Ignite Planners LLC grew its stake in shares of Lam Research by 2.8% in the second quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock valued at $484,000 after buying an additional 12 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its position in Lam Research by 3.7% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock valued at $357,000 after acquiring an additional 12 shares in the last quarter. Finally, RFP Financial Group LLC increased its stake in Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after buying an additional 12 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Lam Research

In related news, CEO Timothy Archer sold 9,650 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $1,070.39, for a total value of $10,329,263.50. Following the transaction, the chief executive officer now directly owns 84,639 shares in the company, valued at approximately $90,596,739.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related 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 transaction, the chief accounting officer now directly owns 4,914 shares in the company, valued at $5,219,945.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy Archer sold 9,650 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were 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 owns 84,639 shares in the company, valued at $90,596,739.21. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,326 shares of company stock worth $17,383,715. 0.32% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on LRCX shares. B. Riley lifted their price objective on Lam Research from $1,130.00 to $1,325.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Deutsche Bank Aktiengesellschaft dropped 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 note on Thursday, August 1st. TD Cowen increased their target price on 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. Needham & Company LLC reaffirmed a “buy” rating and set a $1,130.00 price target on shares of Lam Research in a report on Thursday, August 1st. Finally, Citigroup cut their price objective on shares of Lam Research from $1,025.00 to $990.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,006.10.

Lam Research Price Performance

NASDAQ LRCX opened at $733.83 on Friday. 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 company has a market cap of $95.94 billion, a PE ratio of 26.99, a PEG ratio of 1.58 and a beta of 1.48. Lam Research Co. has a 1 year low of $574.42 and a 1 year high of $1,130.00. The stock’s 50-day moving average price is $901.71 and its two-hundred day moving average price is $938.36.

Lam Research’s stock is set to split before the market opens on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly issued shares will be payable to shareholders after the market closes on Wednesday, October 2nd.

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

Lam Research announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 21st that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to repurchase up to 8.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Lam Research Increases Dividend

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

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.