Lam Research Co. (NASDAQ:LRCX) Shares Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC grew its position in shares of Lam Research Co. (NASDAQ:LRCX) by 7.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,323 shares of the semiconductor company’s stock after purchasing an additional 87 shares during the period. International Assets Investment Management LLC’s holdings in Lam Research were worth $1,409,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC lifted its stake in Lam Research by 1.0% during the fourth quarter. Checchi Capital Advisers LLC now owns 1,781 shares of the semiconductor company’s stock worth $1,395,000 after purchasing an additional 18 shares in the last quarter. Jump Financial LLC increased its position in shares of Lam Research by 108.1% during the fourth quarter. Jump Financial LLC now owns 2,283 shares of the semiconductor company’s stock worth $1,788,000 after acquiring an additional 1,186 shares during the period. Cypress Capital Group increased its position in shares of Lam Research by 23.1% during the second quarter. Cypress Capital Group now owns 3,528 shares of the semiconductor company’s stock worth $3,757,000 after acquiring an additional 661 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Lam Research by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 777,722 shares of the semiconductor company’s stock worth $609,159,000 after acquiring an additional 14,902 shares during the period. Finally, National Pension Service increased its position in shares of Lam Research by 2.4% during the fourth quarter. National Pension Service now owns 258,699 shares of the semiconductor company’s stock worth $202,629,000 after acquiring an additional 6,151 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Lam Research

In related news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $1,062.26, for a total value of $687,282.22. Following the completion of the sale, the chief accounting officer now owns 4,914 shares in the company, valued at $5,219,945.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Timothy Archer sold 9,650 shares of Lam Research 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 transaction of $10,329,263.50. Following the completion of the sale, 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 legal filing with the SEC, which is available through this hyperlink. Also, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the sale, the chief accounting officer now owns 4,914 shares of the company’s stock, valued at $5,219,945.64. The disclosure for this sale can be found here. Insiders sold a total of 16,326 shares of company stock worth $17,383,715 over the last 90 days. Company insiders own 0.32% of the company’s stock.

Lam Research Stock Performance

Shares of LRCX stock opened at $821.01 on Friday. The stock’s 50-day moving average is $934.56 and its two-hundred day moving average is $943.79. The firm has a market cap of $107.34 billion, a price-to-earnings ratio of 30.20, a PEG ratio of 2.41 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 company has a debt-to-equity ratio of 0.52, a quick ratio of 1.84 and a current ratio of 2.97.

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

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share for the quarter, topping the consensus estimate of $7.58 by $0.56. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the prior year, the firm earned $5.98 earnings per share. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. Analysts predict that Lam Research Co. will post 35.09 earnings per share for the current year.

Lam Research announced that its board has initiated a share buyback plan on Tuesday, May 21st that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes 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 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. Investors of record on Tuesday, September 17th will be given a $2.30 dividend. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $9.20 dividend on an annualized basis and a yield of 1.12%. This is an increase from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s dividend payout ratio (DPR) is presently 29.42%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Wells Fargo & Company cut their price objective on 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. Citigroup cut their price objective on Lam Research from $1,025.00 to $990.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. TD Cowen upped their price objective 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. Cantor Fitzgerald reissued a “neutral” rating and issued a $1,200.00 target price on shares of Lam Research in a report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Lam Research from $1,100.00 to $950.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,006.10.

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.