Lam Research Co. (NASDAQ:LRCX) Shares Sold by Commonwealth Retirement Investments LLC

Commonwealth Retirement Investments LLC cut its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 4.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,034 shares of the semiconductor company’s stock after selling 95 shares during the period. Commonwealth Retirement Investments LLC’s holdings in Lam Research were worth $2,166,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in LRCX. Norges Bank acquired a new position in Lam Research during the 4th quarter worth about $1,414,111,000. Swedbank AB acquired a new position in Lam Research in the 1st quarter valued at about $192,668,000. Van ECK Associates Corp increased its stake in Lam Research by 24.6% during the first quarter. Van ECK Associates Corp now owns 968,115 shares of the semiconductor company’s stock worth $940,592,000 after purchasing an additional 191,230 shares during the period. Vanguard Group Inc. lifted its position in shares of Lam Research by 1.2% during the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock worth $11,519,576,000 after purchasing an additional 144,914 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Lam Research by 5.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock valued at $2,875,023,000 after purchasing an additional 142,903 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lam Research

In other news, SVP Neil J. Fernandes sold 4,409 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the completion of the sale, the senior vice president now owns 6,857 shares in the company, valued at $7,239,346.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Neil J. Fernandes sold 4,409 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total value of $4,654,845.84. Following the transaction, the senior vice president now owns 6,857 shares of the company’s stock, valued at $7,239,346.32. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Timothy Archer sold 9,650 shares of the stock in a transaction on 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. Over the last three months, insiders have sold 16,326 shares of company stock worth $17,383,715. 0.32% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company reduced 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 report on Thursday, August 1st. Cantor Fitzgerald reiterated a “neutral” rating and issued a $1,200.00 price objective on shares of Lam Research in a research note on Thursday, August 1st. Barclays lifted their target price on Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a report on Wednesday, June 5th. Citigroup cut their price target on Lam Research from $1,025.00 to $990.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Finally, StockNews.com cut Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,006.10.

Lam Research Stock Down 2.9 %

Lam Research stock opened at $733.83 on Friday. The company has a market capitalization of $95.94 billion, a P/E ratio of 26.99, a PEG ratio of 1.58 and a beta of 1.48. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. Lam Research Co. has a fifty-two week low of $574.42 and a fifty-two week high of $1,130.00. The stock has a 50-day simple moving average of $901.71 and a 200-day simple moving average of $938.10.

Lam Research shares are 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 issued to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share for the quarter, beating the consensus estimate of $7.58 by $0.56. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The company’s revenue was up 20.7% compared to the same quarter last year. During the same period in the prior year, the company earned $5.98 earnings per share. Equities research analysts expect that Lam Research Co. will post 35.2 earnings per share for the current year.

Lam Research announced that its Board of Directors has approved a share buyback plan on Tuesday, May 21st that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to reacquire up to 8.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership 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. Shareholders of record on Tuesday, September 17th will be given a dividend of $2.30 per share. This is an increase 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 is Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is presently 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.