Mn Services Vermogensbeheer B.V. Lowers Holdings in Lam Research Co. (NASDAQ:LRCX)

Mn Services Vermogensbeheer B.V. decreased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 2.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,084 shares of the semiconductor company’s stock after selling 1,200 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Lam Research were worth $55,462,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in LRCX. CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Lam Research in the second quarter worth $32,000. DSM Capital Partners LLC purchased a new stake in Lam Research during the fourth quarter valued at $28,000. Hobbs Group Advisors LLC purchased a new stake in Lam Research during the second quarter valued at $40,000. Partnership Wealth Management LLC bought a new stake in Lam Research during the fourth quarter valued at about $33,000. Finally, Country Trust Bank bought a new stake in Lam Research during the second quarter valued at about $43,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling

In related news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Lam Research news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction on 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 approximately $5,219,945.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy Archer sold 9,650 shares of the firm’s 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 transaction, 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 three months, insiders sold 16,326 shares of company stock valued at $17,383,715. Insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LRCX. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Barclays upped their price objective on Lam Research from $865.00 to $900.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 5th. Citigroup dropped their price objective on Lam Research from $1,025.00 to $990.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $1,200.00 price objective on shares of Lam Research in a research note on Thursday, August 1st. Finally, B. Riley upped their price objective on Lam Research from $1,130.00 to $1,325.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Lam Research has an average rating of “Moderate Buy” and a consensus price target of $1,006.10.

Lam Research Trading Up 1.4 %

Shares of NASDAQ:LRCX traded up $11.65 during trading on Friday, hitting $847.37. The company had a trading volume of 1,067,121 shares, compared to its average volume of 1,071,567. The stock has a market cap of $110.79 billion, a price-to-earnings ratio of 31.16, a price-to-earnings-growth ratio of 2.41 and a beta of 1.48. Lam Research Co. has a one year low of $574.42 and a one year high of $1,130.00. The company has a fifty day simple moving average of $955.97 and a two-hundred day simple moving average of $946.08. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 1.84.

Lam Research shares are scheduled to split before the market opens on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be distributed 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 analysts’ consensus estimates of $7.58 by $0.56. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The firm had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.82 billion. During the same period last year, the company earned $5.98 EPS. Lam Research’s quarterly revenue was up 20.7% compared to the same quarter last year. As a group, equities analysts forecast that Lam Research Co. will post 35.09 earnings per share for the current year.

Lam Research declared that its Board of Directors has initiated a share buyback plan on Tuesday, May 21st that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 8.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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.