Custom Index Systems LLC Has $915,000 Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Custom Index Systems LLC lifted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 10.3% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 859 shares of the semiconductor company’s stock after buying an additional 80 shares during the period. Custom Index Systems LLC’s holdings in Lam Research were worth $915,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Lam Research during the second quarter worth $32,000. RFP Financial Group LLC boosted its holdings in shares of Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 12 shares in the last quarter. DSM Capital Partners LLC acquired a new position in Lam Research in the 4th quarter worth about $28,000. Hobbs Group Advisors LLC acquired a new position in Lam Research in the 2nd quarter worth about $40,000. Finally, Partnership Wealth Management LLC bought a new position in Lam Research in the fourth quarter valued at about $33,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Performance

NASDAQ:LRCX opened at $733.83 on Friday. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. Lam Research Co. has a twelve month low of $574.42 and a twelve month high of $1,130.00. The company has a fifty day moving average of $901.71 and a 200-day moving average of $938.36. The firm has a market capitalization of $95.94 billion, a P/E ratio of 26.99, a P/E/G ratio of 1.58 and a beta of 1.48.

Lam Research shares are scheduled to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly created 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, topping analysts’ consensus estimates of $7.58 by $0.56. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter in the prior year, the firm earned $5.98 EPS. The business’s revenue was up 20.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Lam Research Co. will post 35.2 EPS for the current year.

Lam Research Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.25%. This is a positive change from Lam Research’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Tuesday, September 17th. Lam Research’s dividend payout ratio is presently 33.84%.

Lam Research announced that its Board of Directors has initiated a share buyback program on Tuesday, May 21st that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to purchase up to 8.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. B. Riley lifted their price target on Lam Research from $1,130.00 to $1,325.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. 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. Barclays upped their price target on shares of Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 5th. Raymond James boosted their price objective on shares of Lam Research from $950.00 to $1,060.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Finally, Needham & Company LLC restated a “buy” rating and issued a $1,130.00 price objective on shares of Lam Research in a report on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,006.10.

Insider Activity at Lam Research

In other Lam Research news, CEO Timothy Archer sold 9,650 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 84,639 shares in the company, valued at $90,596,739.21. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, SVP Neil J. Fernandes sold 4,409 shares of Lam Research 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 transaction 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Timothy Archer sold 9,650 shares of the 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 completion of 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 90 days, insiders sold 16,326 shares of company stock valued at $17,383,715. 0.32% of the stock is owned by company insiders.

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.