Lam Research Co. (NASDAQ:LRCX) Stock Holdings Increased by Van Hulzen Asset Management LLC

Van Hulzen Asset Management LLC lifted its position in Lam Research Co. (NASDAQ:LRCX) by 0.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,607 shares of the semiconductor company’s stock after buying an additional 30 shares during the period. Van Hulzen Asset Management LLC’s holdings in Lam Research were worth $5,971,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of LRCX. Gryphon Financial Partners LLC bought a new stake in shares of Lam Research in the 4th quarter worth $476,000. Qsemble Capital Management LP bought a new stake in shares of Lam Research in the 4th quarter worth $371,000. Jump Financial LLC raised its stake in shares of Lam Research by 108.1% in the 4th quarter. Jump Financial LLC now owns 2,283 shares of the semiconductor company’s stock worth $1,788,000 after buying an additional 1,186 shares in the last quarter. AlphaStar Capital Management LLC bought a new stake in shares of Lam Research in the 4th quarter worth $374,000. Finally, Checchi Capital Advisers LLC raised its stake in shares of Lam Research by 1.0% in the 4th quarter. Checchi Capital Advisers LLC now owns 1,781 shares of the semiconductor company’s stock worth $1,395,000 after buying an additional 18 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Insiders Place Their Bets

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 completion of the transaction, the chief accounting officer now owns 4,914 shares of the company’s stock, valued at approximately $5,219,945.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Timothy Archer sold 9,650 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $1,070.39, for a total transaction of $10,329,263.50. Following the completion of the transaction, the chief executive officer now owns 84,639 shares of the company’s stock, valued at approximately $90,596,739.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $687,282.22. Following the transaction, the chief accounting officer now directly owns 4,914 shares of the company’s stock, valued at approximately $5,219,945.64. The disclosure for this sale can be found here. Insiders sold 16,326 shares of company stock valued at $17,383,715 over the last quarter. Insiders own 0.32% of the company’s stock.

Lam Research Price Performance

LRCX opened at $734.31 on Tuesday. The stock has a market cap of $95.37 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 1.41 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 current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. The stock has a fifty day moving average price of $895.19 and a 200 day moving average price of $937.14.

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

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share 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 company had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter in the previous 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 forecast that Lam Research Co. will post 35.2 EPS for the current fiscal year.

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

Lam Research Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders 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 dividend yield of 1.25%. This is a boost from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s payout ratio is currently 29.42%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on LRCX shares. TD Cowen lifted their target price on Lam Research from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Needham & Company LLC restated a “buy” rating and issued a $1,130.00 target price on shares of Lam Research in a report on Thursday, August 1st. Wells Fargo & Company decreased their target price on 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 restated 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 decreased 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, Lam Research presently has an average 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.