Personal CFO Solutions LLC Decreases Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Personal CFO Solutions LLC cut its stake in Lam Research Co. (NASDAQ:LRCX) by 18.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 730 shares of the semiconductor company’s stock after selling 168 shares during the period. Personal CFO Solutions LLC’s holdings in Lam Research were worth $470,000 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. Steward Financial Group LLC purchased a new position in shares of Lam Research during the 2nd quarter worth approximately $32,000. First Manhattan CO. LLC. increased its position in Lam Research by 117.2% during the first quarter. First Manhattan CO. LLC. now owns 63 shares of the semiconductor company’s stock worth $33,000 after buying an additional 34 shares in the last quarter. Cornerstone Management Inc. raised its holdings in shares of Lam Research by 225.0% in the first quarter. Cornerstone Management Inc. now owns 65 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 45 shares during the last quarter. Chilton Capital Management LLC acquired a new stake in shares of Lam Research during the first quarter valued at $36,000. Finally, Coppell Advisory Solutions Corp. purchased a new stake in Lam Research during the 4th quarter worth about $39,000. 84.08% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Stock Performance

Shares of NASDAQ:LRCX opened at $700.34 on Monday. The company has a market cap of $92.30 billion, a P/E ratio of 23.81, a PEG ratio of 4.84 and a beta of 1.52. Lam Research Co. has a one year low of $397.06 and a one year high of $726.53. The business’s 50-day simple moving average is $633.31 and its 200 day simple moving average is $633.62. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.94 and a current ratio of 3.06.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, October 18th. The semiconductor company reported $6.85 EPS for the quarter, topping analysts’ consensus estimates of $6.15 by $0.70. The business had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.42 billion. Lam Research had a net margin of 25.08% and a return on equity of 50.02%. During the same period in the previous year, the company posted $10.42 earnings per share. The business’s revenue for the quarter was down 31.4% compared to the same quarter last year. On average, sell-side analysts forecast that Lam Research Co. will post 27.65 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 13th will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.14%. This is a positive change from Lam Research’s previous quarterly dividend of $0.28. The ex-dividend date is Tuesday, December 12th. Lam Research’s payout ratio is presently 27.20%.

Insider Transactions at Lam Research

In related news, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $627.75, for a total value of $553,675.50. Following the completion of the transaction, the director now owns 12,117 shares of the company’s stock, valued at $7,606,446.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Patrick J. Lord sold 1,845 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $691.67, for a total value of $1,276,131.15. Following the sale, the executive vice president now owns 9,892 shares in the company, valued at approximately $6,841,999.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $627.75, for a total transaction of $553,675.50. Following the transaction, the director now directly owns 12,117 shares in the company, valued at approximately $7,606,446.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,404 shares of company stock valued at $5,057,582. 0.32% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Needham & Company LLC raised shares of Lam Research from a “hold” rating to a “buy” rating and set a $800.00 price objective for the company in a research report on Friday, October 13th. B. Riley increased their price target on Lam Research from $690.00 to $700.00 and gave the stock a “neutral” rating in a research note on Thursday, October 19th. Susquehanna lifted their price objective on Lam Research from $540.00 to $615.00 in a research report on Thursday, July 27th. Mizuho increased their target price on Lam Research from $520.00 to $680.00 and gave the stock a “buy” rating in a research report on Monday, July 24th. Finally, Raymond James initiated coverage on Lam Research in a report on Tuesday, October 17th. They issued an “outperform” rating and a $725.00 price target for the company. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $660.00.

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.