Quotient Wealth Partners LLC Increases Holdings in Lam Research Co. (NASDAQ:LRCX)

Quotient Wealth Partners LLC raised its stake in Lam Research Co. (NASDAQ:LRCX) by 7.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 479 shares of the semiconductor company’s stock after acquiring an additional 33 shares during the period. Quotient Wealth Partners LLC’s holdings in Lam Research were worth $510,000 as of its most recent SEC filing.

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

Lam Research Trading Up 1.4 %

LRCX stock traded up $11.65 during mid-day trading on Friday, reaching $847.37. The company had a trading volume of 1,067,121 shares, compared to its average volume of 1,071,567. The company has a market capitalization of $110.79 billion, a PE ratio of 31.16, a price-to-earnings-growth ratio of 2.41 and a beta of 1.48. The firm has a 50 day moving average of $955.97 and a 200 day moving average of $945.30. Lam Research Co. has a 12 month low of $574.42 and a 12 month high of $1,130.00. 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’s stock is 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 issued to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share for the quarter, beating 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 business had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.82 billion. During the same period in the previous year, the company posted $5.98 EPS. Lam Research’s revenue was up 20.7% on a year-over-year basis. On average, equities analysts predict that Lam Research Co. will post 35.09 earnings per share for the current fiscal year.

Lam Research announced that its Board of Directors has authorized a share repurchase plan on Tuesday, May 21st that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase up to 8.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, SVP Neil J. Fernandes sold 4,409 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total value of $4,654,845.84. Following the sale, the senior vice president now directly owns 6,857 shares in the company, valued at approximately $7,239,346.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Lam Research news, SVP Neil J. Fernandes sold 4,409 shares of the stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 6,857 shares in the company, valued at $7,239,346.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Timothy Archer sold 9,650 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 84,639 shares of the company’s stock, valued at approximately $90,596,739.21. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,326 shares of company stock worth $17,383,715. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $1,130.00 price target on shares of Lam Research in a research note on Thursday, August 1st. Wells Fargo & Company dropped their price target on Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. Cantor Fitzgerald reiterated a “neutral” rating and set a $1,200.00 price objective on shares of Lam Research in a research report on Thursday, August 1st. Raymond James upped their price target on shares of Lam Research from $950.00 to $1,060.00 and gave the company an “outperform” rating in a research report on Friday, June 7th. Finally, StockNews.com cut shares of 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 issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,006.10.

Lam Research Company 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.