Privium Fund Management UK Ltd Boosts Holdings in Lam Research Co. (NASDAQ:LRCX)

Privium Fund Management UK Ltd grew its position in shares of Lam Research Co. (NASDAQ:LRCX) by 146.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,245 shares of the semiconductor company’s stock after purchasing an additional 739 shares during the period. Privium Fund Management UK Ltd’s holdings in Lam Research were worth $1,336,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Little House Capital LLC lifted its holdings in Lam Research by 7.8% in the second quarter. Little House Capital LLC now owns 1,360 shares of the semiconductor company’s stock worth $1,448,000 after acquiring an additional 98 shares during the last quarter. Legacy Capital Wealth Partners LLC bought a new position in shares of Lam Research during the second quarter worth about $582,000. Fiera Capital Corp lifted its position in Lam Research by 21.8% in the 2nd quarter. Fiera Capital Corp now owns 3,006 shares of the semiconductor company’s stock valued at $3,201,000 after purchasing an additional 539 shares during the last quarter. Laidlaw Wealth Management LLC acquired a new position in Lam Research during the 2nd quarter valued at about $415,000. Finally, TIAA Trust National Association grew its position in Lam Research by 2.7% in the 2nd quarter. TIAA Trust National Association now owns 4,693 shares of the semiconductor company’s stock worth $4,997,000 after purchasing an additional 124 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Transactions at Lam Research

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 transaction of $4,654,845.84. Following the completion of the transaction, the senior vice president now directly owns 6,857 shares of the company’s stock, valued at approximately $7,239,346.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Neil J. Fernandes sold 4,409 shares of Lam Research stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the completion of the transaction, the senior vice president now directly owns 6,857 shares of the company’s stock, valued at approximately $7,239,346.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Neil J. Fernandes sold 1,620 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $1,056.99, for a total transaction of $1,712,323.80. Following the completion of the transaction, the senior vice president now directly owns 5,237 shares of the company’s stock, valued at $5,535,456.63. 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. Company insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $1,200.00 target price on shares of Lam Research in a research note on Thursday, August 1st. Barclays increased their target price 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. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Wells Fargo & Company cut their target price on Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. Finally, Raymond James lifted their price target on Lam Research from $950.00 to $1,060.00 and gave the company an “outperform” rating in a research report on Friday, June 7th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,006.10.

Lam Research Stock Performance

NASDAQ:LRCX traded down $40.59 during midday trading on Tuesday, reaching $780.42. The stock had a trading volume of 407,993 shares, compared to its average volume of 1,069,473. Lam Research Co. has a 1-year low of $574.42 and a 1-year high of $1,130.00. The firm’s fifty day simple moving average is $925.90 and its 200-day simple moving average is $943.09. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. The stock has a market capitalization of $102.03 billion, a P/E ratio of 30.20, a PEG ratio of 1.58 and a beta of 1.48.

Lam Research shares are set to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be payable to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.58 by $0.56. The company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The business’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period last year, the business posted $5.98 EPS. On average, equities research 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 authorized a share buyback program on Tuesday, May 21st that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 8.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Lam Research Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.18%. This is an increase 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 (DPR) is presently 33.84%.

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.