Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC raised its stake in Lam Research Co. (NASDAQ:LRCX) by 534.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,569 shares of the semiconductor company’s stock after buying an additional 4,691 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Lam Research were worth $5,930,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Lam Research by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock worth $11,519,576,000 after buying an additional 144,914 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Lam Research by 3.0% in the fourth quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock worth $2,329,037,000 after acquiring an additional 86,721 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of 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 valued at $2,875,023,000 after purchasing an additional 142,903 shares during the last quarter. Norges Bank acquired a new stake in shares of Lam Research in the 4th quarter valued at $1,414,111,000. Finally, Van ECK Associates Corp raised its stake in Lam Research by 11.1% in the second quarter. Van ECK Associates Corp now owns 1,075,893 shares of the semiconductor company’s stock valued at $1,145,664,000 after buying an additional 107,778 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Transactions at Lam Research

In related news, CEO Timothy Archer sold 9,650 shares of Lam Research 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 approximately $90,596,739.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Neil J. Fernandes sold 1,620 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $1,056.99, for a total value of $1,712,323.80. Following the completion of the transaction, the senior vice president now owns 5,237 shares of the company’s stock, valued at $5,535,456.63. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Timothy Archer sold 9,650 shares of the company’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 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. Insiders sold a total of 16,326 shares of company stock worth $17,383,715 in the last ninety days. Insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on LRCX shares. Cantor Fitzgerald restated a “neutral” rating and set a $1,200.00 target price on shares of Lam Research in a research note on Thursday, August 1st. Raymond James increased their target price 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. Needham & Company LLC reissued a “buy” rating and issued a $1,130.00 price target on shares of Lam Research in a research report on Thursday, August 1st. Barclays raised their price objective on Lam Research from $865.00 to $900.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 5th. Finally, Jefferies Financial Group assumed coverage on Lam Research in a research report on Monday, May 13th. They issued a “buy” rating and a $1,100.00 target price for the company. Six equities 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, Lam Research presently has an average rating of “Moderate Buy” and an average price target of $1,006.10.

Lam Research Price Performance

Shares of NASDAQ:LRCX traded down $2.42 during midday trading on Wednesday, hitting $763.30. 93,843 shares of the stock were exchanged, compared to its average volume of 1,071,152. Lam Research Co. has a twelve month low of $574.42 and a twelve month 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 company has a 50 day moving average price of $920.16 and a 200-day moving average price of $941.96. The stock has a market cap of $99.79 billion, a P/E ratio of 28.16, 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 created shares will be payable to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last announced its earnings results 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. The firm 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%. Lam Research’s revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the business earned $5.98 earnings per share. On average, research analysts forecast that Lam Research Co. will post 35.2 earnings per share for the current year.

Lam Research declared that its Board of Directors has initiated a share repurchase plan on Tuesday, May 21st that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to purchase up to 8.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board 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 paid a dividend of $2.30 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $9.20 dividend on an annualized basis and a yield of 1.21%. This is an increase from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s dividend payout ratio (DPR) is currently 33.84%.

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.