Global X Japan Co. Ltd. Boosts Holdings in Lam Research Co. (NASDAQ:LRCX)

Global X Japan Co. Ltd. increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 16.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,643 shares of the semiconductor company’s stock after buying an additional 807 shares during the period. Lam Research comprises 0.9% of Global X Japan Co. Ltd.’s investment portfolio, making the stock its 26th largest holding. Global X Japan Co. Ltd.’s holdings in Lam Research were worth $6,009,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DSM Capital Partners LLC purchased a new position in Lam Research in the fourth quarter valued at $28,000. CarsonAllaria Wealth Management Ltd. acquired a new stake in Lam Research in the 2nd quarter valued at about $32,000. Partnership Wealth Management LLC purchased a new position in shares of Lam Research in the 4th quarter valued at about $33,000. RFP Financial Group LLC grew its position in shares of Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after buying an additional 12 shares in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC acquired a new stake in Lam Research in the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Price Performance

Shares of LRCX opened at $734.31 on Tuesday. The company has a market capitalization of $95.37 billion, a price-to-earnings ratio of 27.01, a price-to-earnings-growth ratio of 1.41 and a beta of 1.48. Lam Research Co. has a fifty-two week low of $574.42 and a fifty-two week high of $1,130.00. The firm has a 50-day simple moving average of $895.19 and a 200-day simple moving average of $937.14. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97.

Shares of Lam Research are going 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 payable to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.58 by $0.56. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company had revenue of $3.87 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. On average, equities research analysts anticipate that Lam Research Co. will post 35.2 earnings per share for the current year.

Lam Research declared that its Board of Directors has authorized a share buyback program on Tuesday, May 21st that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to purchase up to 8.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Lam Research Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be paid a $2.30 dividend. This is a boost from Lam Research’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $9.20 annualized dividend and a dividend yield of 1.25%. Lam Research’s dividend payout ratio (DPR) is 29.42%.

Insider Buying and Selling

In other Lam Research news, CEO Timothy Archer sold 9,650 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $1,070.39, for a total value of $10,329,263.50. Following the completion of the transaction, the chief executive officer now directly owns 84,639 shares of the company’s stock, valued at $90,596,739.21. The sale was disclosed in a filing with the SEC, which is available at this link. In other Lam Research news, CEO Timothy Archer sold 9,650 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now owns 84,639 shares of the company’s stock, valued at $90,596,739.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction on 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. Over the last 90 days, insiders have sold 16,326 shares of company stock valued at $17,383,715. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Lam Research from $1,100.00 to $950.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Cantor Fitzgerald reissued a “neutral” rating and issued a $1,200.00 target price on shares of Lam Research in a report on Thursday, August 1st. Wells Fargo & Company decreased their price target on Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. Jefferies Financial Group began coverage on Lam Research in a research report on Monday, May 13th. They set a “buy” rating and a $1,100.00 price objective for the company. Finally, B. Riley boosted their target price on Lam Research from $1,130.00 to $1,325.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.