Lam Research Co. (NASDAQ:LRCX) Shares Sold by Stoneridge Investment Partners LLC

Stoneridge Investment Partners LLC cut its stake in Lam Research Co. (NASDAQ:LRCX) by 4.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,079 shares of the semiconductor company’s stock after selling 50 shares during the quarter. Stoneridge Investment Partners LLC’s holdings in Lam Research were worth $1,149,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. DSM Capital Partners LLC acquired a new position in Lam Research in the 4th quarter worth $28,000. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Lam Research in the second quarter worth about $32,000. RFP Financial Group LLC increased its holdings in Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 12 shares during the last quarter. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of Lam Research during the 4th quarter valued at approximately $39,000. Finally, Raleigh Capital Management Inc. grew its position in shares of Lam Research by 78.6% during the fourth quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock worth $39,000 after buying an additional 22 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LRCX. Barclays boosted their target price on shares of Lam Research from $865.00 to $900.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 5th. StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Needham & Company LLC restated a “buy” rating and set a $1,130.00 price objective on shares of Lam Research in a research note on Thursday, August 1st. Raymond James boosted 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 note on Friday, June 7th. Finally, Wells Fargo & Company decreased their price target on shares of 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. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,006.10.

Insider Buying and Selling

In related news, CEO Timothy Archer sold 9,650 shares of the stock in a transaction on 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 in the company, valued at $90,596,739.21. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other 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 transaction of $4,654,845.84. Following the transaction, the senior vice president now 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 SEC, which is accessible through this hyperlink. Also, CEO Timothy Archer sold 9,650 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 84,639 shares of the company’s stock, valued at $90,596,739.21. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,326 shares of company stock worth $17,383,715. 0.32% of the stock is owned by company insiders.

Lam Research Price Performance

Shares of Lam Research stock opened at $769.72 on Friday. Lam Research Co. has a 52 week low of $574.42 and a 52 week high of $1,130.00. The stock has a market cap of $99.97 billion, a PE ratio of 28.31, a price-to-earnings-growth ratio of 1.48 and a beta of 1.48. The company’s 50-day moving average price is $868.98 and its two-hundred day moving average price is $932.10. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52.

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 market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data 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. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the previous year, the company earned $5.98 EPS. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lam Research Co. will post 35.2 EPS for the current fiscal year.

Lam Research Increases Dividend

The firm 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 an increase from Lam Research’s previous quarterly dividend of $2.00. This represents a $9.20 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Tuesday, September 17th. Lam Research’s dividend payout ratio is currently 29.42%.

Lam Research declared that its board has initiated a share repurchase plan on Tuesday, May 21st that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase up to 8.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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.