Axa S.A. Purchases 5,155 Shares of Lam Research Co. (NASDAQ:LRCX)

Axa S.A. boosted its holdings in Lam Research Co. (NASDAQ:LRCX) by 13.9% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 42,230 shares of the semiconductor company’s stock after buying an additional 5,155 shares during the period. Axa S.A.’s holdings in Lam Research were worth $44,969,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Lam Research during the second quarter worth $32,000. RFP Financial Group LLC grew its stake in shares of Lam Research by 52.2% in the 2nd 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. Raleigh Capital Management Inc. increased its holdings in shares of Lam Research by 78.6% in the 4th quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock worth $39,000 after buying an additional 22 shares during the last quarter. Hobbs Group Advisors LLC purchased a new stake in Lam Research during the second quarter valued at approximately $40,000. Finally, Country Trust Bank purchased a new position in shares of Lam Research in the 2nd quarter worth approximately $43,000. 84.61% of the stock is owned by institutional investors.

Lam Research Price Performance

LRCX stock opened at $803.75 on Thursday. 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 business has a 50 day simple moving average of $825.01 and a 200-day simple moving average of $922.49. Lam Research Co. has a twelve month low of $574.42 and a twelve month high of $1,130.00. The company has a market capitalization of $105.08 billion, a P/E ratio of 29.56, a PEG ratio of 1.51 and a beta of 1.48.

Lam Research shares are scheduled to split on the morning of 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 announced its earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share for the quarter, beating the consensus estimate of $7.58 by $0.56. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The company’s revenue was up 20.7% on a year-over-year basis. During the same period last year, the firm earned $5.98 earnings per share. As a group, equities analysts anticipate that Lam Research Co. will post 35.2 EPS for the current year.

Lam Research Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be given a dividend of $2.30 per share. The ex-dividend date is Tuesday, September 17th. This is a positive change from Lam Research’s previous quarterly dividend of $2.00. This represents a $9.20 dividend on an annualized basis and a yield of 1.14%. Lam Research’s dividend payout ratio (DPR) is presently 33.84%.

Insiders Place Their Bets

In other news, SVP Neil J. Fernandes sold 1,620 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $1,056.99, for a total transaction of $1,712,323.80. Following the transaction, the senior vice president now owns 5,237 shares in the company, valued at approximately $5,535,456.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the completion of the sale, the chief accounting officer now directly owns 4,914 shares of the company’s stock, valued at approximately $5,219,945.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Neil J. Fernandes sold 1,620 shares of the business’s 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 transaction, the senior vice president now directly owns 5,237 shares of the company’s stock, valued at approximately $5,535,456.63. The disclosure for this sale can be found here. Insiders have sold a total of 11,917 shares of company stock valued at $12,728,870 in the last three months. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

LRCX has been the topic of several analyst reports. Citigroup cut their price target on shares of Lam Research from $990.00 to $893.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Morgan Stanley lowered their target price on shares of Lam Research from $929.00 to $774.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 17th. StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Cantor Fitzgerald restated a “neutral” rating and issued a $1,200.00 target price on shares of Lam Research in a research note on Thursday, August 1st. Finally, Barclays lifted their price objective on Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a report on Wednesday, June 5th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lam Research has an average rating of “Moderate Buy” and a consensus price target of $1,012.84.

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.