Lam Research Co. (NASDAQ:LRCX) Shares Bought by Insigneo Advisory Services LLC

Insigneo Advisory Services LLC raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 2.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 907 shares of the semiconductor company’s stock after purchasing an additional 23 shares during the period. Insigneo Advisory Services LLC’s holdings in Lam Research were worth $966,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. CarsonAllaria Wealth Management Ltd. purchased a new stake in Lam Research in the second quarter valued at about $32,000. RFP Financial Group LLC raised its position 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 valued at $37,000 after purchasing an additional 12 shares during the last quarter. Raleigh Capital Management Inc. boosted its stake in 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 purchasing an additional 22 shares in the last quarter. Hobbs Group Advisors LLC purchased a new stake in Lam Research during the 2nd quarter worth approximately $40,000. Finally, Country Trust Bank acquired a new position in Lam Research during the 2nd quarter valued at approximately $43,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Timothy Archer sold 9,650 shares of the firm’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 transaction, the chief executive officer now owns 84,639 shares in the company, valued at $90,596,739.21. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other 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 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 document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction, the senior vice president now owns 5,237 shares in the company, valued at $5,535,456.63. The disclosure for this sale can be found here. In the last three months, insiders sold 11,917 shares of company stock worth $12,728,870. Corporate insiders own 0.32% of the company’s stock.

Lam Research Stock Up 1.6 %

Shares of LRCX opened at $803.75 on Thursday. The firm has a market cap 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 Co. has a 12 month low of $574.42 and a 12 month high of $1,130.00. The stock’s 50 day moving average is $825.01 and its two-hundred day moving average is $922.49. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52.

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

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $3.82 billion. During the same quarter in the previous year, the firm earned $5.98 EPS. The firm’s revenue was up 20.7% compared to the same quarter last year. Analysts predict that Lam Research Co. will post 35.2 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be issued a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 1.14%. 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. Lam Research’s payout ratio is presently 33.84%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on LRCX shares. Morgan Stanley dropped their price objective on shares of Lam Research from $929.00 to $774.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 17th. Barclays increased 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. Raymond James lifted their target price on Lam Research from $950.00 to $1,060.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. B. Riley increased their price target on shares of Lam Research from $1,130.00 to $1,325.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Finally, Deutsche Bank Aktiengesellschaft reduced 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 research report on Thursday, August 1st. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,012.84.

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.