Silver Lake Advisory LLC Acquires Shares of 245 Lam Research Co. (NASDAQ:LRCX)

Silver Lake Advisory LLC acquired a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 245 shares of the semiconductor company’s stock, valued at approximately $261,000.

Other institutional investors have also modified their holdings of the company. 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 during the last quarter. Fisher Asset Management LLC lifted its stake in Lam Research by 3.0% during 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 purchasing an additional 86,721 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Lam Research by 5.1% in the first 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 in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Lam Research by 7.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock valued at $1,335,522,000 after purchasing an additional 89,470 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in Lam Research by 11.1% during the second quarter. Van ECK Associates Corp now owns 1,075,893 shares of the semiconductor company’s stock worth $1,145,664,000 after purchasing an additional 107,778 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Stock Down 2.4 %

Lam Research stock opened at $827.12 on Monday. The stock’s 50 day moving average price is $817.83 and its 200 day moving average price is $920.16. Lam Research Co. has a 1-year low of $574.42 and a 1-year high of $1,130.00. The company has a market cap of $108.14 billion, a PE ratio of 30.42, a price-to-earnings-growth ratio of 1.51 and a beta of 1.48. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00.

Lam Research shares are scheduled 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 quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $8.14 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 firm had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter last year, the business earned $5.98 earnings per share. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, sell-side analysts predict that Lam Research Co. will post 35.2 EPS for the current fiscal year.

Lam Research Increases Dividend

The company also recently declared 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. The ex-dividend date is Tuesday, September 17th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.11%. This is a boost from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s dividend payout ratio is currently 33.84%.

Insider Buying and Selling

In other Lam Research news, SVP Neil J. Fernandes sold 1,620 shares of the company’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 sale, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Barclays increased their target price on shares of Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 5th. Citigroup cut their target price on Lam Research from $990.00 to $893.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. B. Riley raised their price target 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. Wells Fargo & Company cut their price target on Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Finally, TD Cowen increased their price objective on Lam Research from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the 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 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.