Lloyd Advisory Services LLC. Makes New Investment in Lam Research Co. (NASDAQ:LRCX)

Lloyd Advisory Services LLC. purchased a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 500 shares of the semiconductor company’s stock, valued at approximately $532,000.

Several other hedge funds have also recently added to or reduced their stakes in LRCX. Gryphon Financial Partners LLC bought a new stake in shares of Lam Research in the 4th quarter valued at about $476,000. Wealthspire Advisors LLC lifted its stake in shares of Lam Research by 11.1% in the 4th quarter. Wealthspire Advisors LLC now owns 1,118 shares of the semiconductor company’s stock valued at $876,000 after acquiring an additional 112 shares during the last quarter. Montag A & Associates Inc. lifted its stake in shares of Lam Research by 5.9% in the 4th quarter. Montag A & Associates Inc. now owns 1,446 shares of the semiconductor company’s stock valued at $1,136,000 after acquiring an additional 81 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of Lam Research in the 4th quarter valued at about $1,113,000. Finally, Dana Investment Advisors Inc. lifted its stake in shares of Lam Research by 3.9% in the 4th quarter. Dana Investment Advisors Inc. now owns 4,072 shares of the semiconductor company’s stock valued at $3,189,000 after acquiring an additional 151 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling

In related news, SVP Neil J. Fernandes sold 4,409 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total value of $4,654,845.84. Following the transaction, the senior vice president now directly 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 available through the SEC website. In related news, CEO Timothy Archer sold 9,650 shares of the firm’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 transaction, the chief executive officer now directly owns 84,639 shares of the company’s stock, valued at approximately $90,596,739.21. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Neil J. Fernandes sold 4,409 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total value of $4,654,845.84. Following the completion of the transaction, the senior vice president now directly owns 6,857 shares in the company, valued at $7,239,346.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,326 shares of company stock valued at $17,383,715. 0.32% of the stock is owned by company insiders.

Lam Research Stock Performance

Lam Research stock opened at $733.83 on Friday. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $95.94 billion, a P/E ratio of 26.99, a PEG ratio of 1.58 and a beta of 1.48. The stock’s 50 day moving average is $901.71 and its 200 day moving average is $938.10. Lam Research Co. has a twelve month low of $574.42 and a twelve month high of $1,130.00.

Lam Research’s stock is 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 released 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. The business had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The firm’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the firm posted $5.98 EPS. On average, equities research analysts predict that Lam Research Co. will post 35.2 earnings per share for the current fiscal year.

Lam Research announced that its Board of Directors has initiated a share buyback program on Tuesday, May 21st that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to buy up to 8.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Lam Research Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 1.25%. 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 dividend payout ratio is presently 33.84%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on LRCX shares. Citigroup lowered their price target on Lam Research from $1,025.00 to $990.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft lowered their price target on 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. Jefferies Financial Group started coverage on Lam Research in a research report on Monday, May 13th. They set a “buy” rating and a $1,100.00 price target for the company. B. Riley upped their price target on Lam Research from $1,130.00 to $1,325.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Finally, TD Cowen upped their price target on Lam Research from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,006.10.

About Lam Research

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.