Excalibur Management Corp Acquires Shares of 212 Lam Research Co. (NASDAQ:LRCX)

Excalibur Management Corp bought a new position in Lam Research Co. (NASDAQ:LRCX) in the second quarter, HoldingsChannel reports. The firm bought 212 shares of the semiconductor company’s stock, valued at approximately $225,000.

Other large investors have also recently modified their holdings of the company. CarsonAllaria Wealth Management Ltd. purchased a new position in Lam Research during the second quarter worth $32,000. RFP Financial Group LLC lifted its holdings 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 acquiring an additional 12 shares during the last quarter. DSM Capital Partners LLC purchased a new position in shares of Lam Research during the 4th quarter worth about $28,000. Hobbs Group Advisors LLC bought a new position in Lam Research during the 2nd quarter valued at about $40,000. Finally, Country Trust Bank purchased a new stake in Lam Research in the 2nd quarter worth about $43,000. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

Shares of LRCX stock opened at $758.47 on Tuesday. The firm has a market cap of $99.16 billion, a price-to-earnings ratio of 27.90, a PEG ratio of 1.48 and a beta of 1.48. Lam Research Co. has a 52-week low of $574.42 and a 52-week high of $1,130.00. 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’s 50 day moving average is $862.12 and its 200 day moving average is $930.91.

Shares of Lam Research are set to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be payable to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last released 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 return on equity of 48.71% and a net margin of 25.68%. The firm had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.82 billion. During the same period in the previous year, the company posted $5.98 EPS. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Lam Research Co. will post 35.2 EPS for the current fiscal year.

Lam Research announced that its Board of Directors has authorized a share repurchase plan on Tuesday, May 21st that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase up to 8.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Lam Research Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be given a $2.30 dividend. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.21%. This is an increase from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s payout ratio is presently 33.84%.

Insider Buying and Selling

In other Lam Research news, SVP Neil J. Fernandes sold 4,409 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total value of $4,654,845.84. Following the completion of the sale, the senior vice president now directly owns 6,857 shares in the company, valued at $7,239,346.32. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Timothy Archer sold 9,650 shares of Lam Research stock in a transaction that occurred on 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 approximately $90,596,739.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Neil J. Fernandes sold 4,409 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were 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 in the company, valued at approximately $7,239,346.32. The disclosure for this sale can be found here. Insiders sold a total of 16,326 shares of company stock worth $17,383,715 in the last 90 days. 0.32% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the company. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Barclays boosted 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 increased their target price on Lam Research from $950.00 to $1,060.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. B. Riley boosted their target price on shares of Lam Research from $1,130.00 to $1,325.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $1,200.00 price target on shares of Lam Research in a research note on Thursday, August 1st. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,010.53.

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.