Greenwich Wealth Management LLC Acquires 33 Shares of Lam Research Co. (NASDAQ:LRCX)

Greenwich Wealth Management LLC boosted its holdings in Lam Research Co. (NASDAQ:LRCX) by 15.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 244 shares of the semiconductor company’s stock after purchasing an additional 33 shares during the period. Greenwich Wealth Management LLC’s holdings in Lam Research were worth $260,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LRCX. Swedbank AB bought a new stake in Lam Research during the first quarter worth about $192,668,000. Van ECK Associates Corp grew its stake in shares of Lam Research by 24.6% in the first quarter. Van ECK Associates Corp now owns 968,115 shares of the semiconductor company’s stock valued at $940,592,000 after buying an additional 191,230 shares in the last quarter. Vanguard Group Inc. increased its holdings in Lam Research by 1.2% during the first 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. Price T Rowe Associates Inc. MD raised its position in Lam Research by 5.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock worth $2,875,023,000 after acquiring an additional 142,903 shares in the last quarter. Finally, Natixis lifted its stake in Lam Research by 1,267.1% in the first quarter. Natixis now owns 142,967 shares of the semiconductor company’s stock valued at $138,902,000 after acquiring an additional 132,509 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on LRCX shares. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft dropped their price objective on Lam Research from $1,100.00 to $950.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $1,200.00 price objective on shares of Lam Research in a research report on Thursday, August 1st. TD Cowen increased their price target on Lam Research from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company reduced their price objective on shares of Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” 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 assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,015.63.

Lam Research Trading Up 2.9 %

Shares of Lam Research stock opened at $769.72 on Monday. The firm’s 50-day moving average price is $868.98 and its two-hundred day moving average price is $932.18. The company has a market capitalization of $100.63 billion, a price-to-earnings ratio of 28.31, a PEG ratio of 1.48 and a beta of 1.48. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. Lam Research Co. has a 12-month low of $574.42 and a 12-month high of $1,130.00.

Lam Research’s stock is scheduled 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 issued to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share 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 analysts’ expectations of $3.82 billion. During the same period in the prior year, the company earned $5.98 earnings per share. The company’s quarterly revenue was up 20.7% on a year-over-year basis. On average, analysts forecast that Lam Research Co. will post 35.2 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be paid a dividend of $2.30 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $9.20 annualized dividend and a dividend yield of 1.20%. This is an increase from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s dividend payout ratio (DPR) is presently 33.84%.

Lam Research declared that its Board of Directors has authorized a share repurchase program on Tuesday, May 21st that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to buy up to 8.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Lam Research

In related news, SVP Neil J. Fernandes sold 4,409 shares of the 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 sale, the senior vice president now directly owns 6,857 shares in the company, valued at $7,239,346.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Lam Research news, SVP Neil J. Fernandes sold 4,409 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 6,857 shares in the company, valued at approximately $7,239,346.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Neil J. Fernandes sold 1,620 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $1,056.99, for a total value of $1,712,323.80. Following the completion of the sale, 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. Over the last 90 days, insiders have sold 16,326 shares of company stock worth $17,383,715. Company insiders own 0.32% of the company’s stock.

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.