Wealth Alliance Sells 58 Shares of Lam Research Co. (NASDAQ:LRCX)

Wealth Alliance lowered its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 3.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,778 shares of the semiconductor company’s stock after selling 58 shares during the period. Wealth Alliance’s holdings in Lam Research were worth $1,894,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. DSM Capital Partners LLC bought a new stake in shares of Lam Research during the 4th quarter worth approximately $28,000. CarsonAllaria Wealth Management Ltd. bought a new stake in Lam Research in the 2nd quarter valued at $32,000. RFP Financial Group LLC raised its stake in 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 acquiring an additional 12 shares during the period. Raleigh Capital Management Inc. raised 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 valued at $39,000 after acquiring an additional 22 shares during the period. Finally, Hobbs Group Advisors LLC bought a new stake in Lam Research in the 2nd quarter valued at $40,000. Institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling at Lam Research

In other Lam Research news, CEO Timothy Archer sold 9,650 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 84,639 shares in the company, valued at $90,596,739.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Lam Research news, CEO Timothy Archer sold 9,650 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 84,639 shares in the company, valued at $90,596,739.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Neil J. Fernandes sold 4,409 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 6,857 shares of the company’s stock, valued at $7,239,346.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,326 shares of company stock worth $17,383,715. 0.32% of the stock is currently owned by insiders.

Lam Research Stock Performance

LRCX opened at $766.04 on Wednesday. The firm has a market cap of $100.15 billion, a P/E ratio of 28.17, a price-to-earnings-growth 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 debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. The business’s fifty day moving average is $855.19 and its 200-day moving average is $929.39.

Lam Research’s stock is scheduled to split on the morning of Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly created 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 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 analyst estimates of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. Lam Research’s revenue was up 20.7% compared to the same quarter last year. During the same period last year, the firm posted $5.98 earnings per share. Sell-side analysts expect that Lam Research Co. will post 35.2 EPS for the current fiscal year.

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

Lam Research Increases Dividend

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

Wall Street Analyst Weigh In

LRCX has been the topic of a number of research analyst reports. Wells Fargo & Company dropped 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 note on Thursday, August 1st. Needham & Company LLC restated a “buy” rating and issued a $1,130.00 price target on shares of Lam Research in a research note on Thursday, August 1st. Barclays increased their price target on Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 5th. Citigroup lowered their price objective on Lam Research from $990.00 to $893.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Raymond James increased their price objective on Lam Research from $950.00 to $1,060.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,013.37.

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.