Vanguard Personalized Indexing Management LLC Purchases 968 Shares of Lam Research Co. (NASDAQ:LRCX)

Vanguard Personalized Indexing Management LLC raised its position in Lam Research Co. (NASDAQ:LRCX) by 7.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,794 shares of the semiconductor company’s stock after purchasing an additional 968 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Lam Research were worth $15,230,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. CarsonAllaria Wealth Management Ltd. acquired a new position in Lam Research during the second quarter worth $32,000. RFP Financial Group LLC boosted its holdings in Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 12 shares during the last quarter. DSM Capital Partners LLC acquired a new position in Lam Research during the fourth quarter worth $28,000. Hobbs Group Advisors LLC acquired a new position in Lam Research during the second quarter worth $40,000. Finally, Country Trust Bank acquired a new position in Lam Research during the second quarter worth $43,000. Institutional investors own 84.61% of the company’s stock.

Insider Activity at Lam Research

In related news, CAO Christina Correia sold 647 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $1,062.26, for a total value of $687,282.22. Following the completion of the transaction, the chief accounting officer now owns 4,914 shares of the company’s stock, valued at approximately $5,219,945.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related 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 transaction, the senior vice president now owns 6,857 shares in the company, valued at approximately $7,239,346.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Christina Correia sold 647 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the completion of the transaction, the chief accounting officer now owns 4,914 shares of the company’s stock, valued at $5,219,945.64. 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 insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Barclays increased their price target on shares of 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 cut their price target on shares of Lam Research from $990.00 to $893.00 and set a “buy” rating for the company in a research note on Monday. Wells Fargo & Company cut their price target 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 note on Thursday, August 1st. Finally, Cantor Fitzgerald reiterated 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 research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and an average price target of $1,013.37.

Lam Research Price Performance

LRCX stock opened at $766.04 on Wednesday. The company’s 50-day moving average price is $855.19 and its two-hundred day moving average price is $929.39. The firm has a market cap of $100.15 billion, a P/E ratio of 28.17, a P/E/G 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 anticipate that Lam Research Co. will post 35.2 earnings per share for the current fiscal year.

Lam Research declared that its board has approved a share buyback program on Tuesday, May 21st that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to purchase up to 8.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Lam Research Increases Dividend

The business 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 $2.30 dividend. This is an increase from Lam Research’s previous quarterly dividend of $2.00. This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is presently 33.84%.

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.