Commonwealth Equity Services LLC Purchases 10,382 Shares of Lam Research Co. (NASDAQ:LRCX)

Commonwealth Equity Services LLC raised its position in Lam Research Co. (NASDAQ:LRCX) by 29.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 45,599 shares of the semiconductor company’s stock after buying an additional 10,382 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Lam Research were worth $29,314,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Intellectus Partners LLC lifted its stake in Lam Research by 0.8% in the second quarter. Intellectus Partners LLC now owns 1,840 shares of the semiconductor company’s stock worth $1,186,000 after acquiring an additional 14 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Lam Research by 5.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 289 shares of the semiconductor company’s stock valued at $186,000 after purchasing an additional 15 shares in the last quarter. Penobscot Investment Management Company Inc. increased its position in shares of Lam Research by 1.1% during the second quarter. Penobscot Investment Management Company Inc. now owns 1,360 shares of the semiconductor company’s stock valued at $874,000 after buying an additional 15 shares during the period. Washington Trust Advisors Inc. raised its stake in Lam Research by 10.4% in the second quarter. Washington Trust Advisors Inc. now owns 170 shares of the semiconductor company’s stock worth $109,000 after buying an additional 16 shares in the last quarter. Finally, Northstar Group Inc. lifted its holdings in Lam Research by 4.2% in the second quarter. Northstar Group Inc. now owns 401 shares of the semiconductor company’s stock worth $258,000 after buying an additional 16 shares during the period. 84.08% of the stock is owned by institutional investors.

Lam Research Price Performance

LRCX opened at $700.34 on Monday. The company’s 50-day simple moving average is $633.31 and its two-hundred day simple moving average is $633.62. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.94 and a current ratio of 3.06. The stock has a market capitalization of $92.30 billion, a P/E ratio of 23.81, a P/E/G ratio of 4.84 and a beta of 1.52. Lam Research Co. has a 52-week low of $397.06 and a 52-week high of $726.53.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, October 18th. The semiconductor company reported $6.85 earnings per share for the quarter, beating analysts’ consensus estimates of $6.15 by $0.70. Lam Research had a net margin of 25.08% and a return on equity of 50.02%. The company had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.42 billion. During the same quarter in the prior year, the firm earned $10.42 earnings per share. The firm’s revenue for the quarter was down 31.4% compared to the same quarter last year. As a group, analysts predict that Lam Research Co. will post 27.65 EPS for the current year.

Lam Research Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Wednesday, December 13th will be issued a $2.00 dividend. The ex-dividend date is Tuesday, December 12th. This represents a $8.00 annualized dividend and a dividend yield of 1.14%. This is a positive change from Lam Research’s previous quarterly dividend of $0.28. Lam Research’s payout ratio is presently 27.20%.

Analyst Ratings Changes

Several research analysts have recently issued reports on LRCX shares. JPMorgan Chase & Co. decreased their target price on Lam Research from $720.00 to $700.00 and set an “overweight” rating for the company in a research report on Thursday, October 19th. Wells Fargo & Company boosted their target price on shares of Lam Research from $620.00 to $650.00 in a report on Thursday, July 27th. Mizuho increased their price target on shares of Lam Research from $520.00 to $680.00 and gave the stock a “buy” rating in a research note on Monday, July 24th. StockNews.com initiated coverage on shares of Lam Research in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Stifel Nicolaus raised their target price on shares of Lam Research from $725.00 to $750.00 and gave the company a “buy” rating in a research note on Monday, August 28th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and a consensus target price of $660.00.

Insider Activity at Lam Research

In other Lam Research news, EVP Patrick J. Lord sold 2,832 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $700.00, for a total transaction of $1,982,400.00. Following the completion of the sale, the executive vice president now directly owns 9,892 shares in the company, valued at approximately $6,924,400. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Patrick J. Lord sold 1,845 shares of Lam Research stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $691.67, for a total transaction of $1,276,131.15. Following the transaction, the executive vice president now directly owns 9,892 shares in the company, valued at $6,841,999.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Patrick J. Lord sold 2,832 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $700.00, for a total value of $1,982,400.00. Following the transaction, the executive vice president now owns 9,892 shares of the company’s stock, valued at $6,924,400. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,404 shares of company stock worth $5,057,582. 0.32% of the stock is owned by insiders.

Lam Research Company 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.