Angeles Investment Advisors LLC Decreases Stock Position in Lam Research Co. (NASDAQ:LRCX)

Angeles Investment Advisors LLC lessened its holdings in Lam Research Co. (NASDAQ:LRCX) by 23.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 675 shares of the semiconductor company’s stock after selling 207 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Lam Research were worth $720,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. DSM Capital Partners LLC purchased a new stake in Lam Research during the 4th quarter worth approximately $28,000. CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Lam Research during the second quarter worth $32,000. RFP Financial Group LLC grew its holdings in shares of Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 12 shares during the last quarter. Raleigh Capital Management Inc. increased its position in shares of 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 purchased a new position in Lam Research in the 2nd quarter worth $40,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

LRCX has been the subject of several research analyst reports. UBS Group reduced their price objective on Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Lam Research from $1,100.00 to $950.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Raymond James raised their target price on shares of Lam Research from $950.00 to $1,060.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,130.00 price target on shares of Lam Research in a report on Thursday, August 1st. Finally, StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Six investment 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 a consensus price target of $1,015.63.

Insider Buying and Selling at Lam Research

In other news, CEO Timothy Archer sold 9,650 shares of the business’s 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 sale, the chief executive officer now directly owns 84,639 shares of the company’s stock, valued at approximately $90,596,739.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Timothy Archer sold 9,650 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now 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 is available through this link. Also, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction dated 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 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. Insiders have sold 16,326 shares of company stock valued at $17,383,715 over the last 90 days. 0.32% of the stock is owned by insiders.

Lam Research Stock Up 2.9 %

Shares of NASDAQ LRCX opened at $769.72 on Monday. The firm has a market cap of $100.63 billion, a price-to-earnings ratio of 28.31, a price-to-earnings-growth ratio of 1.48 and a beta of 1.48. The company’s 50-day simple moving average is $868.98 and its 200-day simple moving average is $932.18. 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 52-week low of $574.42 and a 52-week high of $1,130.00.

Lam Research shares are 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 closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.58 by $0.56. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter in the prior year, the company earned $5.98 EPS. Lam Research’s revenue was up 20.7% compared to the same quarter last year. Equities analysts predict that Lam Research Co. will post 35.2 EPS for the current fiscal year.

Lam Research Increases Dividend

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

Lam Research announced that its Board of Directors has authorized a stock repurchase program on Tuesday, May 21st that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 8.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

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.