RGM Capital LLC Cuts Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

RGM Capital LLC cut its stake in Lam Research Co. (NASDAQ:LRCX) by 21.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 511,384 shares of the semiconductor company’s stock after selling 139,400 shares during the period. Lam Research comprises about 6.9% of RGM Capital LLC’s investment portfolio, making the stock its 6th largest position. RGM Capital LLC owned 0.34% of Lam Research worth $96,058,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Lcnb Corp boosted its holdings in shares of Lam Research by 2.2% in the 2nd quarter. Lcnb Corp now owns 2,306 shares of the semiconductor company’s stock valued at $433,000 after buying an additional 50 shares in the last quarter. Cypress Capital LLC boosted its holdings in shares of Lam Research by 1.4% in the 2nd quarter. Cypress Capital LLC now owns 4,126 shares of the semiconductor company’s stock valued at $775,000 after buying an additional 56 shares in the last quarter. Confluence Wealth Management LLC boosted its holdings in shares of Lam Research by 2.0% in the 2nd quarter. Confluence Wealth Management LLC now owns 2,906 shares of the semiconductor company’s stock valued at $546,000 after buying an additional 56 shares in the last quarter. ETF Managers Group LLC boosted its holdings in shares of Lam Research by 9.0% in the 1st quarter. ETF Managers Group LLC now owns 713 shares of the semiconductor company’s stock valued at $128,000 after buying an additional 59 shares in the last quarter. Finally, Synovus Financial Corp boosted its holdings in shares of Lam Research by 10.7% in the 1st quarter. Synovus Financial Corp now owns 654 shares of the semiconductor company’s stock valued at $117,000 after buying an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

LRCX traded down $0.52 during trading on Monday, reaching $235.04. 122,670 shares of the company’s stock were exchanged, compared to its average volume of 1,535,410. Lam Research Co. has a 1 year low of $122.64 and a 1 year high of $237.90. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.61 and a quick ratio of 2.96. The stock has a market capitalization of $33.86 billion, a P/E ratio of 16.15, a price-to-earnings-growth ratio of 1.44 and a beta of 1.62. The company’s fifty day simple moving average is $209.00 and its 200-day simple moving average is $192.53.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $3.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.40 by $0.22. Lam Research had a net margin of 22.70% and a return on equity of 43.72%. The company had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.37 billion. During the same period last year, the firm posted $5.31 EPS. Lam Research’s revenue for the quarter was down 24.5% compared to the same quarter last year. Equities analysts forecast that Lam Research Co. will post 13.6 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Tuesday, October 1st will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, September 30th. This is a positive change from Lam Research’s previous quarterly dividend of $1.10. This represents a $4.60 dividend on an annualized basis and a yield of 1.96%. Lam Research’s dividend payout ratio (DPR) is currently 30.24%.

A number of analysts have recently weighed in on the stock. Needham & Company LLC raised their price target on shares of Lam Research from $220.00 to $250.00 and gave the company a “buy” rating in a report on Friday. Credit Suisse Group restated a “positive” rating on shares of Lam Research in a report on Monday, July 8th. They noted that the move was a valuation call. Royal Bank of Canada reaffirmed a “buy” rating on shares of Lam Research in a research report on Wednesday, August 7th. ValuEngine lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Cfra set a $210.00 price objective on shares of Lam Research and gave the company a “hold” rating in a research report on Saturday, August 31st. Eleven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $221.88.

In other news, SVP Vahid Vahedi sold 12,007 shares of Lam Research stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $220.00, for a total transaction of $2,641,540.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Sarah A. O’dowd sold 22,140 shares of Lam Research stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $233.77, for a total transaction of $5,175,667.80. The disclosure for this sale can be found here. Insiders have sold a total of 67,997 shares of company stock valued at $14,854,855 over the last three months. 0.44% of the stock is currently owned by insiders.

About Lam Research

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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