Headlands Technologies LLC purchased a new stake in shares of Lam Research Corporation (NASDAQ:LRCX – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,944 shares of the semiconductor company’s stock, valued at approximately $1,276,000.
Several other large investors also recently added to or reduced their stakes in LRCX. Paladin Partners LLC purchased a new stake in shares of Lam Research in the second quarter worth $26,000. Bravera Wealth purchased a new position in Lam Research during the second quarter worth about $46,000. Cedar Mountain Advisors LLC grew its position in Lam Research by 242.9% during the first quarter. Cedar Mountain Advisors LLC now owns 120 shares of the semiconductor company’s stock worth $26,000 after buying an additional 85 shares in the last quarter. Comprehensive Financial Planning Inc. PA bought a new position in Lam Research in the 2nd quarter worth about $52,000. Finally, Vermillion Wealth Management Inc. bought a new position in Lam Research in the 1st quarter worth about $26,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.
Lam Research Stock Down 0.1%
Shares of NASDAQ:LRCX opened at $301.49 on Tuesday. Lam Research Corporation has a 1 year low of $94.11 and a 1 year high of $438.50. The company has a market cap of $377.26 billion, a PE ratio of 52.34, a P/E/G ratio of 1.20 and a beta of 1.84. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.63 and a quick ratio of 1.91. The stock’s 50-day moving average is $328.26 and its 200 day moving average is $290.09.
Lam Research Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Wednesday, September 23rd will be issued a dividend of $0.33 per share. This is a boost from Lam Research’s previous quarterly dividend of $0.26. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Wednesday, September 23rd. Lam Research’s dividend payout ratio is currently 18.06%.
Insiders Place Their Bets
In other news, Director Eric Brandt sold 54,500 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $350.80, for a total value of $19,118,600.00. Following the completion of the sale, the director directly owned 199,205 shares of the company’s stock, valued at approximately $69,881,114. This trade represents a 21.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Abhijit Y. Talwalkar sold 18,282 shares of Lam Research stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $335.00, for a total transaction of $6,124,470.00. Following the sale, the director directly owned 87,142 shares in the company, valued at $29,192,570. The trade was a 17.34% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.31% of the company’s stock.
Analyst Upgrades and Downgrades
LRCX has been the subject of several research analyst reports. Weiss Ratings upgraded shares of Lam Research from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 21st. Mizuho dropped their price objective on shares of Lam Research from $370.00 to $365.00 and set an “outperform” rating for the company in a report on Tuesday, August 25th. Sanford C. Bernstein increased their target price on Lam Research from $325.00 to $340.00 and gave the company an “outperform” rating in a research note on Thursday, May 21st. Zacks Research upgraded Lam Research from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. Finally, HSBC reaffirmed a “hold” rating and set a $333.00 price target on shares of Lam Research in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $357.31.
Get Our Latest Stock Analysis on Lam Research
About Lam Research
Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.
Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.
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