2,017 Shares in Lam Research Co. (NASDAQ:LRCX) Purchased by EP Wealth Advisors LLC

EP Wealth Advisors LLC acquired a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,017 shares of the semiconductor company’s stock, valued at approximately $221,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LRCX. Baird Financial Group Inc. boosted its stake in Lam Research by 25.4% in the 4th quarter. Baird Financial Group Inc. now owns 45,921 shares of the semiconductor company’s stock worth $19,301,000 after buying an additional 9,291 shares during the last quarter. Nissay Asset Management Corp Japan ADV boosted its stake in Lam Research by 12.6% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 26,813 shares of the semiconductor company’s stock worth $14,214,000 after buying an additional 2,990 shares during the last quarter. WD Rutherford LLC boosted its stake in Lam Research by 9.1% in the 1st quarter. WD Rutherford LLC now owns 1,195 shares of the semiconductor company’s stock worth $633,000 after buying an additional 100 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Lam Research by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 245,136 shares of the semiconductor company’s stock worth $129,951,000 after buying an additional 2,982 shares during the last quarter. Finally, CBOE Vest Financial LLC boosted its stake in Lam Research by 210.2% in the 1st quarter. CBOE Vest Financial LLC now owns 2,655 shares of the semiconductor company’s stock worth $1,407,000 after buying an additional 1,799 shares during the last quarter. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. StockNews.com assumed coverage on Lam Research in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Stifel Nicolaus raised their price target on Lam Research from $725.00 to $750.00 and gave the stock a “buy” rating in a research note on Monday, August 28th. B. Riley lifted their price objective on Lam Research from $500.00 to $650.00 in a research note on Monday, July 17th. Citigroup lifted their price objective on Lam Research from $695.00 to $800.00 and gave the company a “buy” rating in a research note on Thursday, July 27th. Finally, Sanford C. Bernstein lifted their price objective on Lam Research from $500.00 to $550.00 in a research note on Thursday, July 27th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and an average target price of $583.50.

Lam Research Price Performance

LRCX stock opened at $635.65 on Tuesday. The company has a quick ratio of 2.01, a current ratio of 3.16 and a debt-to-equity ratio of 0.61. Lam Research Co. has a 52-week low of $299.59 and a 52-week high of $726.53. The stock’s 50 day moving average is $667.37 and its two-hundred day moving average is $593.10. The company has a market capitalization of $84.23 billion, a PE ratio of 19.18, a P/E/G ratio of 3.95 and a beta of 1.49.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $5.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.03 by $0.95. Lam Research had a return on equity of 57.40% and a net margin of 25.88%. The company had revenue of $3.21 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the previous year, the business earned $8.83 EPS. Lam Research’s revenue for the quarter was down 30.8% compared to the same quarter last year. Analysts predict that Lam Research Co. will post 26.82 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be issued a $0.275 dividend. The ex-dividend date is Tuesday, September 12th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.17%. Lam Research’s dividend payout ratio (DPR) is 24.14%.

Insider Activity

In other news, Director Abhijit Y. Talwalkar sold 882 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $642.86, for a total value of $567,002.52. Following the completion of the sale, the director now directly owns 12,999 shares in the company, valued at approximately $8,356,537.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Vahid Vahedi sold 13,756 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $717.46, for a total transaction of $9,869,379.76. Following the completion of the transaction, the senior vice president now directly owns 26,483 shares in the company, valued at approximately $19,000,493.18. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Abhijit Y. Talwalkar sold 882 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $642.86, for a total value of $567,002.52. Following the transaction, the director now owns 12,999 shares of the company’s stock, valued at $8,356,537.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,159 shares of company stock worth $12,926,580. 0.35% of the stock is currently owned by insiders.

Lam Research 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.