Toroso Investments LLC Grows Position in Lam Research Co. (NASDAQ:LRCX)

Toroso Investments LLC increased its position in Lam Research Co. (NASDAQ:LRCX) by 92.1% in the second quarter, HoldingsChannel reports. The firm owned 2,188 shares of the semiconductor company’s stock after purchasing an additional 1,049 shares during the quarter. Toroso Investments LLC’s holdings in Lam Research were worth $1,424,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Analysts LLC purchased a new position in shares of Lam Research in the 1st quarter valued at approximately $32,000. Evoke Wealth LLC increased its position in Lam Research by 150.0% during the 1st quarter. Evoke Wealth LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 36 shares in the last quarter. Gemmer Asset Management LLC increased its position in Lam Research by 39.0% during the 2nd quarter. Gemmer Asset Management LLC now owns 57 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 16 shares in the last quarter. Harbour Investments Inc. bought a new stake in shares of Lam Research in the 1st quarter worth $38,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in shares of Lam Research by 54.3% in the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 71 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 25 shares in the last quarter. Institutional investors own 81.32% of the company’s stock.

Lam Research stock opened at $544.41 on Thursday. The business has a fifty day moving average of $590.59 and a two-hundred day moving average of $615.02. The company has a quick ratio of 2.54, a current ratio of 3.30 and a debt-to-equity ratio of 0.83. The firm has a market cap of $77.28 billion, a P/E ratio of 20.21, a P/E/G ratio of 1.05 and a beta of 1.24. Lam Research Co. has a twelve month low of $333.31 and a twelve month high of $673.80.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, July 28th. The semiconductor company reported $8.09 earnings per share for the quarter, topping analysts’ consensus estimates of $7.53 by $0.56. The company had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4 billion. Lam Research had a return on equity of 70.92% and a net margin of 26.72%. During the same quarter in the prior year, the business earned $4.78 earnings per share. Equities analysts expect that Lam Research Co. will post 33.45 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 13th. Shareholders of record on Tuesday, September 28th were issued a dividend of $1.50 per share. The ex-dividend date was Monday, September 27th. This represents a $6.00 dividend on an annualized basis and a yield of 1.10%. This is a positive change from Lam Research’s previous quarterly dividend of $1.30. Lam Research’s dividend payout ratio is currently 22.03%.

In other news, SVP Scott Gerald Meikle sold 500 shares of the stock in a transaction on Wednesday, September 15th. The stock was sold at an average price of $603.79, for a total transaction of $301,895.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy Archer sold 4,464 shares of the stock in a transaction on Friday, August 27th. The shares were sold at an average price of $600.00, for a total value of $2,678,400.00. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

Several equities analysts recently weighed in on LRCX shares. BNP Paribas downgraded Lam Research from an “outperform” rating to a “neutral” rating and set a $640.00 target price on the stock. in a research report on Tuesday, September 7th. Susquehanna Bancshares cut Lam Research from a “positive” rating to a “neutral” rating and reduced their price objective for the stock from $750.00 to $690.00 in a research note on Tuesday, September 14th. Zacks Investment Research cut Lam Research from a “buy” rating to a “hold” rating and set a $653.00 price objective on the stock. in a research note on Wednesday, June 23rd. Needham & Company LLC reissued a “hold” rating on shares of Lam Research in a research note on Thursday, July 29th. Finally, Exane BNP Paribas cut Lam Research from an “outperform” rating to a “neutral” rating and set a $640.00 target price on the stock. in a research note on Tuesday, September 7th. Nine analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Lam Research presently has an average rating of “Buy” and a consensus target price of $702.83.

About Lam Research

Lam Research Corp. engages in manufacturing and servicing of wafer processing semiconductor manufacturing equipment. It operates through the following geographical segments: the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. It offers thin film deposition, plasma etch, photoresist strip, and wafer cleaning.

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

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