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

Angeles Investment Advisors LLC decreased its holdings in Lam Research Co. (NASDAQ:LRCX) by 23.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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.

Other large investors also recently added to or reduced their stakes in the company. Cypress Capital Group boosted its stake in shares of Lam Research by 23.1% during the 2nd quarter. Cypress Capital Group now owns 3,528 shares of the semiconductor company’s stock worth $3,757,000 after acquiring an additional 661 shares during the last quarter. Brookstone Capital Management lifted its position in Lam Research by 142.6% during the second quarter. Brookstone Capital Management now owns 1,601 shares of the semiconductor company’s stock valued at $1,705,000 after purchasing an additional 941 shares in the last quarter. Meeder Advisory Services Inc. grew its holdings in Lam Research by 29.4% during the second quarter. Meeder Advisory Services Inc. now owns 3,022 shares of the semiconductor company’s stock valued at $3,218,000 after purchasing an additional 686 shares during the period. FineMark National Bank & Trust increased its position in Lam Research by 14.5% in the second quarter. FineMark National Bank & Trust now owns 474 shares of the semiconductor company’s stock worth $505,000 after buying an additional 60 shares in the last quarter. Finally, Foundations Investment Advisors LLC lifted its position in shares of Lam Research by 534.3% during the 2nd quarter. Foundations Investment Advisors LLC now owns 5,569 shares of the semiconductor company’s stock valued at $5,930,000 after buying an additional 4,691 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LRCX has been the topic of a number of recent analyst reports. Cantor Fitzgerald restated a “neutral” rating and set a $1,200.00 target price on shares of Lam Research in a research note on Thursday, August 1st. Wells Fargo & Company lowered their target price on shares of Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. Raymond James increased their price target on Lam Research from $950.00 to $1,060.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Deutsche Bank Aktiengesellschaft lowered their price objective on Lam Research from $1,100.00 to $950.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Finally, Citigroup dropped their price objective on Lam Research from $1,025.00 to $990.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,015.63.

Insider Buying and Selling

In other Lam Research news, SVP Neil J. Fernandes sold 1,620 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $1,056.99, for a total value of $1,712,323.80. Following the completion of the sale, the senior vice president now directly owns 5,237 shares of the company’s stock, valued at approximately $5,535,456.63. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, SVP Neil J. Fernandes sold 1,620 shares of Lam Research stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $1,056.99, for a total transaction of $1,712,323.80. Following the completion of the sale, the senior vice president now owns 5,237 shares of the company’s stock, valued at $5,535,456.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Neil J. Fernandes sold 4,409 shares of Lam Research stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total value of $4,654,845.84. Following the completion of the transaction, the senior vice president now owns 6,857 shares in the company, valued at approximately $7,239,346.32. The disclosure for this sale can be found here. Insiders have sold 16,326 shares of company stock valued at $17,383,715 in the last 90 days. Company insiders own 0.32% of the company’s stock.

Lam Research Stock Performance

Shares of NASDAQ:LRCX opened at $769.72 on Monday. The firm has a fifty day simple moving average of $868.98 and a two-hundred day simple moving average of $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. The stock has a market capitalization of $100.63 billion, a P/E ratio of 28.31, a PEG ratio of 1.48 and a beta of 1.48.

Shares of Lam Research are set to split before the market opens on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly created shares will be payable to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $8.14 EPS for the quarter, topping 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 analyst estimates of $3.82 billion. During the same period in the previous year, the firm earned $5.98 earnings per share. Lam Research’s quarterly revenue was up 20.7% compared to the same quarter last year. On average, analysts expect that Lam Research Co. will post 35.2 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be paid a dividend of $2.30 per share. This is a positive change from Lam Research’s previous quarterly dividend of $2.00. This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Tuesday, September 17th. Lam Research’s payout ratio is currently 33.84%.

Lam Research announced that its Board of Directors has authorized a stock buyback plan on Tuesday, May 21st that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to repurchase up to 8.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

About Lam Research

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.