ICA Group Wealth Management LLC Has $64,000 Position in Lam Research Co. (NASDAQ:LRCX)

ICA Group Wealth Management LLC lowered its holdings in Lam Research Co. (NASDAQ:LRCX) by 88.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60 shares of the semiconductor company’s stock after selling 449 shares during the quarter. ICA Group Wealth Management LLC’s holdings in Lam Research were worth $64,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of LRCX. DSM Capital Partners LLC acquired a new stake in Lam Research in the 4th quarter valued at $28,000. CarsonAllaria Wealth Management Ltd. acquired a new stake in Lam Research in the 2nd quarter valued at $32,000. RFP Financial Group LLC grew its position in Lam Research by 52.2% in the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 12 shares during the period. Raleigh Capital Management Inc. grew its position in Lam Research by 78.6% in the 4th quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 22 shares during the period. Finally, Hobbs Group Advisors LLC purchased a new position in Lam Research during the 2nd quarter worth $40,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

LRCX has been the topic of a number of analyst reports. B. Riley lifted their price objective on shares of Lam Research from $1,130.00 to $1,325.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Lam Research from $1,100.00 to $950.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $1,200.00 price objective on shares of Lam Research in a report on Thursday, August 1st. Citigroup cut their price objective on shares of Lam Research from $1,025.00 to $990.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Finally, StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,015.63.

Lam Research Trading Up 2.9 %

Shares of Lam Research stock opened at $769.72 on Monday. Lam Research Co. has a 52-week low of $574.42 and a 52-week high of $1,130.00. The stock’s 50-day simple moving average is $868.98 and its 200 day simple moving average is $932.18. The stock has a market capitalization of $100.63 billion, a P/E ratio of 28.31, a P/E/G ratio of 1.48 and a beta of 1.48. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97.

Shares of Lam Research are going to split on the morning of 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 earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share for the quarter, beating analysts’ consensus estimates of $7.58 by $0.56. The business had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.98 EPS. As a group, research analysts anticipate that Lam Research Co. will post 35.2 EPS for the current year.

Lam Research Increases Dividend

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

Lam Research announced that its Board of Directors has initiated a stock buyback program on Tuesday, May 21st that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to buy up to 8.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Lam Research

In other news, CEO Timothy Archer sold 9,650 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $1,070.39, for a total transaction of $10,329,263.50. Following the completion of the transaction, the chief executive officer now owns 84,639 shares of the company’s stock, valued at $90,596,739.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Timothy Archer sold 9,650 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $1,070.39, for a total transaction of $10,329,263.50. Following the completion of the transaction, the chief executive officer now owns 84,639 shares of the company’s stock, valued at $90,596,739.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Neil J. Fernandes sold 4,409 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total value of $4,654,845.84. Following the transaction, the senior vice president now directly owns 6,857 shares of the company’s stock, valued at approximately $7,239,346.32. The disclosure for this sale can be found here. Insiders sold 16,326 shares of company stock valued at $17,383,715 in the last quarter. 0.32% of the stock is currently owned by corporate 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.