Moors & Cabot Inc. Purchases 95 Shares of Lam Research Co. (NASDAQ:LRCX)

Moors & Cabot Inc. raised its position in Lam Research Co. (NASDAQ:LRCX) by 4.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 2,492 shares of the semiconductor company’s stock after buying an additional 95 shares during the quarter. Moors & Cabot Inc.’s holdings in Lam Research were worth $2,654,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Excalibur Management Corp bought a new stake in Lam Research during the 2nd quarter worth about $225,000. Renaissance Technologies LLC acquired a new stake in shares of Lam Research in the second quarter valued at about $48,297,000. Citizens Financial Group Inc. RI raised its holdings in Lam Research by 136.5% during the second quarter. Citizens Financial Group Inc. RI now owns 1,102 shares of the semiconductor company’s stock worth $1,173,000 after acquiring an additional 636 shares in the last quarter. Quantbot Technologies LP boosted its position in Lam Research by 88.4% during the second quarter. Quantbot Technologies LP now owns 10,042 shares of the semiconductor company’s stock valued at $10,693,000 after purchasing an additional 4,711 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Lam Research by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company’s stock valued at $654,009,000 after purchasing an additional 25,362 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Transactions at Lam Research

In related news, SVP Neil J. Fernandes sold 1,620 shares of the company’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the completion of the transaction, the chief accounting officer now owns 4,914 shares of the company’s stock, valued at approximately $5,219,945.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Neil J. Fernandes sold 1,620 shares of the firm’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 in the company, valued at $5,535,456.63. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,326 shares of company stock valued at $17,383,715. 0.32% of the stock is owned by corporate insiders.

Lam Research Trading Up 1.3 %

Shares of Lam Research stock opened at $766.04 on Wednesday. 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 cap of $100.15 billion, a PE ratio of 28.17, a PEG ratio of 1.48 and a beta of 1.48. The firm has a 50-day moving average of $855.19 and a 200-day moving average of $929.39. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97.

Lam Research’s stock is scheduled 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 distributed to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.58 by $0.56. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same quarter in the prior year, the business posted $5.98 EPS. The business’s revenue was up 20.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Lam Research Co. will post 35.2 EPS for the current year.

Lam Research declared that its board has approved a share repurchase program on Tuesday, May 21st that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 8.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

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 given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.20%. This is an increase from Lam Research’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Tuesday, September 17th. Lam Research’s dividend payout ratio is presently 33.84%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on LRCX shares. B. Riley increased their price objective on Lam Research from $1,130.00 to $1,325.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Needham & Company LLC reissued a “buy” rating and issued a $1,130.00 price objective on shares of Lam Research in a research report on Thursday, August 1st. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $1,200.00 target price on shares of Lam Research in a report on Thursday, August 1st. Citigroup reduced their price target on Lam Research from $990.00 to $893.00 and set a “buy” rating for the company in a report on Monday. Finally, StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and a consensus target price of $1,013.37.

Lam Research Company 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.