Vanguard Personalized Indexing Management LLC Purchases 968 Shares of Lam Research Co. (NASDAQ:LRCX)

Vanguard Personalized Indexing Management LLC grew its position in shares of Lam Research Co. (NASDAQ:LRCX) by 7.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,794 shares of the semiconductor company’s stock after purchasing an additional 968 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Lam Research were worth $15,230,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. DSM Capital Partners LLC bought a new position in Lam Research during the 4th quarter worth approximately $28,000. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Lam Research in the 2nd quarter valued at $32,000. RFP Financial Group LLC increased its stake in shares of 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 acquiring an additional 12 shares in the last quarter. Raleigh Capital Management Inc. increased its stake in shares of 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 acquiring an additional 22 shares in the last quarter. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Lam Research in the 2nd quarter valued at $40,000. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

Shares of LRCX stock opened at $766.04 on Wednesday. The firm has a market cap of $100.15 billion, a price-to-earnings ratio of 28.17, 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. Lam Research Co. has a 52 week low of $574.42 and a 52 week high of $1,130.00. The firm’s 50-day simple moving average is $855.19 and its two-hundred day simple moving average is $929.39.

Lam Research’s stock is set to split on the morning of Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly issued shares will be payable to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last announced 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. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.98 earnings per share. As a group, equities analysts forecast that Lam Research Co. will post 35.2 earnings per share for the current year.

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

Lam Research Increases Dividend

The firm 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 $2.30 dividend. 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. This represents a $9.20 annualized dividend and a dividend yield of 1.20%. Lam Research’s dividend payout ratio (DPR) is presently 33.84%.

Insider Transactions at Lam Research

In other news, CEO Timothy Archer sold 9,650 shares of Lam Research stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $1,070.39, for a total value of $10,329,263.50. Following the completion of the transaction, the chief executive officer now owns 84,639 shares in the company, valued at $90,596,739.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were 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 $5,219,945.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Timothy Archer sold 9,650 shares of the business’s stock in a transaction that occurred on 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 directly owns 84,639 shares of the company’s stock, valued at approximately $90,596,739.21. The disclosure for this sale can be found here. Insiders sold 16,326 shares of company stock worth $17,383,715 over the last quarter. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on LRCX shares. TD Cowen lifted their price objective on shares of Lam Research from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $1,200.00 price objective on shares of Lam Research in a research note on Thursday, August 1st. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft dropped 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 research note on Thursday, August 1st. Finally, Citigroup dropped their price objective on shares of Lam Research from $990.00 to $893.00 and set a “buy” rating on the stock in a research note on Monday. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,013.37.

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.