Symmetry Partners LLC Grows Holdings in Lam Research Co. (NASDAQ:LRCX)

Symmetry Partners LLC raised its position in Lam Research Co. (NASDAQ:LRCX) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,828 shares of the semiconductor company’s stock after buying an additional 35 shares during the period. Symmetry Partners LLC’s holdings in Lam Research were worth $2,461,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of LRCX. Baird Financial Group Inc. grew its position in Lam Research by 11.5% during the first quarter. Baird Financial Group Inc. now owns 39,514 shares of the semiconductor company’s stock valued at $21,243,000 after buying an additional 4,090 shares during the period. Zions Bancorporation N.A. increased its stake in shares of Lam Research by 39.1% during the 1st quarter. Zions Bancorporation N.A. now owns 281 shares of the semiconductor company’s stock worth $151,000 after purchasing an additional 79 shares during the last quarter. Brown Brothers Harriman & Co. increased its stake in shares of Lam Research by 18.8% during the 1st quarter. Brown Brothers Harriman & Co. now owns 721 shares of the semiconductor company’s stock worth $388,000 after purchasing an additional 114 shares during the last quarter. Covestor Ltd raised its holdings in shares of Lam Research by 51.9% in the 1st quarter. Covestor Ltd now owns 322 shares of the semiconductor company’s stock worth $173,000 after purchasing an additional 110 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in Lam Research by 11.8% in the first quarter. Mackenzie Financial Corp now owns 233,280 shares of the semiconductor company’s stock valued at $125,414,000 after purchasing an additional 24,636 shares during the last quarter. Institutional investors own 84.08% of the company’s stock.

Insider Activity at Lam Research

In other news, Director Abhijit Y. Talwalkar sold 882 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $642.86, for a total transaction of $567,002.52. Following the transaction, the director now directly owns 12,999 shares of the company’s stock, valued at $8,356,537.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $642.86, for a total transaction of $567,002.52. Following the transaction, the director now directly owns 12,999 shares of the company’s stock, valued at approximately $8,356,537.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Douglas R. Bettinger sold 1,894 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $705.86, for a total transaction of $1,336,898.84. Following the completion of the transaction, the chief financial officer now owns 96,713 shares of the company’s stock, valued at $68,265,838.18. The disclosure for this sale can be found here. Insiders have sold a total of 18,159 shares of company stock worth $12,926,580 in the last 90 days. Company insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

LRCX has been the topic of several research reports. Stifel Nicolaus boosted their target price on Lam Research from $725.00 to $750.00 and gave the company a “buy” rating in a research note on Monday, August 28th. Wells Fargo & Company boosted their price objective on Lam Research from $620.00 to $650.00 in a research note on Thursday, July 27th. Citigroup increased their target price on shares of Lam Research from $695.00 to $800.00 and gave the stock a “buy” rating in a research report on Thursday, July 27th. StockNews.com began coverage on shares of Lam Research in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Barclays upped their price target on shares of Lam Research from $575.00 to $600.00 and gave the company an “equal weight” rating in a research note on Thursday, July 27th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $570.79.

Lam Research Price Performance

Lam Research stock traded down $4.84 during mid-day trading on Thursday, hitting $653.82. 152,555 shares of the company traded hands, compared to its average volume of 1,249,897. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.01 and a current ratio of 3.16. Lam Research Co. has a one year low of $299.59 and a one year high of $726.53. The stock has a market cap of $86.64 billion, a price-to-earnings ratio of 19.88, a price-to-earnings-growth ratio of 4.09 and a beta of 1.49. The stock has a fifty day moving average price of $666.56 and a 200-day moving average price of $590.21.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, July 26th. The semiconductor company reported $5.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.03 by $0.95. The business had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.13 billion. Lam Research had a return on equity of 57.40% and a net margin of 25.88%. Lam Research’s revenue for the quarter was down 30.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.83 earnings per share. On average, equities analysts predict that Lam Research Co. will post 26.75 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be given a dividend of $0.275 per share. The ex-dividend date is Tuesday, September 12th. This represents a $1.10 annualized dividend and a yield of 0.17%. Lam Research’s payout ratio is 24.14%.

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.