Kwmg LLC Grows Stake in Lam Research Co. (NASDAQ:LRCX)

Kwmg LLC grew its holdings in Lam Research Co. (NASDAQ:LRCX) by 2.9% during the second quarter, HoldingsChannel reports. The fund owned 9,767 shares of the semiconductor company’s stock after purchasing an additional 271 shares during the period. Kwmg LLC’s holdings in Lam Research were worth $6,279,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Baird Financial Group Inc. grew its stake in Lam Research by 25.4% during the 4th quarter. Baird Financial Group Inc. now owns 45,921 shares of the semiconductor company’s stock worth $19,301,000 after buying an additional 9,291 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its stake in Lam Research by 12.6% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 26,813 shares of the semiconductor company’s stock worth $14,214,000 after buying an additional 2,990 shares during the last quarter. WD Rutherford LLC lifted its position in Lam Research by 9.1% during the 1st quarter. WD Rutherford LLC now owns 1,195 shares of the semiconductor company’s stock worth $633,000 after acquiring an additional 100 shares during the period. Nordea Investment Management AB lifted its position in Lam Research by 0.4% during the 2nd quarter. Nordea Investment Management AB now owns 411,970 shares of the semiconductor company’s stock worth $266,108,000 after acquiring an additional 1,475 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Lam Research by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 245,136 shares of the semiconductor company’s stock worth $129,951,000 after acquiring an additional 2,982 shares during the period. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Insider Activity

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

Analyst Ratings Changes

LRCX has been the subject of a number of recent research reports. B. Riley increased their price objective on Lam Research from $500.00 to $650.00 in a research report on Monday, July 17th. Sanford C. Bernstein raised their price target on Lam Research from $500.00 to $550.00 in a report on Thursday, July 27th. Wolfe Research initiated coverage on Lam Research in a report on Thursday. They issued an “outperform” rating and a $825.00 price target for the company. Susquehanna raised their price target on Lam Research from $540.00 to $615.00 in a report on Thursday, July 27th. Finally, Stifel Nicolaus raised their price target on Lam Research from $725.00 to $750.00 and gave the company a “buy” rating in a report on Monday, August 28th. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $583.50.

Lam Research Price Performance

Lam Research stock traded down $33.32 during mid-day trading on Friday, hitting $623.11. 3,161,300 shares of the company were exchanged, compared to its average volume of 1,265,945. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.16 and a quick ratio of 2.01. The business’s 50 day simple moving average is $667.27 and its two-hundred day simple moving average is $590.67. The company has a market capitalization of $82.57 billion, a P/E ratio of 18.80, a PEG ratio of 3.97 and a beta of 1.49. Lam Research Co. has a 12-month low of $299.59 and a 12-month high of $726.53.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $5.98 earnings per share for the quarter, topping the consensus estimate of $5.03 by $0.95. The company had revenue of $3.21 billion during the quarter, compared to the consensus estimate 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 was down 30.8% compared to the same quarter last year. During the same quarter last year, the business posted $8.83 earnings per share. Analysts forecast that Lam Research Co. will post 26.82 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date of this dividend is Tuesday, September 12th. Lam Research’s dividend payout ratio is currently 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.