Prudent Man Advisors LLC Has $1.75 Million Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Prudent Man Advisors LLC trimmed its position in Lam Research Co. (NASDAQ:LRCX) by 1.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,723 shares of the semiconductor company’s stock after selling 29 shares during the quarter. Lam Research makes up 0.7% of Prudent Man Advisors LLC’s portfolio, making the stock its 24th biggest position. Prudent Man Advisors LLC’s holdings in Lam Research were worth $1,751,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Steward Financial Group LLC bought a new stake in Lam Research in the second quarter valued at about $32,000. First Manhattan CO. LLC. increased its stake in shares of Lam Research by 117.2% in the 1st quarter. First Manhattan CO. LLC. now owns 63 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 34 shares during the last quarter. Cornerstone Management Inc. raised its position in shares of Lam Research by 225.0% in the 1st quarter. Cornerstone Management Inc. now owns 65 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 45 shares during the period. Chilton Capital Management LLC bought a new position in Lam Research during the 1st quarter worth approximately $36,000. Finally, Coppell Advisory Solutions Corp. acquired a new position in Lam Research during the fourth quarter valued at approximately $39,000. 84.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on LRCX. StockNews.com started coverage on Lam Research in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Barclays lifted their target price on Lam Research from $575.00 to $600.00 and gave the company an “equal weight” rating in a research report on Thursday, July 27th. Citigroup upped their price target on Lam Research from $695.00 to $800.00 and gave the stock a “buy” rating in a research report on Thursday, July 27th. Evercore ISI lowered their price objective on shares of Lam Research from $750.00 to $700.00 in a report on Thursday, October 5th. Finally, Mizuho raised their target price on shares of Lam Research from $520.00 to $680.00 and gave the company a “buy” rating in a research report on Monday, July 24th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $660.00.

Insider Buying and Selling

In other news, EVP Patrick J. Lord sold 2,832 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $700.00, for a total value of $1,982,400.00. Following the completion of the transaction, the executive vice president now directly owns 9,892 shares in the company, valued at approximately $6,924,400. The sale was disclosed in a 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 Lam Research stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $627.75, for a total value of $553,675.50. Following the transaction, the director now owns 12,117 shares in the company, valued at $7,606,446.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Patrick J. Lord sold 2,832 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $700.00, for a total transaction of $1,982,400.00. Following the completion of the transaction, the executive vice president now directly owns 9,892 shares of the company’s stock, valued at approximately $6,924,400. The disclosure for this sale can be found here. Insiders sold 7,404 shares of company stock valued at $5,057,582 over the last quarter. 0.32% of the stock is owned by company insiders.

Lam Research Stock Performance

LRCX stock traded up $6.27 during mid-day trading on Monday, hitting $706.61. 109,941 shares of the company were exchanged, compared to its average volume of 1,213,862. Lam Research Co. has a 1-year low of $397.06 and a 1-year high of $726.53. The business has a 50 day simple moving average of $633.31 and a 200-day simple moving average of $633.62. The company has a current ratio of 3.06, a quick ratio of 1.94 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $93.12 billion, a PE ratio of 23.81, a price-to-earnings-growth ratio of 4.84 and a beta of 1.52.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, October 18th. The semiconductor company reported $6.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.15 by $0.70. The firm had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.42 billion. Lam Research had a net margin of 25.08% and a return on equity of 50.02%. The business’s revenue was down 31.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $10.42 EPS. On average, equities analysts forecast that Lam Research Co. will post 27.65 earnings per share for the current year.

Lam Research Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Wednesday, December 13th will be paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Tuesday, December 12th. This is an increase from Lam Research’s previous quarterly dividend of $0.28. Lam Research’s payout ratio is 27.20%.

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.