Acadian Asset Management LLC Has $102.98 Million Holdings in Lam Research Co. (NASDAQ:LRCX)

Acadian Asset Management LLC increased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 1,128.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 96,723 shares of the semiconductor company’s stock after acquiring an additional 88,847 shares during the period. Acadian Asset Management LLC owned 0.07% of Lam Research worth $102,976,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in LRCX. Vanguard Group Inc. lifted its stake in shares of Lam Research by 1.2% in the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock worth $11,519,576,000 after buying an additional 144,914 shares during the last quarter. Fisher Asset Management LLC raised its holdings in Lam Research by 3.0% in the 4th quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock worth $2,329,037,000 after acquiring an additional 86,721 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Lam Research by 5.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock valued at $2,875,023,000 after acquiring an additional 142,903 shares during the period. Norges Bank bought a new stake in Lam Research during the fourth quarter valued at about $1,414,111,000. Finally, Van ECK Associates Corp increased its stake in shares of Lam Research by 11.1% in the second quarter. Van ECK Associates Corp now owns 1,075,893 shares of the semiconductor company’s stock worth $1,145,664,000 after purchasing an additional 107,778 shares during the period. 84.61% of the stock is owned by institutional investors.

Lam Research Price Performance

Shares of Lam Research stock opened at $733.83 on Friday. Lam Research Co. has a 1-year low of $574.42 and a 1-year high of $1,130.00. The firm’s 50-day moving average price is $901.71 and its two-hundred day moving average price is $938.36. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $95.94 billion, a price-to-earnings ratio of 26.99, a P/E/G ratio of 1.58 and a beta of 1.48.

Lam Research shares are set to split before the market opens on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly issued shares will be distributed to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.58 by $0.56. The firm had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.98 EPS. On average, equities analysts predict that Lam Research Co. will post 35.2 earnings per share for the current fiscal year.

Lam Research declared that its board has initiated a stock buyback program on Tuesday, May 21st that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 8.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership 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. Shareholders of record on Tuesday, September 17th will be paid a $2.30 dividend. The ex-dividend date is Tuesday, September 17th. This is an increase from Lam Research’s previous quarterly dividend of $2.00. This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.25%. Lam Research’s payout ratio is currently 33.84%.

Insider Transactions at Lam Research

In related news, SVP Neil J. Fernandes sold 4,409 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total value of $4,654,845.84. Following the completion of the sale, the senior vice president now owns 6,857 shares of the company’s stock, valued at $7,239,346.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Timothy Archer sold 9,650 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $1,070.39, for a total transaction of $10,329,263.50. Following the completion of the sale, the chief executive officer now directly owns 84,639 shares of the company’s stock, valued at $90,596,739.21. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Neil J. Fernandes sold 4,409 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the completion of the transaction, the senior vice president now directly owns 6,857 shares in the company, valued at $7,239,346.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,326 shares of company stock worth $17,383,715. Corporate insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Cantor Fitzgerald restated a “neutral” rating and set a $1,200.00 target price on shares of Lam Research in a research note on Thursday, August 1st. Wells Fargo & Company dropped their target price on shares of Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Lam Research from $1,100.00 to $950.00 and set a “buy” rating for the company in a report on Thursday, August 1st. StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Finally, B. Riley increased their target price on shares of Lam Research from $1,130.00 to $1,325.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,006.10.

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.