Harfst & Associates Inc. Has $1.76 Million Stock Position in Lam Research Co. (NASDAQ:LRCX)

Harfst & Associates Inc. grew its stake in Lam Research Co. (NASDAQ:LRCX) by 1.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,650 shares of the semiconductor company’s stock after buying an additional 22 shares during the quarter. Harfst & Associates Inc.’s holdings in Lam Research were worth $1,757,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. CarsonAllaria Wealth Management Ltd. acquired a new position in Lam Research in the 2nd quarter worth $32,000. RFP Financial Group LLC lifted its holdings in shares of Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 12 shares in the last quarter. DSM Capital Partners LLC acquired a new position in shares of Lam Research during the fourth quarter worth about $28,000. Hobbs Group Advisors LLC bought a new position in shares of Lam Research during the second quarter worth about $40,000. Finally, Partnership Wealth Management LLC acquired a new stake in Lam Research in the 4th quarter valued at approximately $33,000. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

LRCX has been the subject of a number of recent research reports. Jefferies Financial Group began coverage on Lam Research in a research report on Monday, May 13th. They set a “buy” rating and a $1,100.00 price target for the company. B. Riley increased their target price on shares of Lam Research from $1,130.00 to $1,325.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Deutsche Bank Aktiengesellschaft lowered their price target 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,130.00 target price on shares of Lam Research in a research report on Thursday, August 1st. Finally, Barclays raised their target price on shares of Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 5th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $1,006.10.

Insider Buying and Selling

In other news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the sale, the chief accounting officer now directly owns 4,914 shares in the company, valued at $5,219,945.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction 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 transaction, the chief accounting officer now owns 4,914 shares in the company, valued at $5,219,945.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Neil J. Fernandes sold 4,409 shares of the stock in a transaction 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 disclosure for this sale can be found here. Insiders have sold 16,326 shares of company stock worth $17,383,715 in the last 90 days. Insiders own 0.32% of the company’s stock.

Lam Research Price Performance

Shares of NASDAQ:LRCX traded up $23.69 during midday trading on Monday, hitting $821.01. The stock had a trading volume of 1,242,900 shares, compared to its average volume of 1,073,411. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $107.34 billion, a P/E ratio of 30.20, a price-to-earnings-growth ratio of 1.58 and a beta of 1.48. The company’s 50-day moving average price is $929.97 and its 200-day moving average price is $943.74. Lam Research Co. has a fifty-two week low of $574.42 and a fifty-two week high of $1,130.00.

Shares of Lam Research are going to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly created shares will be distributed to shareholders after the market closes on Wednesday, October 2nd.

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

Lam Research Increases Dividend

The company also recently declared 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 represents a $9.20 dividend on an annualized basis and a dividend yield of 1.12%. This is a boost from Lam Research’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Tuesday, September 17th. Lam Research’s dividend payout ratio is presently 33.84%.

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

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.