Perigon Wealth Management LLC acquired a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,328 shares of the semiconductor company’s stock, valued at approximately $430,000.
Several other large investors have also added to or reduced their stakes in the company. Atticus Wealth Management LLC purchased a new position in shares of Lam Research during the 1st quarter worth approximately $26,000. Ameritas Investment Company LLC increased its position in Lam Research by 900.0% during the first quarter. Ameritas Investment Company LLC now owns 110 shares of the semiconductor company’s stock worth $26,000 after buying an additional 99 shares in the last quarter. Shine Investment Advisory Services Inc. boosted its holdings in shares of Lam Research by 371.0% during the first quarter. Shine Investment Advisory Services Inc. now owns 146 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 115 shares during the last quarter. OmniStar Financial Group Inc. acquired a new stake in shares of Lam Research during the first quarter worth $47,000. Finally, Reitz Capital Advisors LLC acquired a new stake in shares of Lam Research during the second quarter worth $47,000. 85.05% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on the company. DA Davidson lifted their target price on Lam Research from $270.00 to $370.00 and gave the company a “neutral” rating in a report on Thursday. Morgan Stanley lifted their target price on Lam Research from $334.00 to $415.00 and gave the stock an “overweight” rating in a research report on Thursday. Mizuho boosted their price objective on Lam Research from $385.00 to $400.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Co boosted their price objective on Lam Research from $270.00 to $370.00 in a report on Thursday. Finally, JPMorgan Chase & Co. decreased their target price on Lam Research from $340.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Six equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $370.35.
In related news, SVP Kevin Jennings sold 12,059 shares of the company’s stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $335.55, for a total transaction of $4,046,397.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Vahid Vahedi sold 10,688 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $330.00, for a total transaction of $3,527,040.00. The disclosure for this sale can be found here. Insiders sold a total of 33,466 shares of company stock valued at $11,250,054 over the last 90 days. Corporate insiders own 0.43% of the company’s stock.
NASDAQ LRCX opened at $377.16 on Friday. The firm has a 50-day moving average price of $327.42 and a two-hundred day moving average price of $289.35. The company has a market capitalization of $54.75 billion, a P/E ratio of 23.65, a P/E/G ratio of 1.72 and a beta of 1.35. The company has a quick ratio of 3.67, a current ratio of 3.43 and a debt-to-equity ratio of 0.96. Lam Research Co. has a 12-month low of $181.38 and a 12-month high of $381.48.
Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, July 29th. The semiconductor company reported $4.78 EPS for the quarter, beating the consensus estimate of $4.20 by $0.58. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.68 billion. Lam Research had a net margin of 22.42% and a return on equity of 49.72%. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period in the previous year, the company earned $3.62 EPS. Equities analysts expect that Lam Research Co. will post 18.13 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Wednesday, June 17th were given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Tuesday, June 16th.
About Lam Research
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.
Read More: Margin
Want to see what other hedge funds are holding LRCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lam Research Co. (NASDAQ:LRCX).
Receive News & Ratings for Lam Research Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lam Research and related companies with MarketBeat.com's FREE daily email newsletter.