Park Edge Advisors LLC Buys New Shares in Lam Research Co. (NASDAQ:LRCX)

Park Edge Advisors LLC bought a new stake in shares of Lam Research Co. (NASDAQ:LRCX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 464 shares of the semiconductor company’s stock, valued at approximately $494,000.

A number of other large investors have also added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Lam Research during the 2nd quarter valued at about $32,000. RFP Financial Group LLC boosted its stake in shares of Lam Research by 52.2% during the 2nd 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 bought a new stake in shares of Lam Research during the 4th quarter valued at about $28,000. Hobbs Group Advisors LLC bought a new stake in Lam Research during the second quarter worth about $40,000. Finally, Partnership Wealth Management LLC bought a new stake in Lam Research during the fourth quarter worth about $33,000. Institutional investors own 84.61% of the company’s stock.

Insider Activity

In related news, SVP Neil J. Fernandes sold 4,409 shares of Lam Research stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the completion of the sale, the senior vice president now owns 6,857 shares in the company, valued at approximately $7,239,346.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Lam Research news, CEO Timothy Archer sold 9,650 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $1,070.39, for a total value of $10,329,263.50. Following the sale, the chief executive officer now directly owns 84,639 shares of the company’s stock, valued at approximately $90,596,739.21. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Neil J. Fernandes sold 4,409 shares of Lam Research stock in a transaction dated 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 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. Insiders sold a total of 16,326 shares of company stock worth $17,383,715 over the last 90 days. 0.32% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on LRCX shares. Raymond James upped their target price on shares of Lam Research from $950.00 to $1,060.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Needham & Company LLC reissued a “buy” rating and set a $1,130.00 price objective on shares of Lam Research in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft reduced their target price 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. Wells Fargo & Company reduced their target price on shares of Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. Finally, Jefferies Financial Group assumed coverage on shares of Lam Research in a research report on Monday, May 13th. They issued a “buy” rating and a $1,100.00 price target for the company. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,006.10.

Lam Research Stock Up 0.2 %

Shares of LRCX stock traded up $1.53 during trading hours on Tuesday, reaching $820.44. 891,033 shares of the stock were exchanged, compared to its average volume of 1,070,743. The business’s fifty day moving average is $950.91 and its two-hundred day moving average is $946.44. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 1.84. Lam Research Co. has a 12-month low of $574.42 and a 12-month high of $1,130.00. The firm has a market capitalization of $107.27 billion, a P/E ratio of 30.17, a P/E/G ratio of 2.41 and a beta of 1.48.

Lam Research’s stock is going to split before the market opens on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly created shares will be issued to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.82 billion. During the same period last year, the company earned $5.98 earnings per share. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. As a group, research analysts expect that Lam Research Co. will post 35.09 EPS for the current fiscal year.

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

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.