Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Summit Global Investments

Summit Global Investments raised its position in shares of Lam Research Co. (NASDAQ:LRCX) by 7.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,567 shares of the semiconductor company’s stock after purchasing an additional 110 shares during the period. Summit Global Investments’ holdings in Lam Research were worth $1,227,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC increased its holdings in shares of Lam Research by 76,165.7% during the fourth quarter. International Assets Investment Management LLC now owns 318,028 shares of the semiconductor company’s stock valued at $249,099,000 after purchasing an additional 317,611 shares during the period. Cerity Partners LLC lifted its position in Lam Research by 1,125.6% in the fourth quarter. Cerity Partners LLC now owns 342,139 shares of the semiconductor company’s stock worth $267,984,000 after purchasing an additional 314,224 shares during the period. Canada Pension Plan Investment Board boosted its stake in Lam Research by 106.5% during the 3rd quarter. Canada Pension Plan Investment Board now owns 301,071 shares of the semiconductor company’s stock valued at $188,702,000 after purchasing an additional 155,240 shares in the last quarter. Northern Trust Corp increased its position in shares of Lam Research by 9.7% during the 3rd quarter. Northern Trust Corp now owns 1,523,215 shares of the semiconductor company’s stock valued at $954,705,000 after purchasing an additional 134,558 shares during the period. Finally, Fisher Asset Management LLC raised its stake in shares of Lam Research by 3.0% in the 4th quarter. Fisher Asset Management LLC now owns 2,972,650 shares of the semiconductor company’s stock worth $2,328,358,000 after buying an additional 85,855 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Up 2.8 %

Shares of LRCX traded up $24.85 during trading hours on Friday, reaching $908.53. The company’s stock had a trading volume of 875,385 shares, compared to its average volume of 1,105,338. The company has a quick ratio of 1.84, a current ratio of 2.82 and a debt-to-equity ratio of 0.56. The firm has a market cap of $119.11 billion, a price-to-earnings ratio of 33.41, a P/E/G ratio of 2.74 and a beta of 1.51. The company has a 50 day moving average of $941.71 and a two-hundred day moving average of $816.04. Lam Research Co. has a 1-year low of $507.19 and a 1-year high of $1,007.39.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The company had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the prior year, the firm earned $6.99 EPS. The company’s revenue was down 2.0% compared to the same quarter last year. As a group, research analysts predict that Lam Research Co. will post 29.62 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were paid a $2.00 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a yield of 0.88%. Lam Research’s dividend payout ratio (DPR) is currently 29.42%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. TD Cowen lifted their target price on Lam Research from $975.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Citigroup boosted their target price on shares of Lam Research from $975.00 to $1,025.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. The Goldman Sachs Group raised their target price on shares of Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. UBS Group upped their price target on Lam Research from $1,130.00 to $1,150.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Finally, Wells Fargo & Company raised their price objective on Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and an average price target of $950.85.

Insider Transactions at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the sale, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Abhijit Y. Talwalkar sold 882 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the completion of the sale, the director now directly owns 10,541 shares in the company, valued at approximately $10,246,168.23. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the sale, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. Insiders sold 7,089 shares of company stock valued at $6,614,781 in the last three months. Corporate insiders own 0.32% of the company’s stock.

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.