Summit Financial LLC Purchases Shares of 300 Lam Research Co. (NASDAQ:LRCX)

Summit Financial LLC bought a new stake in Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 300 shares of the semiconductor company’s stock, valued at approximately $236,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Independent Advisor Alliance lifted its holdings in Lam Research by 8.0% in the third quarter. Independent Advisor Alliance now owns 1,885 shares of the semiconductor company’s stock valued at $1,182,000 after buying an additional 140 shares during the period. Brown Advisory Inc. boosted its position in shares of Lam Research by 1.9% during the 3rd quarter. Brown Advisory Inc. now owns 4,357 shares of the semiconductor company’s stock valued at $2,731,000 after purchasing an additional 82 shares in the last quarter. Groesbeck Investment Management Corp NJ increased its holdings in Lam Research by 1.3% in the third quarter. Groesbeck Investment Management Corp NJ now owns 4,404 shares of the semiconductor company’s stock worth $2,760,000 after purchasing an additional 56 shares in the last quarter. Geneva Partners LLC lifted its stake in Lam Research by 68.6% in the third quarter. Geneva Partners LLC now owns 2,224 shares of the semiconductor company’s stock valued at $1,394,000 after buying an additional 905 shares during the period. Finally, Sage Mountain Advisors LLC increased its stake in shares of Lam Research by 13.3% in the 3rd quarter. Sage Mountain Advisors LLC now owns 502 shares of the semiconductor company’s stock valued at $315,000 after acquiring an additional 59 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on LRCX shares. Needham & Company LLC reissued a “buy” rating and set a $1,030.00 target price on shares of Lam Research in a research note on Thursday, April 25th. UBS Group raised their target price on Lam Research from $1,130.00 to $1,150.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. TD Cowen increased their price target on Lam Research from $975.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Cantor Fitzgerald restated a “neutral” rating and set a $1,100.00 price objective on shares of Lam Research in a report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Lam Research in a report on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and an average price target of $950.85.

Lam Research Stock Performance

NASDAQ LRCX opened at $908.53 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.84 and a current ratio of 2.82. The company has a market capitalization of $119.11 billion, a PE ratio of 33.41, a price-to-earnings-growth ratio of 2.74 and a beta of 1.51. Lam Research Co. has a 52-week low of $507.19 and a 52-week high of $1,007.39. The company has a 50-day simple moving average of $941.71 and a 200 day simple moving average of $816.04.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53. The business had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business posted $6.99 EPS. On average, research analysts predict that Lam Research Co. will post 29.62 EPS for the current year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Investors 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 is 29.42%.

Insider Buying and Selling at Lam Research

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Patrick J. Lord sold 60 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $921.54, for a total transaction of $55,292.40. Following the completion of the transaction, the executive vice president now directly owns 4,454 shares in the company, valued at approximately $4,104,539.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction 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 completion of the sale, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. Insiders have sold 7,089 shares of company stock valued at $6,614,781 in the last 90 days. 0.32% of the stock is currently owned by company insiders.

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.