Summit Financial LLC Raises Stock Position in Lam Research Co. (NASDAQ:LRCX)

Summit Financial LLC boosted its position in Lam Research Co. (NASDAQ:LRCX) by 882.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,165 shares of the semiconductor company’s stock after purchasing an additional 7,334 shares during the quarter. Summit Financial LLC’s holdings in Lam Research were worth $592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of LRCX. Vanguard Group Inc. raised its position in shares of Lam Research by 892.7% in the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock worth $8,724,498,000 after buying an additional 108,619,564 shares in the last quarter. Norges Bank bought a new position in Lam Research in the 4th quarter worth about $1,661,672,000. Fisher Asset Management LLC raised its holdings in shares of Lam Research by 892.7% in the 4th quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company’s stock valued at $1,341,902,000 after acquiring an additional 16,706,708 shares in the last quarter. Amundi boosted its position in shares of Lam Research by 7,601.9% during the 4th quarter. Amundi now owns 12,945,172 shares of the semiconductor company’s stock valued at $990,464,000 after acquiring an additional 12,777,094 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Lam Research by 860.4% during the fourth quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company’s stock worth $851,361,000 after purchasing an additional 10,559,508 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the transaction, the senior vice president now owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group dropped their target price on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Barclays cut their target price on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Needham & Company LLC restated a “buy” rating and set a $90.00 price target on shares of Lam Research in a research report on Thursday, January 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $100.00 price objective on shares of Lam Research in a report on Tuesday, February 18th. Finally, Susquehanna raised Lam Research from a “neutral” rating to a “positive” rating and raised their price objective for the company from $75.00 to $125.00 in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $97.59.

Lam Research Price Performance

LRCX opened at $73.78 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The stock has a market capitalization of $94.71 billion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. The stock’s 50 day moving average price is $78.99 and its 200-day moving average price is $77.28. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. On average, equities research analysts predict that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.25%. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

Lam Research Company 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.