Parkside Investments LLC acquired a new position in Lam Research Co. (NASDAQ:LRCX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,500 shares of the semiconductor company’s stock, valued at approximately $470,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Lcnb Corp boosted its holdings in Lam Research by 2.2% in the 2nd quarter. Lcnb Corp now owns 2,306 shares of the semiconductor company’s stock valued at $433,000 after purchasing an additional 50 shares during the period. Cypress Capital LLC boosted its holdings in Lam Research by 1.4% in the 2nd quarter. Cypress Capital LLC now owns 4,126 shares of the semiconductor company’s stock valued at $775,000 after purchasing an additional 56 shares during the period. ETF Managers Group LLC boosted its holdings in Lam Research by 9.0% in the 1st quarter. ETF Managers Group LLC now owns 713 shares of the semiconductor company’s stock valued at $128,000 after purchasing an additional 59 shares during the period. Synovus Financial Corp boosted its holdings in Lam Research by 10.7% in the 1st quarter. Synovus Financial Corp now owns 654 shares of the semiconductor company’s stock valued at $117,000 after purchasing an additional 63 shares during the period. Finally, V Wealth Advisors LLC boosted its holdings in Lam Research by 0.5% in the 2nd quarter. V Wealth Advisors LLC now owns 11,960 shares of the semiconductor company’s stock valued at $2,261,000 after purchasing an additional 65 shares during the period. 86.39% of the stock is owned by institutional investors.
Several research analysts have commented on the stock. Mizuho reissued a “hold” rating on shares of Lam Research in a report on Thursday, April 25th. Needham & Company LLC reissued a “buy” rating and issued a $220.00 price target on shares of Lam Research in a report on Monday, August 5th. KeyCorp raised their price target on shares of Lam Research from $236.00 to $252.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. B. Riley raised shares of Lam Research from a “neutral” rating to a “buy” rating and raised their price target for the company from $170.00 to $235.00 in a report on Monday, April 22nd. Finally, Deutsche Bank raised their price target on shares of Lam Research from $180.00 to $195.00 and gave the company a “hold” rating in a report on Thursday, April 25th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $224.69.
In related news, insider Kevin Jennings sold 1,122 shares of Lam Research stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $210.07, for a total value of $235,698.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Seshasayee Varadarajan sold 20,000 shares of Lam Research stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $200.00, for a total transaction of $4,000,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,109 shares of company stock worth $5,072,969. 0.44% of the stock is owned by corporate insiders.
Shares of Lam Research stock traded up $6.18 on Friday, hitting $205.11. 1,924,900 shares of the company traded hands, compared to its average volume of 1,999,866. The firm’s 50-day simple moving average is $196.88 and its 200 day simple moving average is $187.76. The company has a current ratio of 3.61, a quick ratio of 2.96 and a debt-to-equity ratio of 0.82. The company has a market cap of $29.76 billion, a P/E ratio of 14.10, a P/E/G ratio of 1.22 and a beta of 1.61. Lam Research Co. has a 12-month low of $122.64 and a 12-month high of $218.49.
Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $3.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.40 by $0.22. The firm had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Lam Research had a net margin of 22.70% and a return on equity of 43.82%. The business’s quarterly revenue was down 24.5% on a year-over-year basis. During the same quarter last year, the company posted $5.31 EPS. Analysts predict that Lam Research Co. will post 13.57 earnings per share for the current year.
Lam Research Company Profile
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.
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