Institute for Wealth Management LLC. decreased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 6.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,224 shares of the semiconductor company’s stock after selling 531 shares during the period. Institute for Wealth Management LLC.’s holdings in Lam Research were worth $1,357,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the company. FMR LLC lifted its position in shares of Lam Research by 13.7% during the first quarter. FMR LLC now owns 7,565,824 shares of the semiconductor company’s stock worth $1,354,358,000 after purchasing an additional 913,293 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Lam Research by 2.1% during the second quarter. Janus Henderson Group PLC now owns 5,432,134 shares of the semiconductor company’s stock worth $1,020,373,000 after purchasing an additional 112,508 shares during the last quarter. LSV Asset Management lifted its position in shares of Lam Research by 1.3% during the first quarter. LSV Asset Management now owns 3,083,160 shares of the semiconductor company’s stock worth $551,916,000 after purchasing an additional 38,150 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Lam Research by 18.6% during the fourth quarter. Geode Capital Management LLC now owns 2,519,701 shares of the semiconductor company’s stock worth $342,720,000 after purchasing an additional 395,218 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Lam Research by 5.7% during the first quarter. Northern Trust Corp now owns 2,029,435 shares of the semiconductor company’s stock worth $363,289,000 after purchasing an additional 109,461 shares during the last quarter. 86.39% of the stock is currently owned by institutional investors and hedge funds.
In other Lam Research news, Director Abhijit Y. Talwalkar sold 3,987 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $210.00, for a total value of $837,270.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Seshasayee Varadarajan sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were 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. Insiders sold 25,109 shares of company stock worth $5,072,969 in the last 90 days. 0.44% of the stock is owned by company insiders.
A number of equities analysts have issued reports on LRCX shares. Wells Fargo & Co raised their target price on shares of Lam Research from $195.00 to $200.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st. DA Davidson cut shares of Lam Research from a “buy” rating to a “neutral” rating and cut their target price for the stock from $225.00 to $200.00 in a report on Monday, July 8th. UBS Group raised their target price on shares of Lam Research from $170.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Goldman Sachs Group cut shares of Lam Research from a “buy” rating to a “neutral” rating in a report on Monday, July 22nd. Finally, Credit Suisse Group reissued a “positive” rating on shares of Lam Research in a report on Monday, July 8th. They noted that the move was a valuation call. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $224.69.
NASDAQ LRCX traded up $6.18 during trading hours on Friday, reaching $205.11. The company’s stock had a trading volume of 1,924,900 shares, compared to its average volume of 1,946,544. 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 business has a 50-day simple moving average of $196.88 and a 200 day simple moving average of $187.76. Lam Research Co. has a 52 week low of $122.64 and a 52 week high of $218.49. The stock has a market cap of $29.82 billion, a PE ratio of 14.10, a PEG ratio of 1.22 and a beta of 1.61.
Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $3.62 EPS for the quarter, beating the consensus estimate of $3.40 by $0.22. Lam Research had a net margin of 22.70% and a return on equity of 43.82%. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.37 billion. During the same quarter last year, the business earned $5.31 earnings per share. Lam Research’s revenue was down 24.5% compared to the same quarter last year. As a group, equities analysts predict that Lam Research Co. will post 13.57 EPS for the current year.
Lam Research 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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