First Commonwealth Financial Corp PA grew its stake in Lam Research Co. (NASDAQ:LRCX – Free Report) by 3.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,357 shares of the semiconductor company’s stock after acquiring an additional 48 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in Lam Research were worth $872,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the stock. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Lam Research by 97,796.1% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 131,092,612 shares of the semiconductor company’s stock valued at $84,274,197,000 after purchasing an additional 130,958,702 shares in the last quarter. Moneta Group Investment Advisors LLC increased its position in Lam Research by 117,180.9% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 32,822,222 shares of the semiconductor company’s stock valued at $13,795,180,000 after acquiring an additional 32,794,236 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Lam Research by 1,018.4% during the first quarter. Envestnet Asset Management Inc. now owns 3,507,601 shares of the semiconductor company’s stock valued at $169,077,000 after acquiring an additional 3,193,985 shares during the last quarter. GQG Partners LLC purchased a new stake in Lam Research during the first quarter valued at $913,330,000. Finally, Norges Bank purchased a new stake in Lam Research during the fourth quarter valued at $619,226,000. 84.08% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
LRCX has been the subject of a number of research reports. Needham & Company LLC upgraded Lam Research from a “hold” rating to a “buy” rating and set a $800.00 price objective for the company in a research report on Friday, October 13th. StockNews.com assumed coverage on Lam Research in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Wolfe Research assumed coverage on Lam Research in a research report on Thursday, September 14th. They issued an “outperform” rating and a $825.00 price target for the company. Evercore ISI reduced their price target on Lam Research from $750.00 to $700.00 in a research report on Thursday, October 5th. Finally, Wells Fargo & Company upped their price target on Lam Research from $620.00 to $650.00 in a research report on Thursday, July 27th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $660.00.
Insider Transactions at Lam Research
In other news, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $627.75, for a total value of $553,675.50. Following the sale, the director now directly owns 12,117 shares in the company, valued at $7,606,446.75. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $627.75, for a total value of $553,675.50. Following the sale, the director now directly owns 12,117 shares in the company, valued at $7,606,446.75. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Patrick J. Lord sold 1,845 shares of the firm’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $691.67, for a total value of $1,276,131.15. Following the transaction, the executive vice president now owns 9,892 shares in the company, valued at $6,841,999.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,404 shares of company stock worth $5,057,582. 0.32% of the stock is currently owned by company insiders.
Lam Research Price Performance
Lam Research stock traded down $0.10 during midday trading on Friday, reaching $700.34. 1,026,517 shares of the stock traded hands, compared to its average volume of 983,369. The stock’s fifty day moving average is $633.31 and its 200-day moving average is $632.02. Lam Research Co. has a 12 month low of $397.06 and a 12 month high of $726.53. The stock has a market cap of $92.30 billion, a P/E ratio of 23.81, a PEG ratio of 4.84 and a beta of 1.52. The company has a quick ratio of 1.94, a current ratio of 3.06 and a debt-to-equity ratio of 0.62.
Lam Research (NASDAQ:LRCX – Get Free Report) last announced its quarterly earnings results on Wednesday, October 18th. The semiconductor company reported $6.85 EPS for the quarter, beating analysts’ consensus estimates of $6.15 by $0.70. The company had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.42 billion. Lam Research had a return on equity of 50.02% and a net margin of 25.08%. The firm’s revenue was down 31.4% on a year-over-year basis. During the same period in the prior year, the company earned $10.42 earnings per share. As a group, equities research analysts anticipate that Lam Research Co. will post 27.65 EPS for the current year.
Lam Research Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 13th will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 1.14%. This is an increase from Lam Research’s previous quarterly dividend of $0.28. The ex-dividend date is Tuesday, December 12th. Lam Research’s dividend payout ratio is presently 27.20%.
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.
- Five stocks we like better than Lam Research
- What is Forex and How Does it Work?
- MarketBeat Week in Review – 11/13 – 11/17
- What is an Earnings Surprise?
- 3 large caps with red hot RSIs with upside
- What Are Meme Stocks and Are They Viable Investments?
- Johnson Controls International: Nothing but upside for investors
Receive News & Ratings for Lam Research Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lam Research and related companies with MarketBeat.com's FREE daily email newsletter.