Oppenheimer Asset Management Inc. Decreases Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Oppenheimer Asset Management Inc. decreased its position in shares of Lam Research Co. (NASDAQ:LRCXFree Report) by 4.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,252 shares of the semiconductor company’s stock after selling 95 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Lam Research were worth $1,411,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bollard Group LLC boosted its stake in Lam Research by 60.0% during the 2nd quarter. Bollard Group LLC now owns 40 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 15 shares during the last quarter. BluePath Capital Management LLC acquired a new stake in shares of Lam Research during the third quarter worth about $28,000. Resurgent Financial Advisors LLC acquired a new stake in shares of Lam Research during the second quarter worth about $29,000. OFI Invest Asset Management purchased a new stake in shares of Lam Research during the third quarter worth approximately $30,000. Finally, Steward Financial Group LLC purchased a new stake in shares of Lam Research during the second quarter worth approximately $32,000. Institutional investors and hedge funds own 84.08% of the company’s stock.

Lam Research Price Performance

Shares of LRCX opened at $848.54 on Thursday. The company has a market cap of $111.24 billion, a P/E ratio of 32.81, a PEG ratio of 2.99 and a beta of 1.50. The stock has a fifty day moving average price of $776.52 and a 200 day moving average price of $699.23. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02. Lam Research Co. has a 12 month low of $467.02 and a 12 month high of $900.09.

Lam Research (NASDAQ:LRCXGet Free Report) last announced its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.06 by $0.46. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The company had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the previous year, the firm posted $10.71 EPS. The firm’s quarterly revenue was down 28.8% on a year-over-year basis. On average, research analysts forecast that Lam Research Co. will post 28.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LRCX. Stifel Nicolaus increased their price target on shares of Lam Research from $850.00 to $950.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Redburn Atlantic began coverage on Lam Research in a report on Wednesday, November 22nd. They issued a “buy” rating and a $800.00 price target for the company. Needham & Company LLC lifted their price objective on Lam Research from $800.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Susquehanna boosted their price target on Lam Research from $655.00 to $880.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Finally, Raymond James upped their target price on Lam Research from $850.00 to $950.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Nine equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Lam Research has an average rating of “Moderate Buy” and an average target price of $793.27.

Get Our Latest Stock Report on Lam Research

Insiders Place Their Bets

In other Lam Research news, EVP Patrick J. Lord sold 1,845 shares of the business’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $675.00, for a total transaction of $1,245,375.00. Following the completion of the transaction, the executive vice president now owns 11,737 shares in the company, valued at approximately $7,922,475. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Patrick J. Lord sold 1,845 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $675.00, for a total value of $1,245,375.00. Following the completion of the sale, the executive vice president now owns 11,737 shares in the company, valued at $7,922,475. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Timothy Archer sold 10,524 shares of the company’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $732.00, for a total value of $7,703,568.00. Following the completion of the sale, the chief executive officer now owns 86,449 shares of the company’s stock, valued at approximately $63,280,668. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,236 shares of company stock worth $25,375,687. 0.32% of the stock is owned by company insiders.

Lam Research Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding LRCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lam Research Co. (NASDAQ:LRCXFree Report).

Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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.