Lam Research Co. (NASDAQ:LRCX) Shares Bought by Summit Global Investments

Summit Global Investments lifted its stake in Lam Research Co. (NASDAQ:LRCX) by 96.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,176 shares of the semiconductor company’s stock after acquiring an additional 6,968 shares during the period. Summit Global Investments’ holdings in Lam Research were worth $1,024,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Advisors Asset Management Inc. raised its holdings in shares of Lam Research by 3.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,859 shares of the semiconductor company’s stock worth $3,149,000 after purchasing an additional 144 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Lam Research by 9.2% in the 3rd quarter. Pacer Advisors Inc. now owns 24,366 shares of the semiconductor company’s stock worth $19,885,000 after purchasing an additional 2,062 shares in the last quarter. Eagle Asset Management Inc. raised its holdings in shares of Lam Research by 1,111.3% in the 3rd quarter. Eagle Asset Management Inc. now owns 52,036 shares of the semiconductor company’s stock worth $42,466,000 after purchasing an additional 47,740 shares in the last quarter. Meridian Wealth Management LLC bought a new stake in shares of Lam Research in the 3rd quarter worth approximately $778,000. Finally, Nicolet Advisory Services LLC raised its holdings in shares of Lam Research by 909.8% in the 3rd quarter. Nicolet Advisory Services LLC now owns 4,514 shares of the semiconductor company’s stock worth $3,684,000 after purchasing an additional 4,067 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction dated Thursday, February 20th. The shares were 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 directly owns 179,084 shares of the company’s stock, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.29% of the stock is owned by insiders.

Analyst Ratings Changes

LRCX has been the topic of a number of research reports. Oppenheimer initiated coverage on shares of Lam Research in a report on Thursday. They issued an “outperform” rating and a $95.00 target price on the stock. Barclays cut their price target on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a 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 report on Thursday, January 30th. Wells Fargo & Company boosted their price target on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Finally, Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.06.

Lam Research Stock Performance

NASDAQ:LRCX opened at $75.84 on Friday. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The firm’s fifty day simple moving average is $79.62 and its 200 day simple moving average is $77.28. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $97.35 billion, a PE ratio of 23.04, a PEG ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate 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, sell-side analysts anticipate that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Wednesday, March 5th. Lam Research’s payout ratio is 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.