Summit Trail Advisors LLC Purchases 130 Shares of Lam Research Co. (NASDAQ:LRCX)

Summit Trail Advisors LLC increased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 13.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,101 shares of the semiconductor company’s stock after buying an additional 130 shares during the quarter. Summit Trail Advisors LLC’s holdings in Lam Research were worth $1,175,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Lam Research during the 2nd quarter worth approximately $32,000. RFP Financial Group LLC lifted its stake in Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 12 shares during the last quarter. DSM Capital Partners LLC bought a new position in shares of Lam Research in the 4th quarter valued at about $28,000. Hobbs Group Advisors LLC acquired a new position in shares of Lam Research during the 2nd quarter worth about $40,000. Finally, Country Trust Bank bought a new stake in shares of Lam Research in the 2nd quarter valued at about $43,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LRCX. Barclays increased their price target on Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 5th. TD Cowen lifted their target price on shares of Lam Research from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Raymond James increased their price target on shares of Lam Research from $950.00 to $1,060.00 and gave the company an “outperform” rating in a report on Friday, June 7th. Citigroup reduced their price objective on Lam Research from $990.00 to $893.00 and set a “buy” rating for the company in a report on Monday, September 16th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $1,130.00 target price on shares of Lam Research in a research note on Thursday, August 1st. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,012.84.

Lam Research Trading Down 2.0 %

Shares of LRCX stock opened at $773.19 on Friday. Lam Research Co. has a fifty-two week low of $574.42 and a fifty-two week high of $1,130.00. The stock’s fifty day moving average price is $836.41 and its two-hundred day moving average price is $925.53. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. The company has a market cap of $101.09 billion, a PE ratio of 28.44, a P/E/G ratio of 1.48 and a beta of 1.48.

Lam Research’s stock is set to split before the market opens on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be payable to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.58 by $0.56. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same period in the prior year, the business earned $5.98 earnings per share. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. Equities analysts predict that Lam Research Co. will post 35.2 EPS for the current fiscal year.

Lam Research Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be issued a dividend of $2.30 per share. This is a boost from Lam Research’s previous quarterly dividend of $2.00. This represents a $9.20 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Tuesday, September 17th. Lam Research’s payout ratio is 33.84%.

Insider Activity

In other Lam Research news, SVP Neil J. Fernandes sold 4,409 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the sale, the senior vice president now directly owns 6,857 shares of the company’s stock, valued at approximately $7,239,346.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Neil J. Fernandes sold 4,409 shares of the stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total value of $4,654,845.84. Following the completion of the sale, the senior vice president now owns 6,857 shares of the company’s stock, valued at $7,239,346.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total value of $687,282.22. Following the completion of the transaction, the chief accounting officer now directly owns 4,914 shares in the company, valued at $5,219,945.64. The disclosure for this sale can be found here. Insiders sold 16,326 shares of company stock valued at $17,383,715 over the last quarter. 0.32% of the stock is owned by company insiders.

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.