Lam Research Co. (NASDAQ:LRCX) Shares Bought by &Partners

&Partners increased its stake in Lam Research Co. (NASDAQ:LRCX) by 69.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,193 shares of the semiconductor company’s stock after purchasing an additional 491 shares during the quarter. &Partners’ holdings in Lam Research were worth $1,270,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Checchi Capital Advisers LLC lifted its stake in shares of Lam Research by 1.0% in the 4th quarter. Checchi Capital Advisers LLC now owns 1,781 shares of the semiconductor company’s stock worth $1,395,000 after acquiring an additional 18 shares during the period. Citizens Financial Group Inc. RI boosted its stake in Lam Research by 20.9% during the 4th quarter. Citizens Financial Group Inc. RI now owns 491 shares of the semiconductor company’s stock valued at $384,000 after purchasing an additional 85 shares in the last quarter. Jump Financial LLC increased its position in shares of Lam Research by 108.1% during the 4th quarter. Jump Financial LLC now owns 2,283 shares of the semiconductor company’s stock valued at $1,788,000 after purchasing an additional 1,186 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Lam Research by 2.3% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 139,698 shares of the semiconductor company’s stock worth $109,420,000 after buying an additional 3,124 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Lam Research by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 777,722 shares of the semiconductor company’s stock valued at $609,159,000 after buying an additional 14,902 shares during the period. Institutional investors own 84.61% of the company’s stock.

Insider Activity at Lam Research

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

Wall Street Analysts Forecast Growth

LRCX has been the topic of several research reports. Barclays boosted their price target on shares of Lam Research from $865.00 to $900.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 5th. Raymond James increased their target price on shares of Lam Research from $950.00 to $1,060.00 and gave the company an “outperform” rating in a research note on Friday, June 7th. Needham & Company LLC restated a “buy” rating and issued a $1,130.00 price target on shares of Lam Research in a research report on Thursday, August 1st. B. Riley increased their price objective on Lam Research from $1,130.00 to $1,325.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Finally, TD Cowen lifted their target price on Lam Research from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,006.10.

Lam Research Price Performance

Shares of LRCX opened at $847.37 on Friday. The business’s 50-day moving average is $955.97 and its 200-day moving average is $945.30. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 1.84. The company has a market capitalization of $110.79 billion, a price-to-earnings ratio of 31.16, a P/E/G ratio of 2.41 and a beta of 1.48. Lam Research Co. has a fifty-two week low of $574.42 and a fifty-two week high of $1,130.00.

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 issued shares will be payable to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the firm earned $5.98 EPS. The company’s revenue was up 20.7% compared to the same quarter last year. Equities research analysts expect that Lam Research Co. will post 35.09 EPS for the current fiscal year.

Lam Research declared that its board has approved a share buyback plan on Tuesday, May 21st that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to reacquire up to 8.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

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.