Algert Global LLC Invests $914,000 in Lam Research Co. (NASDAQ:LRCX)

Algert Global LLC purchased a new position in Lam Research Co. (NASDAQ:LRCX) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 1,405 shares of the semiconductor company’s stock, valued at approximately $914,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital Analysts LLC purchased a new stake in shares of Lam Research in the first quarter worth approximately $32,000. Evoke Wealth LLC raised its holdings in shares of Lam Research by 150.0% in the first quarter. Evoke Wealth LLC now owns 60 shares of the semiconductor company’s stock worth $36,000 after buying an additional 36 shares during the period. Gemmer Asset Management LLC increased its holdings in Lam Research by 39.0% during the 2nd quarter. Gemmer Asset Management LLC now owns 57 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 16 shares during the period. Harbour Investments Inc. purchased a new position in Lam Research during the 1st quarter worth $38,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in Lam Research by 54.3% during the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 71 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 25 shares during the period. Hedge funds and other institutional investors own 81.32% of the company’s stock.

In other news, CEO Timothy Archer sold 4,464 shares of the business’s stock in a transaction that occurred on Friday, August 27th. The stock was sold at an average price of $600.00, for a total transaction of $2,678,400.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Scott Gerald Meikle sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, September 15th. The shares were sold at an average price of $603.79, for a total value of $301,895.00. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

A number of research analysts have recently issued reports on LRCX shares. BNP Paribas downgraded Lam Research from an “outperform” rating to a “neutral” rating and set a $640.00 price target on the stock. in a report on Tuesday, September 7th. UBS Group lowered their price objective on Lam Research from $780.00 to $715.00 and set a “buy” rating for the company in a research report on Tuesday, September 21st. Zacks Investment Research cut Lam Research from a “buy” rating to a “hold” rating and set a $653.00 price objective for the company. in a research report on Wednesday, June 23rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $790.00 price target on shares of Lam Research in a research report on Friday, September 10th. Finally, Susquehanna Bancshares cut Lam Research from a “positive” rating to a “neutral” rating and lowered their price target for the stock from $750.00 to $690.00 in a research report on Tuesday, September 14th. Nine investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $702.83.

Shares of NASDAQ LRCX traded up $16.70 during trading on Thursday, reaching $561.11. 26,720 shares of the company traded hands, compared to its average volume of 1,431,502. The firm’s fifty day simple moving average is $590.59 and its 200 day simple moving average is $615.02. The stock has a market cap of $79.65 billion, a P/E ratio of 20.21, a PEG ratio of 1.05 and a beta of 1.24. Lam Research Co. has a 12-month low of $333.31 and a 12-month high of $673.80. The company has a current ratio of 3.30, a quick ratio of 2.54 and a debt-to-equity ratio of 0.83.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, July 28th. The semiconductor company reported $8.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $7.53 by $0.56. Lam Research had a return on equity of 70.92% and a net margin of 26.72%. The firm had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4 billion. During the same quarter in the previous year, the business earned $4.78 EPS. As a group, research analysts expect that Lam Research Co. will post 33.45 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 13th. Shareholders of record on Tuesday, September 28th were paid a dividend of $1.50 per share. This is a positive change from Lam Research’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 1.07%. The ex-dividend date was Monday, September 27th. Lam Research’s payout ratio is 22.03%.

Lam Research Company Profile

Lam Research Corp. engages in manufacturing and servicing of wafer processing semiconductor manufacturing equipment. It operates through the following geographical segments: the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. It offers thin film deposition, plasma etch, photoresist strip, and wafer cleaning.

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

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