Summit Financial LLC Makes New Investment in Lam Research Co. (NASDAQ:LRCX)

Summit Financial LLC bought a new stake in shares of Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 300 shares of the semiconductor company’s stock, valued at approximately $236,000.

Several other large investors have also modified their holdings of the business. Orion Capital Management LLC bought a new position in Lam Research in the third quarter worth approximately $25,000. BluePath Capital Management LLC purchased a new position in shares of Lam Research in the 3rd quarter valued at $28,000. OFI Invest Asset Management bought a new position in shares of Lam Research in the 3rd quarter worth $30,000. Asset Dedication LLC lifted its stake in shares of Lam Research by 56.7% during the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 17 shares during the last quarter. Finally, Valued Wealth Advisors LLC purchased a new position in Lam Research in the fourth quarter valued at about $30,000. Institutional investors own 84.61% of the company’s stock.

Lam Research Trading Up 2.8 %

Shares of Lam Research stock opened at $908.53 on Friday. Lam Research Co. has a 1 year low of $507.19 and a 1 year high of $1,007.39. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84. The stock has a market cap of $119.11 billion, a PE ratio of 33.41, a price-to-earnings-growth ratio of 2.74 and a beta of 1.51. The firm has a fifty day moving average price of $941.71 and a 200 day moving average price of $816.04.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.26 by $0.53. The business had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.99 EPS. Equities research analysts predict that Lam Research Co. will post 29.62 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 0.88%. The ex-dividend date was Tuesday, March 12th. Lam Research’s dividend payout ratio (DPR) is 29.42%.

Analyst Upgrades and Downgrades

Several analysts have commented on LRCX shares. UBS Group increased their price target on shares of Lam Research from $1,130.00 to $1,150.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Susquehanna lowered their target price on shares of Lam Research from $880.00 to $850.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $1,100.00 price target on shares of Lam Research in a research report on Thursday, April 25th. Mizuho raised their price objective on Lam Research from $935.00 to $960.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, JPMorgan Chase & Co. boosted their target price on Lam Research from $900.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus target price of $950.85.

Insider Activity at Lam Research

In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $857,330.46. Following the completion of the transaction, the director now owns 10,541 shares in the company, valued at $10,246,168.23. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Abhijit Y. Talwalkar sold 882 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the completion of the transaction, the director now owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the sale, the chief accounting officer now directly owns 5,541 shares in the company, valued at $5,386,018.23. The disclosure for this sale can be found here. Insiders sold a total of 7,089 shares of company stock worth $6,614,781 in the last three months. Company insiders own 0.32% of the company’s stock.

About Lam Research

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.