Perigon Wealth Management LLC Makes New Investment in Lam Research Co. (NASDAQ:LRCX)

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Perigon Wealth Management LLC bought a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,328 shares of the semiconductor company’s stock, valued at approximately $430,000.

A number of other large investors have also modified their holdings of LRCX. Atticus Wealth Management LLC bought a new position in Lam Research during the first quarter worth about $26,000. Ameritas Investment Company LLC boosted its position in Lam Research by 900.0% during the first quarter. Ameritas Investment Company LLC now owns 110 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 99 shares during the period. Shine Investment Advisory Services Inc. boosted its position in Lam Research by 371.0% during the first quarter. Shine Investment Advisory Services Inc. now owns 146 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 115 shares during the period. OmniStar Financial Group Inc. bought a new position in Lam Research during the first quarter worth about $47,000. Finally, Reitz Capital Advisors LLC bought a new position in shares of Lam Research in the second quarter valued at approximately $47,000. Hedge funds and other institutional investors own 85.05% of the company’s stock.

In other news, SVP Vahid Vahedi sold 10,688 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $330.00, for a total transaction of $3,527,040.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Patrick J. Lord sold 10,719 shares of the business’s stock in a transaction on Monday, July 13th. The shares were sold at an average price of $343.00, for a total transaction of $3,676,617.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,466 shares of company stock worth $11,250,054. 0.43% of the stock is currently owned by company insiders.

LRCX has been the subject of a number of analyst reports. Cowen raised their price objective on shares of Lam Research from $375.00 to $450.00 and gave the company an “outperform” rating in a research report on Thursday. DA Davidson raised their price objective on shares of Lam Research from $270.00 to $370.00 and gave the company a “neutral” rating in a research report on Thursday. Zacks Investment Research upgraded shares of Lam Research from a “sell” rating to a “hold” rating and set a $277.00 target price for the company in a research report on Friday, April 24th. Credit Suisse Group lifted their target price on shares of Lam Research from $370.00 to $450.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Morgan Stanley lifted their target price on shares of Lam Research from $334.00 to $415.00 and gave the company an “overweight” rating in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $370.35.

LRCX stock opened at $377.16 on Friday. The company has a market capitalization of $54.75 billion, a PE ratio of 23.65, a price-to-earnings-growth ratio of 1.72 and a beta of 1.35. Lam Research Co. has a one year low of $181.38 and a one year high of $381.48. The company’s 50 day moving average price is $327.42 and its two-hundred day moving average price is $289.35. The company has a debt-to-equity ratio of 0.96, a quick ratio of 3.67 and a current ratio of 3.43.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, July 29th. The semiconductor company reported $4.78 EPS for the quarter, topping the consensus estimate of $4.20 by $0.58. Lam Research had a net margin of 22.42% and a return on equity of 49.72%. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.68 billion. During the same period in the previous year, the firm earned $3.62 earnings per share. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. On average, research analysts predict that Lam Research Co. will post 18.13 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Wednesday, June 17th were issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 1.22%. The ex-dividend date was Tuesday, June 16th.

Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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

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