American National Bank Sells 15 Shares of Lam Research Co. (NASDAQ:LRCX)

American National Bank cut its stake in Lam Research Co. (NASDAQ:LRCX) by 6.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 215 shares of the semiconductor company’s stock after selling 15 shares during the quarter. American National Bank’s holdings in Lam Research were worth $229,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of LRCX. DSM Capital Partners LLC bought a new position in Lam Research during the 4th quarter worth approximately $28,000. CarsonAllaria Wealth Management Ltd. acquired a new stake in Lam Research in the 2nd quarter valued at $32,000. Partnership Wealth Management LLC acquired a new stake in Lam Research in the 4th quarter valued at $33,000. MCF Advisors LLC grew its position in Lam Research by 860.0% in the 4th quarter. MCF Advisors LLC now owns 48 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 43 shares during the period. Finally, Atlantic Edge Private Wealth Management LLC acquired a new stake in Lam Research in the 4th quarter valued at $39,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Raymond James lifted their price objective on shares of Lam Research from $950.00 to $1,060.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. Barclays upped their target price on Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a report on Wednesday, June 5th. Cantor Fitzgerald restated a “neutral” rating and issued a $1,200.00 price target on shares of Lam Research in a research note on Thursday, August 1st. Susquehanna reduced their price objective on shares of Lam Research from $880.00 to $850.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Finally, B. Riley increased their price objective on shares of 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. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and an average target price of $1,006.10.

Insider Activity

In other Lam Research news, SVP Neil J. Fernandes sold 4,409 shares of the business’s stock in a transaction 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 in the company, valued at approximately $7,239,346.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Neil J. Fernandes sold 4,409 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total value of $4,654,845.84. Following the sale, the senior vice president now directly owns 6,857 shares in the company, valued at approximately $7,239,346.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Neil J. Fernandes sold 1,620 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $1,056.99, for a total transaction of $1,712,323.80. Following the completion of the sale, the senior vice president now owns 5,237 shares in the company, valued at $5,535,456.63. The disclosure for this sale can be found here. Insiders have sold 16,326 shares of company stock valued at $17,383,715 in the last ninety days. 0.32% of the stock is currently owned by company insiders.

Lam Research Stock Down 3.8 %

NASDAQ:LRCX traded down $33.29 during mid-day trading on Thursday, hitting $840.04. The stock had a trading volume of 772,788 shares, compared to its average volume of 1,067,935. The stock has a 50-day simple moving average of $963.79 and a two-hundred day simple moving average of $946.10. The company has a market capitalization of $109.83 billion, a PE ratio of 31.51, a PEG ratio of 2.41 and a beta of 1.48. Lam Research Co. has a twelve month low of $574.42 and a twelve month high of $1,130.00. The company has a current ratio of 2.97, a quick ratio of 1.84 and a debt-to-equity ratio of 0.52.

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

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share 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 for the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter last year, the company earned $5.98 earnings per share. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, equities research analysts anticipate that Lam Research Co. will post 35.09 EPS for the current year.

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

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.