Summit Financial LLC Has $592,000 Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Summit Financial LLC increased its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 882.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 8,165 shares of the semiconductor company's stock after buying an additional 7,334 shares during the period. Summit Financial LLC's holdings in Lam Research were worth $592,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of LRCX. Cinctive Capital Management LP acquired a new stake in shares of Lam Research during the third quarter worth $1,762,000. Hilltop Holdings Inc. raised its stake in Lam Research by 65.8% in the 3rd quarter. Hilltop Holdings Inc. now owns 1,350 shares of the semiconductor company's stock worth $1,101,000 after purchasing an additional 536 shares in the last quarter. IHT Wealth Management LLC boosted its holdings in Lam Research by 5.7% in the 3rd quarter. IHT Wealth Management LLC now owns 2,729 shares of the semiconductor company's stock valued at $2,216,000 after purchasing an additional 147 shares during the period. Motley Fool Asset Management LLC grew its position in shares of Lam Research by 5.6% during the 3rd quarter. Motley Fool Asset Management LLC now owns 5,965 shares of the semiconductor company's stock worth $4,756,000 after purchasing an additional 316 shares in the last quarter. Finally, Rench Wealth Management Inc. increased its holdings in shares of Lam Research by 3.1% during the third quarter. Rench Wealth Management Inc. now owns 7,922 shares of the semiconductor company's stock worth $6,465,000 after purchasing an additional 237 shares during the period. Institutional investors and hedge funds own 84.61% of the company's stock.

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Lam Research Trading Up 2.7 %

Shares of Lam Research stock traded up $1.58 during midday trading on Monday, reaching $60.67. The company had a trading volume of 10,503,309 shares, compared to its average volume of 11,836,870. The firm has a market cap of $77.87 billion, a PE ratio of 18.48, a P/E/G ratio of 1.47 and a beta of 1.52. The stock has a fifty day moving average price of $78.26 and a 200 day moving average price of $77.08. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research Co. has a fifty-two week low of $56.49 and a fifty-two week high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. On average, equities analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research's dividend payout ratio is 27.96%.

Insider Activity at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the sale, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Analyst Ratings Changes

LRCX has been the subject of several recent research reports. KeyCorp upgraded Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price target for the company in a research note on Friday, January 17th. Jefferies Financial Group increased their target price on Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, March 28th. Sanford C. Bernstein raised Lam Research from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $85.00 to $91.00 in a research note on Thursday, January 30th. Cantor Fitzgerald reissued an "overweight" rating and issued a $100.00 target price on shares of Lam Research in a report on Tuesday, February 18th. Finally, The Goldman Sachs Group cut their price target on shares of Lam Research from $96.00 to $85.00 and set a "buy" rating for the company in a report on Friday, January 10th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $97.59.

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.