Summit Investment Advisors Inc. Increases Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Summit Investment Advisors Inc. lifted its holdings in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 922.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,474 shares of the semiconductor company's stock after buying an additional 48,245 shares during the quarter. Summit Investment Advisors Inc.'s holdings in Lam Research were worth $3,862,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LRCX. Financial Perspectives Inc lifted its stake in Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock valued at $25,000 after buying an additional 309 shares in the last quarter. Fairway Wealth LLC boosted its stake in shares of Lam Research by 900.0% in the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 306 shares during the last quarter. Atwood & Palmer Inc. purchased a new stake in shares of Lam Research during the fourth quarter worth approximately $27,000. Midwest Capital Advisors LLC acquired a new position in Lam Research in the 4th quarter valued at $27,000. Finally, Bell Investment Advisors Inc lifted its holdings in Lam Research by 836.6% in the 4th quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 343 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

Wall Street Analysts Forecast Growth

LRCX has been the subject of a number of recent research reports. UBS Group reduced their target price on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Wells Fargo & Company increased their price target on Lam Research from $82.00 to $85.00 and gave the company an "equal weight" rating in a report on Thursday, January 30th. Stifel Nicolaus dropped their target price on Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a report on Tuesday. Susquehanna raised shares of Lam Research from a "neutral" rating to a "positive" rating and upped their price objective for the company from $75.00 to $125.00 in a report on Thursday, February 20th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $100.00 price target on shares of Lam Research in a report on Tuesday, February 18th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.87.

Insider Activity

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the transaction, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.29% of the company's stock.

Lam Research Stock Down 2.1 %

LRCX traded down $1.38 on Friday, reaching $63.76. The company's stock had a trading volume of 13,845,188 shares, compared to its average volume of 12,150,980. The company has a market capitalization of $81.85 billion, a price-to-earnings ratio of 19.37, a P/E/G ratio of 1.47 and a beta of 1.52. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. Lam Research Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. The stock has a 50 day moving average of $74.79 and a two-hundred day moving average of $75.96.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. As a group, analysts forecast that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.23 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.44%. Lam Research's payout ratio is 27.96%.

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.