NEXT Financial Group Inc boosted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 2,270.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 237 shares of the semiconductor company’s stock after acquiring an additional 227 shares during the period. NEXT Financial Group Inc’s holdings in Lam Research were worth $45,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Zions Bancorporation N.A. bought a new stake in Lam Research during the 1st quarter worth approximately $28,000. Valeo Financial Advisors LLC raised its stake in Lam Research by 287.7% during the 2nd quarter. Valeo Financial Advisors LLC now owns 663 shares of the semiconductor company’s stock worth $125,000 after acquiring an additional 492 shares during the period. TCW Group Inc. raised its stake in Lam Research by 16.8% during the 1st quarter. TCW Group Inc. now owns 128,920 shares of the semiconductor company’s stock worth $23,078,000 after acquiring an additional 18,539 shares during the period. Parametric Portfolio Associates LLC raised its stake in Lam Research by 20.5% during the 1st quarter. Parametric Portfolio Associates LLC now owns 634,194 shares of the semiconductor company’s stock worth $113,527,000 after acquiring an additional 108,066 shares during the period. Finally, Altman Advisors Inc. raised its position in shares of Lam Research by 1.7% during the second quarter. Altman Advisors Inc. now owns 6,581 shares of the semiconductor company’s stock valued at $1,236,000 after buying an additional 112 shares during the last quarter. Institutional investors own 86.32% of the company’s stock.
In related news, insider Kevin Jennings sold 1,122 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $210.07, for a total value of $235,698.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Seshasayee Varadarajan sold 20,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $200.00, for a total transaction of $4,000,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,109 shares of company stock valued at $5,072,969. 0.44% of the stock is currently owned by insiders.
Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, July 31st. The semiconductor company reported $3.62 earnings per share for the quarter, beating analysts’ consensus estimates of $3.40 by $0.22. Lam Research had a net margin of 22.70% and a return on equity of 43.82%. The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.37 billion. During the same period last year, the firm posted $5.31 earnings per share. Lam Research’s revenue for the quarter was down 24.5% compared to the same quarter last year. As a group, research analysts anticipate that Lam Research Co. will post 13.57 EPS for the current fiscal year.
LRCX has been the topic of several recent analyst reports. Wells Fargo & Co lifted their price objective on shares of Lam Research from $195.00 to $200.00 and gave the company a “market perform” rating in a research report on Thursday, August 1st. UBS Group lifted their price objective on shares of Lam Research from $170.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. KeyCorp lifted their price objective on shares of Lam Research from $236.00 to $252.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. ValuEngine cut shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada reiterated a “buy” rating on shares of Lam Research in a research report on Wednesday. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $224.69.
Lam Research 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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