Summit Global Investments Has $1.02 Million Holdings in Lam Research Co. (NASDAQ:LRCX)

Summit Global Investments lifted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 96.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,176 shares of the semiconductor company’s stock after buying an additional 6,968 shares during the quarter. Summit Global Investments’ holdings in Lam Research were worth $1,024,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of LRCX. Advisors Asset Management Inc. grew its position in shares of Lam Research by 3.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,859 shares of the semiconductor company’s stock worth $3,149,000 after buying an additional 144 shares during the period. Pacer Advisors Inc. grew its position in shares of Lam Research by 9.2% during the 3rd quarter. Pacer Advisors Inc. now owns 24,366 shares of the semiconductor company’s stock worth $19,885,000 after buying an additional 2,062 shares during the period. Eagle Asset Management Inc. grew its position in shares of Lam Research by 1,111.3% during the 3rd quarter. Eagle Asset Management Inc. now owns 52,036 shares of the semiconductor company’s stock worth $42,466,000 after buying an additional 47,740 shares during the period. Meridian Wealth Management LLC acquired a new stake in shares of Lam Research during the 3rd quarter worth approximately $778,000. Finally, Nicolet Advisory Services LLC grew its position in shares of Lam Research by 909.8% during the 3rd quarter. Nicolet Advisory Services LLC now owns 4,514 shares of the semiconductor company’s stock worth $3,684,000 after buying an additional 4,067 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Performance

NASDAQ LRCX opened at $75.84 on Friday. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The firm’s fifty day moving average price is $79.62 and its two-hundred day moving average price is $77.28. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The firm has a market capitalization of $97.35 billion, a P/E ratio of 23.04, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating 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%. As a group, research analysts anticipate that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.21%. Lam Research’s dividend payout ratio is currently 27.96%.

Insider Buying and Selling at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on LRCX shares. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and boosted their price objective for the company from $75.00 to $125.00 in a report on Thursday, February 20th. Wells Fargo & Company boosted their price objective on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Finally, KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a report on Friday, January 17th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $98.06.

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.