KG&L Capital Management LLC Trims Stock Position in Lam Research Co. (NASDAQ:LRCX)

KG&L Capital Management LLC decreased its holdings in Lam Research Co. (NASDAQ:LRCX) by 12.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 294 shares of the semiconductor company’s stock after selling 42 shares during the quarter. KG&L Capital Management LLC’s holdings in Lam Research were worth $313,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of LRCX. J.W. Cole Advisors Inc. acquired a new position in Lam Research during the fourth quarter worth approximately $244,000. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of Lam Research by 76.7% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 765 shares of the semiconductor company’s stock worth $599,000 after buying an additional 332 shares during the last quarter. Handelsbanken Fonder AB raised its position in shares of Lam Research by 6.7% in the 4th quarter. Handelsbanken Fonder AB now owns 53,949 shares of the semiconductor company’s stock worth $42,256,000 after buying an additional 3,377 shares during the period. Commerzbank Aktiengesellschaft FI acquired a new position in Lam Research in the fourth quarter valued at $345,000. Finally, MCF Advisors LLC grew its position in Lam Research by 860.0% during the fourth quarter. MCF Advisors LLC now owns 48 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 43 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Lam Research from $900.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. B. Riley raised their price target on shares of Lam Research from $1,130.00 to $1,325.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Jefferies Financial Group began coverage on shares of Lam Research in a research note on Monday, May 13th. They set a “buy” rating and a $1,100.00 price objective for the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $1,200.00 target price on shares of Lam Research in a research note on Thursday, August 1st. Finally, StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,006.10.

Insider Transactions at Lam Research

In other Lam Research news, SVP Neil J. Fernandes sold 4,409 shares of Lam Research stock in a transaction on 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 completion of the transaction, the senior vice president now owns 6,857 shares of the company’s stock, valued at $7,239,346.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Timothy Archer sold 9,650 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $1,070.39, for a total transaction of $10,329,263.50. Following the completion of the transaction, the chief executive officer now owns 84,639 shares in the company, valued at approximately $90,596,739.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Neil J. Fernandes sold 4,409 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total value of $4,654,845.84. Following the completion of the sale, the senior vice president now directly owns 6,857 shares in the company, valued at $7,239,346.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,326 shares of company stock worth $17,383,715. 0.32% of the stock is currently owned by corporate insiders.

Lam Research Stock Down 1.9 %

Shares of Lam Research stock traded down $16.22 on Thursday, hitting $857.11. 290,088 shares of the company’s stock traded hands, compared to its average volume of 1,064,955. The stock has a market cap of $112.06 billion, a P/E ratio of 32.12, a PEG ratio of 2.41 and a beta of 1.48. The firm’s 50-day moving average is $963.79 and its 200 day moving average is $946.10. The company has a quick ratio of 1.84, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. Lam Research Co. has a 52-week low of $574.42 and a 52-week high of $1,130.00.

Lam Research’s stock is going to split 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 earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the previous year, the firm earned $5.98 EPS. The company’s revenue was up 20.7% on a year-over-year basis. Equities analysts anticipate that Lam Research Co. will post 35.09 earnings per share for the current year.

Lam Research announced that its board has authorized a share buyback program on Tuesday, May 21st that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 8.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

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.