42 Shares in Lam Research Co. (NASDAQ:LRCX) Purchased by MFA Wealth Advisors LLC

MFA Wealth Advisors LLC acquired a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the 2nd quarter, HoldingsChannel reports. The firm acquired 42 shares of the semiconductor company’s stock, valued at approximately $45,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LRCX. Aaron Wealth Advisors LLC boosted its stake in Lam Research by 6.1% during the second quarter. Aaron Wealth Advisors LLC now owns 701 shares of the semiconductor company’s stock worth $746,000 after buying an additional 40 shares during the period. Geneva Partners LLC boosted its stake in Lam Research by 187.2% during the second quarter. Geneva Partners LLC now owns 4,363 shares of the semiconductor company’s stock worth $4,646,000 after buying an additional 2,844 shares during the period. Fifth Third Bancorp boosted its stake in Lam Research by 7.6% during the second quarter. Fifth Third Bancorp now owns 16,472 shares of the semiconductor company’s stock worth $17,540,000 after buying an additional 1,162 shares during the period. Onyx Bridge Wealth Group LLC purchased a new position in shares of Lam Research in the second quarter valued at approximately $266,000. Finally, Commerzbank Aktiengesellschaft FI boosted its stake in shares of Lam Research by 6.6% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 569 shares of the semiconductor company’s stock valued at $606,000 after purchasing an additional 35 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LRCX has been the subject of several recent research reports. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. TD Cowen raised their price objective on shares of Lam Research from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Citigroup lowered their price objective on shares of Lam Research from $1,025.00 to $990.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Lam Research from $1,100.00 to $950.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $1,200.00 price objective on shares of Lam Research in a research note on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,006.10.

Insider Activity

In related 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 transaction, the senior vice president now directly owns 6,857 shares in the company, valued at approximately $7,239,346.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related 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 transaction, the senior vice president now directly owns 6,857 shares in the company, valued at approximately $7,239,346.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Neil J. Fernandes sold 1,620 shares of Lam Research stock in a transaction on Friday, July 12th. The shares were sold at an average price of $1,056.99, for a total transaction of $1,712,323.80. Following the completion of the transaction, the senior vice president now owns 5,237 shares in the company, valued at $5,535,456.63. The disclosure for this sale can be found here. Insiders have sold 16,326 shares of company stock valued at $17,383,715 in the last ninety days. 0.32% of the stock is currently owned by company insiders.

Lam Research Stock Performance

Shares of Lam Research stock traded up $10.47 during trading on Wednesday, reaching $873.33. The company’s stock had a trading volume of 844,496 shares, compared to its average volume of 1,069,763. The company has a 50-day moving average price of $963.79 and a two-hundred day moving average price of $946.10. The firm has a market cap of $114.18 billion, a PE ratio of 32.12, a P/E/G ratio of 2.41 and a beta of 1.48. Lam Research Co. has a fifty-two week low of $574.42 and a fifty-two week high of $1,130.00. The company has a current ratio of 2.97, a quick ratio of 1.84 and a debt-to-equity ratio of 0.52.

Shares of Lam Research are going to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly issued shares will be distributed to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 EPS for the quarter, beating analysts’ consensus estimates of $7.58 by $0.56. The business had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the previous year, the company posted $5.98 EPS. On average, analysts forecast that Lam Research Co. will post 35.09 EPS for the current year.

Lam Research announced that its Board of Directors has approved a stock repurchase program on Tuesday, May 21st that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase up to 8.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Lam Research 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.