Lam Research Co. (NASDAQ:LRCX) Holdings Decreased by Private Advisory Group LLC

Private Advisory Group LLC lowered its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 64.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 359 shares of the semiconductor company's stock after selling 645 shares during the quarter. Private Advisory Group LLC's holdings in Lam Research were worth $382,000 at the end of the most recent quarter.

• Is Lam Research the Semiconductor Stock You’ve Been Overlooking?

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Lam Research by 1.2% during the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company's stock valued at $11,519,576,000 after acquiring an additional 144,914 shares during the period. Fisher Asset Management LLC boosted its stake in Lam Research by 3.0% during the 4th quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company's stock valued at $2,329,037,000 after purchasing an additional 86,721 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Lam Research by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company's stock valued at $2,875,023,000 after purchasing an additional 142,903 shares during the period. Norges Bank bought a new stake in shares of Lam Research in the 4th quarter worth $1,414,111,000. Finally, Van ECK Associates Corp lifted its holdings in shares of Lam Research by 24.6% in the first quarter. Van ECK Associates Corp now owns 968,115 shares of the semiconductor company's stock valued at $940,592,000 after buying an additional 191,230 shares during the period. Institutional investors own 84.61% of the company's stock.

Insider Activity

In related news, CAO Christina Correia sold 647 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the completion of the sale, the chief accounting officer now owns 4,914 shares in the company, valued at approximately $5,219,945.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CAO Christina Correia sold 647 shares of the business's stock in a transaction on Monday, July 1st. The shares were sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the transaction, the chief accounting officer now owns 4,914 shares of the company's stock, valued at $5,219,945.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Neil J. Fernandes sold 4,409 shares of the stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the completion of the sale, the senior vice president now directly owns 6,857 shares of the company's stock, valued at $7,239,346.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,326 shares of company stock valued at $17,383,715. 0.32% of the stock is owned by insiders.

Wall Street Analyst Weigh In

• 3 Small-Cap Leaders Poised for Significant Growth

A number of research analysts recently issued reports on the company. UBS Group boosted their price target on shares of Lam Research from $1,130.00 to $1,150.00 and gave the stock a "buy" rating in a research report on Thursday, April 25th. B. Riley boosted their target price on shares of Lam Research from $1,130.00 to $1,325.00 and gave the stock a "buy" rating in a report on Thursday, June 20th. Barclays raised their target price on shares of Lam Research from $865.00 to $900.00 and gave the stock an "equal weight" rating in a report on Wednesday, June 5th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $1,200.00 price target on shares of Lam Research in a report on Thursday, August 1st. Finally, Raymond James increased their price objective on Lam Research from $950.00 to $1,060.00 and gave the company an "outperform" rating in a research report on Friday, June 7th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Lam Research presently has an average rating of "Moderate Buy" and a consensus target price of $1,006.10.

Get Our Latest Report on Lam Research

Lam Research Stock Up 1.2 %

• The S&P 500's 3 best 10-year performers are all in this industry

LRCX traded up $9.72 on Friday, reaching $845.44. 81,793 shares of the company traded hands, compared to its average volume of 1,065,528. Lam Research Co. has a 52-week low of $574.42 and a 52-week high of $1,130.00. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 1.84. The company has a market cap of $110.53 billion, a price-to-earnings ratio of 30.74, a PEG ratio of 2.41 and a beta of 1.48. The stock's 50 day moving average price is $959.74 and its 200-day moving average price is $945.33.

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

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

Lam Research announced that its Board of Directors has approved a share buyback program on Tuesday, May 21st that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to buy up to 8.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management 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.

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