Transform Wealth LLC Has $9.83 Million Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Transform Wealth LLC cut its holdings in Lam Research Co. (NASDAQ:LRCXGet Rating) by 0.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,994 shares of the semiconductor company’s stock after selling 170 shares during the quarter. Lam Research makes up 1.5% of Transform Wealth LLC’s portfolio, making the stock its 17th largest position. Transform Wealth LLC’s holdings in Lam Research were worth $9,833,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. IndexIQ Advisors LLC increased its position in Lam Research by 2.3% in the first quarter. IndexIQ Advisors LLC now owns 2,405 shares of the semiconductor company’s stock worth $1,293,000 after purchasing an additional 55 shares during the period. Waldron Private Wealth LLC boosted its holdings in Lam Research by 6.7% during the first quarter. Waldron Private Wealth LLC now owns 624 shares of the semiconductor company’s stock worth $336,000 after buying an additional 39 shares during the last quarter. AlphaCrest Capital Management LLC boosted its holdings in Lam Research by 47.3% during the first quarter. AlphaCrest Capital Management LLC now owns 3,272 shares of the semiconductor company’s stock worth $1,759,000 after buying an additional 1,051 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Lam Research by 6.0% during the first quarter. Sequoia Financial Advisors LLC now owns 3,956 shares of the semiconductor company’s stock worth $2,126,000 after buying an additional 224 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in Lam Research by 7.5% during the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 4,118 shares of the semiconductor company’s stock worth $2,214,000 after buying an additional 287 shares during the last quarter. 80.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LRCX has been the topic of a number of recent analyst reports. B. Riley cut Lam Research from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $625.00 to $525.00 in a report on Wednesday, June 15th. Cowen reduced their target price on Lam Research from $800.00 to $620.00 in a report on Thursday, July 28th. Deutsche Bank Aktiengesellschaft cut their price objective on Lam Research from $560.00 to $480.00 in a report on Monday, July 18th. Barclays cut Lam Research from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $625.00 to $450.00 in a report on Wednesday, August 3rd. Finally, Bank of America cut their price objective on Lam Research from $650.00 to $540.00 and set a “buy” rating on the stock in a report on Wednesday, June 29th. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $610.30.

Lam Research Stock Down 3.0 %

Lam Research stock traded down $11.64 during midday trading on Friday, reaching $375.19. The stock had a trading volume of 41,729 shares, compared to its average volume of 1,221,541. The firm’s fifty day simple moving average is $460.60 and its 200-day simple moving average is $472.24. Lam Research Co. has a 1-year low of $375.87 and a 1-year high of $731.85. The stock has a market capitalization of $51.40 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 0.91 and a beta of 1.36. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.82 and a current ratio of 2.69.

Lam Research (NASDAQ:LRCXGet Rating) last posted its quarterly earnings results on Wednesday, July 27th. The semiconductor company reported $8.83 earnings per share for the quarter, topping the consensus estimate of $7.30 by $1.53. The firm had revenue of $4.64 billion for the quarter, compared to analyst estimates of $4.21 billion. Lam Research had a return on equity of 75.71% and a net margin of 26.73%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $8.09 EPS. As a group, analysts expect that Lam Research Co. will post 37.31 EPS for the current fiscal year.

Lam Research Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Wednesday, September 14th will be given a dividend of $1.725 per share. This is a positive change from Lam Research’s previous quarterly dividend of $1.50. The ex-dividend date is Tuesday, September 13th. This represents a $6.90 annualized dividend and a dividend yield of 1.84%. Lam Research’s payout ratio is 21.07%.

Lam Research Company Profile

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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.

See Also

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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