Optimum Investment Advisors Reduces Holdings in Lam Research Co. (LRCX)

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Optimum Investment Advisors decreased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 22.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,960 shares of the semiconductor company’s stock after selling 1,425 shares during the quarter. Optimum Investment Advisors’ holdings in Lam Research were worth $675,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of LRCX. Empire Life Investments Inc. grew its holdings in shares of Lam Research by 0.5% during the fourth quarter. Empire Life Investments Inc. now owns 132,159 shares of the semiconductor company’s stock worth $17,996,000 after buying an additional 667 shares during the last quarter. Financial Gravity Companies Inc. purchased a new position in shares of Lam Research during the fourth quarter worth about $315,000. BB&T Securities LLC grew its holdings in shares of Lam Research by 106.6% during the fourth quarter. BB&T Securities LLC now owns 10,784 shares of the semiconductor company’s stock worth $1,468,000 after buying an additional 5,565 shares during the last quarter. IndexIQ Advisors LLC grew its holdings in shares of Lam Research by 57.3% during the fourth quarter. IndexIQ Advisors LLC now owns 34,531 shares of the semiconductor company’s stock worth $4,702,000 after buying an additional 12,576 shares during the last quarter. Finally, M&T Bank Corp grew its holdings in shares of Lam Research by 2.9% during the fourth quarter. M&T Bank Corp now owns 16,286 shares of the semiconductor company’s stock worth $2,219,000 after buying an additional 453 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors.

LRCX stock opened at $175.30 on Friday. Lam Research Co. has a 12-month low of $122.64 and a 12-month high of $234.88. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.39 and a quick ratio of 2.61. The company has a market cap of $26.75 billion, a PE ratio of 9.81, a P/E/G ratio of 1.05 and a beta of 1.50.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, January 23rd. The semiconductor company reported $3.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.67 by $0.20. Lam Research had a net margin of 26.69% and a return on equity of 48.08%. The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the firm earned $4.34 EPS. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, analysts forecast that Lam Research Co. will post 13.9 earnings per share for the current year.

Lam Research declared that its Board of Directors has initiated a stock buyback program on Wednesday, January 23rd that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the semiconductor company to purchase up to 23% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

In other news, SVP Kevin Jennings sold 1,692 shares of Lam Research stock in a transaction that occurred on Wednesday, February 6th. The shares were sold at an average price of $180.00, for a total transaction of $304,560.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christine Heckart sold 2,050 shares of Lam Research stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $172.98, for a total transaction of $354,609.00. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by company insiders.

A number of equities research analysts have weighed in on the company. DA Davidson lowered their price objective on Lam Research to $225.00 in a report on Monday, October 15th. UBS Group lowered Lam Research from a “positive” rating to a “neutral” rating in a report on Tuesday, October 23rd. Needham & Company LLC assumed coverage on Lam Research in a report on Friday, December 21st. They issued a “buy” rating and a $180.00 price objective on the stock. B. Riley lifted their price objective on Lam Research to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 17th. Finally, Susquehanna Bancshares reaffirmed a “neutral” rating and issued a $165.00 price objective (down previously from $225.00) on shares of Lam Research in a report on Tuesday, October 23rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $216.39.

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Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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

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