TRUE Private Wealth Advisors Makes New $79,000 Investment in Lam Research Co. (NASDAQ:LRCX)

TRUE Private Wealth Advisors acquired a new position in Lam Research Co. (NASDAQ:LRCX) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 420 shares of the semiconductor company’s stock, valued at approximately $79,000.

Other hedge funds have also bought and sold shares of the company. Global Retirement Partners LLC boosted its position in Lam Research by 119.4% in the first quarter. Global Retirement Partners LLC now owns 147 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 80 shares during the last quarter. Hexavest Inc. purchased a new position in Lam Research in the second quarter worth $28,000. Zions Bancorporation N.A. purchased a new position in Lam Research in the first quarter worth $28,000. Strategy Asset Managers LLC purchased a new position in Lam Research in the first quarter worth $33,000. Finally, Stevens First Principles Investment Advisors purchased a new position in Lam Research in the first quarter worth $36,000. 86.39% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Seshasayee Varadarajan sold 20,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $200.00, for a total value of $4,000,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kevin Jennings sold 1,122 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $210.07, for a total value of $235,698.54. The disclosure for this sale can be found here. Insiders sold a total of 25,109 shares of company stock worth $5,072,969 over the last 90 days. Corporate insiders own 0.44% of the company’s stock.

NASDAQ LRCX traded up $5.29 during trading on Friday, reaching $204.22. The company’s stock had a trading volume of 58,246 shares, compared to its average volume of 1,982,820. The stock has a market capitalization of $30.84 billion, a PE ratio of 14.04, a P/E/G ratio of 1.26 and a beta of 1.61. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.61 and a quick ratio of 2.96. The firm has a fifty day moving average of $196.47 and a 200 day moving average of $187.67. Lam Research Co. has a one year low of $122.64 and a one year high of $218.49.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, July 31st. The semiconductor company reported $3.62 earnings per share for the quarter, topping analysts’ consensus estimates of $3.40 by $0.22. The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.37 billion. Lam Research had a return on equity of 43.82% and a net margin of 22.70%. The company’s quarterly revenue was down 24.5% compared to the same quarter last year. During the same period in the prior year, the company earned $5.31 EPS. Research analysts expect that Lam Research Co. will post 13.57 earnings per share for the current fiscal year.

Several brokerages have issued reports on LRCX. Mizuho restated a “hold” rating on shares of Lam Research in a research note on Thursday, April 25th. Zacks Investment Research upgraded Lam Research from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. KeyCorp boosted their target price on Lam Research from $236.00 to $252.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. DA Davidson lowered Lam Research from a “buy” rating to a “neutral” rating and lowered their target price for the company from $225.00 to $200.00 in a research note on Monday, July 8th. Finally, UBS Group boosted their target price on Lam Research from $170.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $224.69.

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.

Further Reading: When can a hold rating present a buying opportunity?

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

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