Brown Advisory Inc. Purchases 70 Shares of Lam Research Co. (NASDAQ:LRCX)

Posted by Defense World Staff on Aug 15th, 2023

Brown Advisory Inc. boosted its position in shares of Lam Research Co. (NASDAQ:LRCX – Free Report) by 2.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,500 shares of the semiconductor company’s stock after purchasing an additional 70 shares during the period. Brown Advisory Inc.’s holdings in Lam Research were worth $1,855,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Aspire Private Capital LLC purchased a new stake in Lam Research in the 1st quarter valued at about $14,424,035,000. Cranbrook Wealth Management LLC boosted its position in Lam Research by 450.0% in the 1st quarter. Cranbrook Wealth Management LLC now owns 55 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 45 shares during the period. Webster Bank N. A. purchased a new stake in Lam Research in the 1st quarter valued at about $33,000. Western Pacific Wealth Management LP boosted its position in Lam Research by 41.5% in the 4th quarter. Western Pacific Wealth Management LP now owns 75 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 22 shares during the period. Finally, Activest Wealth Management purchased a new stake in Lam Research in the 1st quarter valued at about $44,000. 85.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on LRCX shares. Berenberg Bank upped their price target on shares of Lam Research from $530.00 to $555.00 and gave the stock a “buy” rating in a research report on Thursday, April 20th. Citigroup upped their price target on shares of Lam Research from $695.00 to $800.00 and gave the stock a “buy” rating in a research report on Thursday, July 27th. Evercore ISI upped their price target on shares of Lam Research from $525.00 to $540.00 and gave the stock an “outperform” rating in a research report on Thursday, April 20th. B. Riley upped their price target on shares of Lam Research from $500.00 to $650.00 in a research report on Monday, July 17th. Finally, Mizuho upped their price target on shares of Lam Research from $520.00 to $680.00 and gave the stock a “buy” rating in a research report on Monday, July 24th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $569.47.

Read Our Latest Research Report on LRCX

Lam Research Stock Up 2.3 %

NASDAQ:LRCX opened at $667.20 on Tuesday. The firm has a market capitalization of $89.63 billion, a P/E ratio of 20.13, a PEG ratio of 3.94 and a beta of 1.46. Lam Research Co. has a 1-year low of $299.59 and a 1-year high of $726.53. The company’s fifty day moving average price is $645.60 and its 200-day moving average price is $564.92. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.16 and a quick ratio of 2.01.

Lam Research (NASDAQ:LRCX – Get Free Report) last released its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $5.98 earnings per share for the quarter, topping analysts’ consensus estimates of $5.03 by $0.95. The firm had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.13 billion. Lam Research had a net margin of 25.88% and a return on equity of 57.40%. The business’s quarterly revenue was down 30.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $8.83 earnings per share. As a group, equities research analysts anticipate that Lam Research Co. will post 26.73 EPS for the current year.

Insider Transactions at Lam Research

In related news, SVP Vahid Vahedi sold 13,756 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $717.46, for a total transaction of $9,869,379.76. Following the sale, the senior vice president now owns 26,483 shares in the company, valued at $19,000,493.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Douglas R. Bettinger sold 1,894 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $705.86, for a total transaction of $1,336,898.84. Following the sale, the chief financial officer now owns 96,713 shares in the company, valued at $68,265,838.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Vahid Vahedi sold 13,756 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $717.46, for a total transaction of $9,869,379.76. Following the sale, the senior vice president now owns 26,483 shares in the company, valued at approximately $19,000,493.18. The disclosure for this sale can be found here. Insiders have sold 18,159 shares of company stock worth $12,926,580 over the last 90 days. 0.35% of the stock is currently owned by company insiders.

Lam Research Company Profile

(Free Report)

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.