HGK Asset Management Inc. lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 8.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,686 shares of the semiconductor company’s stock after buying an additional 300 shares during the quarter. HGK Asset Management Inc.’s holdings in Lam Research were worth $637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd purchased a new position in shares of Lam Research during the first quarter valued at about $116,000. NuWave Investment Management LLC purchased a new position in shares of Lam Research during the second quarter valued at about $100,000. Psagot Investment House Ltd. increased its position in shares of Lam Research by 200.0% during the first quarter. Psagot Investment House Ltd. now owns 600 shares of the semiconductor company’s stock valued at $122,000 after buying an additional 400 shares during the period. Field & Main Bank increased its position in shares of Lam Research by 127.3% during the first quarter. Field & Main Bank now owns 625 shares of the semiconductor company’s stock valued at $127,000 after buying an additional 350 shares during the period. Finally, Clear Perspective Advisors LLC purchased a new position in shares of Lam Research during the second quarter valued at about $108,000. Institutional investors own 86.22% of the company’s stock.

LRCX has been the topic of several research analyst reports. Citigroup upgraded shares of Lam Research from a “neutral” rating to a “buy” rating and reduced their price target for the company from $234.88 to $200.00 in a research report on Monday, May 14th. UBS Group upgraded shares of Lam Research from a “neutral” rating to a “buy” rating and set a $220.00 price target on the stock in a research report on Tuesday, June 26th. Bank of America reduced their price target on shares of Lam Research from $305.00 to $285.00 and set a “buy” rating on the stock in a research report on Monday, June 11th. DA Davidson reiterated a “buy” rating on shares of Lam Research in a research report on Monday, July 23rd. Finally, Stifel Nicolaus reduced their price target on shares of Lam Research from $295.00 to $279.00 and set a “buy” rating on the stock in a research report on Friday, July 27th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $249.80.

Shares of LRCX opened at $171.28 on Tuesday. The stock has a market capitalization of $26.77 billion, a price-to-earnings ratio of 9.58, a price-to-earnings-growth ratio of 0.66 and a beta of 1.42. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.31 and a current ratio of 2.90. Lam Research Co. has a fifty-two week low of $156.52 and a fifty-two week high of $234.88.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Thursday, July 26th. The semiconductor company reported $5.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.94 by $0.37. The business had revenue of $3.13 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Lam Research had a net margin of 21.49% and a return on equity of 47.14%. The business’s revenue was up 33.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.11 earnings per share. equities analysts predict that Lam Research Co. will post 15.51 earnings per share for the current year.

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 thin film deposition products, including SABRE electrochemical deposition products for copper damascene manufacturing; ALTUS systems to deposit conformal atomic layer films for tungsten metallization applications; VECTOR plasma-enhanced chemical vapor deposition (CVD) and atomic layer deposition systems to deposit oxides, nitrides, and carbides for hardmasks, multiple patterning films, anti-reflective layers, multi-layer stack films, and diffusion barriers; and Striker atomic layer deposition systems that deliver conformal dielectric films for spacer-based patterning and liner applications in various advanced memory and logic structures.

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

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