Lam Research Co. (NASDAQ:LRCX) Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC cut its position in Lam Research Co. (NASDAQ:LRCX) by 1.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,707 shares of the semiconductor company’s stock after selling 546 shares during the period. Calamos Advisors LLC’s holdings in Lam Research were worth $39,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Checchi Capital Advisers LLC increased its stake in shares of Lam Research by 1.0% in the 4th quarter. Checchi Capital Advisers LLC now owns 1,781 shares of the semiconductor company’s stock worth $1,395,000 after acquiring an additional 18 shares during the last quarter. Citizens Financial Group Inc. RI increased its position in Lam Research by 20.9% during the fourth quarter. Citizens Financial Group Inc. RI now owns 491 shares of the semiconductor company’s stock worth $384,000 after purchasing an additional 85 shares during the last quarter. Jump Financial LLC raised its stake in Lam Research by 108.1% during the fourth quarter. Jump Financial LLC now owns 2,283 shares of the semiconductor company’s stock worth $1,788,000 after purchasing an additional 1,186 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its stake in Lam Research by 2.3% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 139,698 shares of the semiconductor company’s stock worth $109,420,000 after purchasing an additional 3,124 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Lam Research by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 777,722 shares of the semiconductor company’s stock valued at $609,159,000 after purchasing an additional 14,902 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Timothy Archer sold 9,650 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $1,070.39, for a total value of $10,329,263.50. Following the sale, the chief executive officer now owns 84,639 shares in the company, valued at approximately $90,596,739.21. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the completion of the transaction, the chief accounting officer now owns 4,914 shares in the company, valued at $5,219,945.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Timothy Archer sold 9,650 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $1,070.39, for a total transaction of $10,329,263.50. Following the completion of the sale, the chief executive officer now directly owns 84,639 shares in the company, valued at approximately $90,596,739.21. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,326 shares of company stock valued at $17,383,715. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on LRCX. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,130.00 price target on shares of Lam Research in a research note on Thursday, August 1st. B. Riley upped their target price on shares of Lam Research from $1,130.00 to $1,325.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Raymond James increased their target price on shares of Lam Research from $950.00 to $1,060.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. TD Cowen boosted their price target on shares of Lam Research from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Lam Research from $1,100.00 to $950.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and an average price target of $1,006.10.

Lam Research Stock Performance

Shares of LRCX stock traded up $11.65 during trading hours on Friday, hitting $847.37. The stock had a trading volume of 1,067,121 shares, compared to its average volume of 1,071,567. The stock’s 50 day moving average is $955.97 and its 200 day moving average is $946.76. The firm has a market capitalization of $110.79 billion, a PE ratio of 31.16, a PEG ratio of 2.41 and a beta of 1.48. Lam Research Co. has a twelve month low of $574.42 and a twelve month high of $1,130.00. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 1.84.

Lam Research’s stock is set to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly created shares will be issued to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.58 by $0.56. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same period in the previous year, the business posted $5.98 earnings per share. The business’s revenue was up 20.7% compared to the same quarter last year. As a group, research analysts forecast that Lam Research Co. will post 35.09 earnings per share for the current fiscal year.

Lam Research announced that its board has approved a share repurchase program on Tuesday, May 21st that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to buy up to 8.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Lam Research Profile

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.