Westside Investment Management Inc. Invests $440,000 in Lam Research Co. (NASDAQ:LRCX)

Westside Investment Management Inc. purchased a new stake in Lam Research Co. (NASDAQ:LRCX) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,345 shares of the semiconductor company’s stock, valued at approximately $440,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Global Retirement Partners LLC increased its stake in shares of Lam Research by 119.4% during the first quarter. Global Retirement Partners LLC now owns 147 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 80 shares during the period. Hexavest Inc. purchased a new stake in Lam Research during the second quarter worth about $28,000. Zions Bancorporation N.A. purchased a new stake in Lam Research during the first quarter worth about $28,000. Strategy Asset Managers LLC purchased a new stake in shares of Lam Research in the first quarter valued at about $33,000. Finally, Stevens First Principles Investment Advisors purchased a new stake in shares of Lam Research in the first quarter valued at about $36,000. Institutional investors own 86.32% of the company’s stock.

Several analysts have issued reports on the stock. BidaskClub raised shares of Lam Research from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd. Zacks Investment Research raised shares of Lam Research from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Deutsche Bank upped their price objective on shares of Lam Research from $180.00 to $195.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. Mizuho reissued a “hold” rating on shares of Lam Research in a research note on Thursday, April 25th. Finally, ValuEngine lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Thursday. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $224.69.

Shares of Lam Research stock traded down $10.38 during trading hours on Monday, hitting $193.71. The company’s stock had a trading volume of 90,998 shares, compared to its average volume of 1,811,692. The firm has a fifty day moving average price of $191.77. The firm has a market cap of $30.60 billion, a P/E ratio of 13.32, a PEG ratio of 1.18 and a beta of 1.61. Lam Research Co. has a 1-year low of $122.64 and a 1-year high of $218.49. The company has a quick ratio of 2.79, a current ratio of 3.61 and a debt-to-equity ratio of 0.82.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $3.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.40 by $0.22. Lam Research had a net margin of 22.70% and a return on equity of 43.82%. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.37 billion. During the same period last year, the firm posted $5.31 EPS. The company’s revenue for the quarter was down 24.5% on a year-over-year basis. Analysts anticipate that Lam Research Co. will post 13.88 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Wednesday, June 12th were paid a dividend of $1.10 per share. The ex-dividend date of this dividend was Tuesday, June 11th. This represents a $4.40 annualized dividend and a yield of 2.27%. Lam Research’s payout ratio is 30.24%.

In other news, insider Kevin Jennings sold 1,122 shares of Lam Research stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $210.07, for a total value of $235,698.54. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Seshasayee Varadarajan sold 20,000 shares of Lam Research stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $200.00, for a total transaction of $4,000,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,109 shares of company stock worth $5,072,969. 0.44% of the stock is owned by corporate insiders.

About Lam Research

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: Cash Flow Analysis in Stock Selection

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

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