Heritage Wealth Management Inc. Purchases Shares of 254 Lam Research Co. (NASDAQ:LRCX)

Heritage Wealth Management Inc. purchased a new stake in shares of Lam Research Co. (NASDAQ:LRCX) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 254 shares of the semiconductor company’s stock, valued at approximately $276,000.

A number of other institutional investors and hedge funds have also bought and sold shares of LRCX. Swedbank AB bought a new stake in Lam Research during the first quarter valued at about $192,668,000. Van ECK Associates Corp raised its holdings in Lam Research by 24.6% during the first quarter. Van ECK Associates Corp now owns 968,115 shares of the semiconductor company’s stock valued at $940,592,000 after acquiring an additional 191,230 shares during the period. Vanguard Group Inc. raised its holdings in Lam Research by 1.2% during the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after acquiring an additional 144,914 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Lam Research by 5.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock valued at $2,875,023,000 after acquiring an additional 142,903 shares during the period. Finally, Natixis increased its holdings in shares of Lam Research by 1,267.1% in the first quarter. Natixis now owns 142,967 shares of the semiconductor company’s stock worth $138,902,000 after purchasing an additional 132,509 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Lam Research news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the sale, the chief accounting officer now owns 4,267 shares in the company, valued at $3,488,315.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Lam Research news, SVP Neil J. Fernandes sold 16,200 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $105.70, for a total transaction of $1,712,323.80. Following the completion of the sale, the senior vice president now owns 52,370 shares in the company, valued at $5,535,456.63. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Christina Correia sold 647 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.

Lam Research Stock Up 2.1 %

Shares of NASDAQ LRCX opened at $814.09 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. The firm has a market capitalization of $106.43 billion, a price-to-earnings ratio of 29.94, a PEG ratio of 1.51 and a beta of 1.48. The stock has a 50 day moving average price of $95.60 and a 200 day moving average price of $96.91. Lam Research Co. has a 52-week low of $574.42 and a 52-week high of $1,130.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.05. The firm had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. Lam Research’s quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 earnings per share. Sell-side analysts expect that Lam Research Co. will post 35.2 earnings per share for the current year.

Lam Research Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.92 dividend on an annualized basis and a yield of 0.11%. Lam Research’s dividend payout ratio is currently 33.84%.

Analyst Ratings Changes

Several brokerages have recently issued reports on LRCX. StockNews.com cut Lam Research from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Mizuho reduced their target price on Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. UBS Group reduced their target price on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. TD Cowen lifted their target price on Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $113.00 price target on shares of Lam Research in a research report on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.23.

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.