Lam Research Co. (NASDAQ:LRCX) Position Lifted by Eldred Rock Partners LLC

Eldred Rock Partners LLC grew its stake in Lam Research Co. (NASDAQ:LRCX) by 4.3% during the third quarter, Holdings Channel.com reports. The fund owned 15,370 shares of the semiconductor company’s stock after purchasing an additional 630 shares during the quarter. Lam Research makes up 4.2% of Eldred Rock Partners LLC’s investment portfolio, making the stock its 5th biggest position. Eldred Rock Partners LLC’s holdings in Lam Research were worth $12,579,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Lam Research in the 2nd quarter valued at about $32,000. RFP Financial Group LLC lifted its stake in shares of Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 12 shares during the last quarter. Raleigh Capital Management Inc. boosted its position in Lam Research by 78.6% during the fourth quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 22 shares in the last quarter. Hobbs Group Advisors LLC purchased a new position in Lam Research in the second quarter valued at about $40,000. Finally, Country Trust Bank bought a new position in Lam Research in the second quarter worth about $43,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LRCX shares. Raymond James lifted their price objective on shares of Lam Research from $95.00 to $106.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. Mizuho lowered their price objective on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Cantor Fitzgerald lowered their price target on Lam Research from $120.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, September 30th. B. Riley upped their price objective on shares of Lam Research from $113.00 to $132.50 and gave the company a “buy” rating in a report on Thursday, June 20th. Finally, TD Cowen lifted their target price on shares of Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $141.28.

Insider Transactions at Lam Research

In related news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the transaction, the chief accounting officer now owns 4,267 shares in the company, valued at $3,488,315.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Lam Research news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the transaction, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Neil J. Fernandes sold 16,200 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $105.70, for a total transaction of $1,712,323.80. Following the transaction, the senior vice president now directly owns 52,370 shares in the company, valued at approximately $5,535,456.63. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.

Lam Research Stock Performance

Shares of LRCX traded up $0.43 during mid-day trading on Friday, reaching $81.54. The company had a trading volume of 7,589,684 shares, compared to its average volume of 11,054,300. The stock has a market capitalization of $10.66 billion, a P/E ratio of 3.00, a PEG ratio of 1.51 and a beta of 1.47. Lam Research Co. has a 52-week low of $57.44 and a 52-week high of $113.00. The stock has a 50 day moving average of $95.29 and a two-hundred day moving average of $96.72. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52.

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

Lam Research Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were issued a $0.23 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.92 dividend on an annualized basis and a yield of 1.13%. Lam Research’s payout ratio is 33.84%.

About Lam Research

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.