Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Wright Investors Service Inc.

Wright Investors Service Inc. grew its holdings in Lam Research Co. (NASDAQ:LRCX) by 36.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,906 shares of the semiconductor company’s stock after buying an additional 514 shares during the period. Wright Investors Service Inc.’s holdings in Lam Research were worth $1,555,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Lam Research in the 2nd quarter valued at $32,000. RFP Financial Group LLC increased its holdings in 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 period. Hobbs Group Advisors LLC purchased a new stake in Lam Research during the 2nd quarter worth about $40,000. Country Trust Bank purchased a new stake in Lam Research during the 2nd quarter worth about $43,000. Finally, MFA Wealth Advisors LLC purchased a new stake in Lam Research during the 2nd quarter worth about $45,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

NASDAQ:LRCX traded up $0.43 during mid-day trading on Friday, reaching $81.54. The stock had a trading volume of 7,589,684 shares, compared to its average volume of 11,054,300. 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 $10.66 billion, a price-to-earnings ratio of 3.00, a PEG ratio of 1.51 and a beta of 1.47. Lam Research Co. has a twelve month low of $57.44 and a twelve month high of $113.00. The business has a 50 day simple moving average of $95.29 and a 200 day simple moving average of $96.75.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $0.81 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 the consensus estimate of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The firm’s revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 earnings per share. On average, analysts expect that Lam Research Co. will post 35.2 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

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

Insider Activity

In other news, SVP Neil J. Fernandes sold 16,200 shares of Lam Research stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 52,370 shares in the company, valued at approximately $5,535,456.63. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Neil J. Fernandes sold 16,200 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 52,370 shares of the company’s stock, valued at approximately $5,535,456.63. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on LRCX shares. UBS Group cut their price target on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Wells Fargo & Company cut their price target on Lam Research from $1,000.00 to $880.00 and set an “equal weight” rating on the stock in a report on Thursday. B. Riley upped their price target on Lam Research from $113.00 to $132.50 and gave the stock a “buy” rating in a report on Thursday, June 20th. Cantor Fitzgerald dropped their price objective on Lam Research from $120.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, September 30th. Finally, TD Cowen boosted their target price on Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and an average target price of $141.28.

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.