Asset Dedication LLC Buys 230 Shares of Lam Research Co. (NASDAQ:LRCX)

Asset Dedication LLC raised its stake in Lam Research Co. (NASDAQ:LRCX) by 469.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 279 shares of the semiconductor company’s stock after acquiring an additional 230 shares during the quarter. Asset Dedication LLC’s holdings in Lam Research were worth $228,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LRCX. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Lam Research during the second quarter worth about $32,000. RFP Financial Group LLC grew its position in Lam Research by 52.2% in 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 in the last quarter. Hobbs Group Advisors LLC bought a new stake in Lam Research in the 2nd quarter worth about $40,000. Country Trust Bank bought a new stake in Lam Research in the 2nd quarter worth about $43,000. Finally, MFA Wealth Advisors LLC bought a new stake in Lam Research in the 2nd quarter worth about $45,000. 84.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LRCX shares. Morgan Stanley dropped their target price on shares of Lam Research from $92.90 to $77.40 and set an “equal weight” rating on the stock in a research note on Tuesday, September 17th. Cantor Fitzgerald dropped their target price on shares of Lam Research from $120.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, September 30th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. B. Riley boosted their target price on shares of Lam Research from $113.00 to $132.50 and gave the company a “buy” rating in a research note on Thursday, June 20th. Finally, UBS Group dropped their target price on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $141.28.

Insider Transactions at Lam Research

In other news, 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 transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.32% of the company’s stock.

Lam Research Stock Performance

Lam Research stock opened at $73.14 on Friday. The firm’s 50 day simple moving average is $80.29 and its 200 day simple moving average is $90.66. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $9.56 billion, a PE ratio of 2.69, a price-to-earnings-growth ratio of 1.75 and a beta of 1.47. Lam Research Co. has a 1-year low of $57.44 and a 1-year high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results 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 firm had revenue of $3.87 billion for the quarter, compared to analyst estimates 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 for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.60 EPS. As a group, analysts expect that Lam Research Co. will post 3.52 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 issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date was Tuesday, September 17th. Lam Research’s payout ratio is 3.38%.

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.