Commonwealth Equity Services LLC Grows Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Commonwealth Equity Services LLC grew its position in shares of Lam Research Co. (NASDAQ:LRCX) by 8.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,489 shares of the semiconductor company’s stock after purchasing an additional 3,283 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Lam Research were worth $34,675,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Fortitude Family Office LLC boosted its position in Lam Research by 16.7% during the second quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock valued at $67,000 after buying an additional 9 shares during the period. Thomasville National Bank boosted its holdings in Lam Research by 1.5% during the 2nd quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock valued at $865,000 after acquiring an additional 12 shares during the period. Ignite Planners LLC grew its position in Lam Research by 2.8% during the 2nd quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock worth $484,000 after acquiring an additional 12 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its stake in Lam Research by 3.7% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock worth $357,000 after purchasing an additional 12 shares during the period. Finally, RFP Financial Group LLC boosted its stake in shares of Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 12 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Lam Research

In other news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction on 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

LRCX has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Mizuho cut their target price on Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Needham & Company LLC restated a “buy” rating and set a $113.00 price target on shares of Lam Research in a report on Thursday, August 1st. Citigroup dropped their price objective on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a report on Monday, September 16th. Finally, 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 research note on Thursday, September 12th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $141.28.

Lam Research Stock Performance

Lam Research stock opened at $72.84 on Tuesday. Lam Research Co. has a 12 month low of $57.44 and a 12 month high of $113.00. 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 business’s fifty day simple moving average is $79.99 and its two-hundred day simple moving average is $90.26. The company has a market capitalization of $9.52 billion, a price-to-earnings ratio of 2.68, a price-to-earnings-growth ratio of 1.75 and a beta of 1.47.

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 the consensus estimate of $0.76 by $0.05. The company had revenue of $3.87 billion for 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%. Lam Research’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 EPS. As a group, equities analysts predict that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.92 dividend on an annualized basis and a yield of 1.26%. Lam Research’s payout ratio is currently 3.38%.

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.