Private Advisor Group LLC Increases Holdings in Lam Research Co. (NASDAQ:LRCX)

Private Advisor Group LLC raised its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 8.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,374 shares of the semiconductor company’s stock after buying an additional 480 shares during the period. Private Advisor Group LLC’s holdings in Lam Research were worth $5,201,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Lam Research during the 2nd quarter valued at $32,000. RFP Financial Group LLC grew its position 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 valued at $37,000 after acquiring an additional 12 shares during the period. Hobbs Group Advisors LLC bought a new stake in shares of Lam Research during the 2nd quarter valued at $40,000. Country Trust Bank bought a new stake in shares of Lam Research during the 2nd quarter valued at $43,000. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Lam Research during the 2nd quarter valued at $45,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Stock Performance

Lam Research stock opened at $77.68 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. Lam Research Co. has a 1-year low of $57.44 and a 1-year high of $113.00. The firm has a market capitalization of $100.68 billion, a P/E ratio of 26.79, a price-to-earnings-growth ratio of 1.89 and a beta of 1.47. The company’s 50-day moving average is $79.21 and its 200 day moving average is $89.76.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same period in the prior year, the company posted $6.85 EPS. The firm’s revenue for the quarter was up 19.7% on a year-over-year basis. Research analysts forecast that Lam Research Co. will post 3.23 EPS for the current 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 given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is currently 31.72%.

Wall Street Analysts Forecast Growth

LRCX has been the subject of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and set a $100.00 price objective on shares of Lam Research in a research report on Thursday. B. Riley dropped their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday. Citigroup dropped their target price on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft dropped their target price 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. Finally, Mizuho dropped their target price on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $97.03.

Insider Buying and Selling

In other Lam Research news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction dated 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 directly owns 4,267 shares in the company, valued at $3,488,315.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

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.