Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. increased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 38.6% in the 3rd quarter, Holdings Channel reports. The firm owned 3,124 shares of the semiconductor company’s stock after purchasing an additional 870 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Lam Research were worth $2,549,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Lam Research during the second quarter valued at approximately $32,000. RFP Financial Group LLC grew its holdings 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 worth $37,000 after buying an additional 12 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of Lam Research in the second quarter valued at about $40,000. Country Trust Bank purchased a new position in shares of Lam Research in the second quarter worth about $43,000. Finally, MFA Wealth Advisors LLC acquired a new position in Lam Research during the second quarter worth about $45,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Lam Research news, CAO Christina Correia sold 647 shares of the 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 sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.32% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. B. Riley cut their price objective on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday. Stifel Nicolaus reiterated a “buy” rating and set a $100.00 price objective (down previously from $105.00) on shares of Lam Research in a research report on Thursday. Wells Fargo & Company lowered their price objective on Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Thursday. Mizuho reduced their price target on Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Finally, UBS Group lowered their price target on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $97.03.

Lam Research Stock Performance

Shares of Lam Research stock opened at $76.57 on Friday. The stock has a market capitalization of $10.01 billion, a price-to-earnings ratio of 2.82, a price-to-earnings-growth ratio of 1.75 and a beta of 1.47. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. The business has a 50-day moving average of $79.60 and a 200 day moving average of $89.94. Lam Research Co. has a 12 month low of $57.44 and a 12 month high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. The business had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 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 19.7% compared to the same quarter last year. During the same quarter last year, the firm posted $6.85 earnings per share. As a group, sell-side analysts forecast that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend was Tuesday, September 17th. 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.