Vest Financial LLC boosted its holdings in Lam Research Co. (NASDAQ:LRCX – Free Report) by 68.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 35,991 shares of the semiconductor company’s stock after buying an additional 14,658 shares during the period. Vest Financial LLC’s holdings in Lam Research were worth $29,372,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the business. Means Investment CO. Inc. raised its holdings in Lam Research by 1.8% in the third quarter. Means Investment CO. Inc. now owns 13,431 shares of the semiconductor company’s stock valued at $10,961,000 after buying an additional 231 shares during the period. Harfst & Associates Inc. raised its stake in shares of Lam Research by 38.7% during the third quarter. Harfst & Associates Inc. now owns 2,289 shares of the semiconductor company’s stock valued at $1,868,000 after purchasing an additional 639 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of Lam Research by 8.4% during the third quarter. Commonwealth Equity Services LLC now owns 42,489 shares of the semiconductor company’s stock valued at $34,675,000 after purchasing an additional 3,283 shares during the period. Capital Investment Advisors LLC raised its stake in shares of Lam Research by 27.8% during the third quarter. Capital Investment Advisors LLC now owns 2,390 shares of the semiconductor company’s stock valued at $1,951,000 after purchasing an additional 520 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Lam Research by 95.5% during the third quarter. Blue Trust Inc. now owns 2,898 shares of the semiconductor company’s stock valued at $2,365,000 after purchasing an additional 1,416 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.
Lam Research Stock Performance
LRCX stock traded down $0.30 during mid-day trading on Friday, reaching $72.84. The company had a trading volume of 18,493,382 shares, compared to its average volume of 11,155,063. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $9.52 billion, a P/E ratio of 2.68, a P/E/G ratio of 1.75 and a beta of 1.47. Lam Research Co. has a one year low of $57.44 and a one year high of $113.00. The stock’s 50-day simple moving average is $80.15 and its two-hundred day simple moving average is $90.44.
Lam Research (NASDAQ:LRCX – Get Free Report) last posted its earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.05. The company had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period last year, the business posted $0.60 earnings per share. Research analysts anticipate that Lam Research Co. will post 3.52 EPS for the current year.
Lam Research Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend was Tuesday, September 17th. Lam Research’s dividend payout ratio is currently 3.38%.
Insider Activity at Lam Research
In related news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the sale, the chief accounting officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.32% of the company’s stock.
Analyst Upgrades and Downgrades
LRCX has been the topic of a number of analyst reports. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Cantor Fitzgerald decreased their price target on shares of Lam Research from $120.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, September 30th. TD Cowen raised their price target on shares of Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Mizuho decreased their price target on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Finally, Wells Fargo & Company decreased their price target on shares of Lam Research from $1,000.00 to $880.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $141.28.
Lam Research Company 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.