Foster Victor Wealth Advisors LLC raised its position in Lam Research Co. (NASDAQ:LRCX) by 80.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,735 shares of the semiconductor company’s stock after purchasing an additional 4,775 shares during the period. Lam Research comprises about 1.4% of Foster Victor Wealth Advisors LLC’s investment portfolio, making the stock its 18th largest position. Foster Victor Wealth Advisors LLC’s holdings in Lam Research were worth $2,492,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Lcnb Corp lifted its holdings in Lam Research by 2.2% in the 2nd quarter. Lcnb Corp now owns 2,306 shares of the semiconductor company’s stock valued at $433,000 after purchasing an additional 50 shares in the last quarter. Cypress Capital LLC lifted its holdings in shares of Lam Research by 1.4% during the 2nd quarter. Cypress Capital LLC now owns 4,126 shares of the semiconductor company’s stock worth $775,000 after acquiring an additional 56 shares during the period. Confluence Wealth Management LLC lifted its holdings in shares of Lam Research by 2.0% during the 2nd quarter. Confluence Wealth Management LLC now owns 2,906 shares of the semiconductor company’s stock worth $546,000 after acquiring an additional 56 shares during the period. V Wealth Advisors LLC lifted its holdings in shares of Lam Research by 0.5% during the 2nd quarter. V Wealth Advisors LLC now owns 11,960 shares of the semiconductor company’s stock worth $2,261,000 after acquiring an additional 65 shares during the period. Finally, CWM LLC lifted its holdings in shares of Lam Research by 37.7% during the 2nd quarter. CWM LLC now owns 252 shares of the semiconductor company’s stock worth $47,000 after acquiring an additional 69 shares during the period. Institutional investors own 88.23% of the company’s stock.
Several research analysts have recently weighed in on the stock. Cfra set a $210.00 price objective on shares of Lam Research and gave the stock a “hold” rating in a report on Saturday, August 31st. Needham & Company LLC raised their price target on shares of Lam Research from $220.00 to $250.00 and gave the company a “buy” rating in a report on Friday, September 13th. Evercore ISI upgraded shares of Lam Research from an “in-line” rating to an “outperform” rating in a report on Tuesday, September 3rd. ValuEngine lowered shares of Lam Research from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, BidaskClub raised shares of Lam Research from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Twelve investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Lam Research presently has a consensus rating of “Buy” and an average target price of $227.41.
Shares of LRCX stock traded up $2.41 during mid-day trading on Friday, reaching $237.03. 89,904 shares of the company were exchanged, compared to its average volume of 1,635,822. Lam Research Co. has a fifty-two week low of $122.64 and a fifty-two week high of $244.98. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.96 and a current ratio of 3.61. The company has a market capitalization of $32.98 billion, a P/E ratio of 16.46, a P/E/G ratio of 1.54 and a beta of 1.65. The business’s 50 day simple moving average is $225.44 and its 200 day simple moving average is $200.39.
Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $3.62 earnings per share for the quarter, topping analysts’ consensus estimates of $3.40 by $0.22. Lam Research had a net margin of 22.70% and a return on equity of 43.72%. The business had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter last year, the company earned $5.31 earnings per share. The business’s quarterly revenue was down 24.5% compared to the same quarter last year. On average, analysts forecast that Lam Research Co. will post 13.61 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Tuesday, October 1st will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Monday, September 30th. This is an increase from Lam Research’s previous quarterly dividend of $1.10. Lam Research’s payout ratio is currently 31.62%.
In other Lam Research news, SVP Vahid Vahedi sold 12,007 shares of Lam Research stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $220.00, for a total value of $2,641,540.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Sarah A. O’dowd sold 22,140 shares of Lam Research stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $233.77, for a total transaction of $5,175,667.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,997 shares of company stock valued at $14,854,855. 0.43% of the stock is currently owned by corporate insiders.
About Lam Research
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.
See Also: What is the quiet period?
Receive News & Ratings for Lam Research Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lam Research and related companies with MarketBeat.com's FREE daily email newsletter.