BTC Capital Management Inc. lifted its stake in Lam Research Co. (NASDAQ:LRCX) by 2.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,308 shares of the semiconductor company’s stock after buying an additional 265 shares during the quarter. BTC Capital Management Inc.’s holdings in Lam Research were worth $2,847,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of LRCX. Lcnb Corp grew its position in Lam Research by 2.2% in the second quarter. Lcnb Corp now owns 2,306 shares of the semiconductor company’s stock worth $433,000 after acquiring an additional 50 shares during the period. Wealthfront Advisers LLC grew its position in Lam Research by 1.2% in the third quarter. Wealthfront Advisers LLC now owns 4,374 shares of the semiconductor company’s stock worth $1,011,000 after acquiring an additional 50 shares during the period. Cypress Capital LLC grew its position in Lam Research by 1.4% in the second 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 grew its position in Lam Research by 2.0% in the second 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. Finally, V Wealth Advisors LLC boosted its position in shares of Lam Research by 0.5% during the second quarter. V Wealth Advisors LLC now owns 11,960 shares of the semiconductor company’s stock worth $2,261,000 after buying an additional 65 shares during the period. Hedge funds and other institutional investors own 88.68% of the company’s stock.
In related news, SVP Vahid Vahedi sold 12,007 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $220.00, for a total transaction of $2,641,540.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Douglas R. Bettinger sold 18,693 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $279.03, for a total transaction of $5,215,907.79. The disclosure for this sale can be found here. Insiders sold 88,202 shares of company stock valued at $21,620,104 over the last quarter. Insiders own 0.43% of the company’s stock.
Shares of LRCX traded down $1.43 during midday trading on Friday, reaching $272.68. 1,373,000 shares of the stock were exchanged, compared to its average volume of 2,042,073. The business’s 50-day moving average price is $247.19 and its 200 day moving average price is $210.36. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.59 and a quick ratio of 2.99. The company has a market capitalization of $40.32 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 1.36 and a beta of 1.67. Lam Research Co. has a twelve month low of $122.64 and a twelve month high of $282.88.
Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $3.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.01 by $0.17. The business had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.17 billion. Lam Research had a net margin of 22.38% and a return on equity of 43.11%. The business’s revenue was down 7.1% on a year-over-year basis. During the same period last year, the firm posted $3.36 earnings per share. As a group, equities research analysts expect that Lam Research Co. will post 15.04 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Tuesday, October 1st were issued a $1.15 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from Lam Research’s previous quarterly dividend of $1.10. This represents a $4.60 annualized dividend and a dividend yield of 1.69%. Lam Research’s dividend payout ratio (DPR) is 31.62%.
Several research firms have recently commented on LRCX. Cfra set a $210.00 price target on Lam Research and gave the stock a “hold” rating in a research report on Saturday, August 31st. Nomura raised their price target on Lam Research from $216.00 to $225.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Credit Suisse Group restated an “outperform” rating and set a $300.00 price target (up from $278.00) on shares of Lam Research in a research report on Thursday, October 24th. B. Riley raised their price target on Lam Research from $240.00 to $280.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, Mizuho raised their price target on Lam Research from $194.00 to $225.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. They noted that the move was a valuation call. Twelve research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $258.58.
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.
Read More: What are the most popular ETFs
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.