Lam Research Co. (NASDAQ:LRCX) Position Boosted by Advisors Asset Management Inc.

Advisors Asset Management Inc. lifted its stake in Lam Research Co. (NASDAQ:LRCX) by 3.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,859 shares of the semiconductor company’s stock after purchasing an additional 144 shares during the quarter. Advisors Asset Management Inc.’s holdings in Lam Research were worth $3,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Fortitude Family Office LLC lifted its position in Lam Research by 16.7% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock worth $67,000 after buying an additional 9 shares in the last quarter. Thomasville National Bank boosted its position in Lam Research by 1.5% during the second quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock valued at $865,000 after purchasing an additional 12 shares during the last quarter. Ignite Planners LLC boosted its position in Lam Research by 2.8% during the second quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock valued at $484,000 after purchasing an additional 12 shares during the last quarter. U.S. Capital Wealth Advisors LLC grew its stake in Lam Research by 3.7% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock valued at $357,000 after purchasing an additional 12 shares in the last quarter. Finally, RFP Financial Group LLC increased its position in Lam Research by 52.2% in the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 12 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on LRCX shares. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 price target (down previously from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. B. Riley dropped their price target on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. Wells Fargo & Company lowered their target price on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Finally, Morgan Stanley reduced their price target on Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $97.97.

Insider Activity

In other Lam Research news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were 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. The trade was a 13.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.29% of the stock is currently owned by company insiders.

Lam Research Trading Down 0.7 %

Shares of Lam Research stock opened at $72.64 on Friday. Lam Research Co. has a 1 year low of $68.72 and a 1 year high of $113.00. The company’s fifty day simple moving average is $76.93 and its 200-day simple moving average is $87.32. The company has a market cap of $93.47 billion, a price-to-earnings ratio of 23.48, a PEG ratio of 1.16 and a beta of 1.48. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The company had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same period last year, the business posted $6.85 EPS. The business’s quarterly revenue was up 19.7% on a year-over-year basis. As a group, sell-side analysts expect that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s payout ratio is presently 29.74%.

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.