Lam Research Co. (NASDAQ:LRCX) Shares Bought by Greenleaf Trust

Greenleaf Trust boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 57.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,334 shares of the semiconductor company’s stock after acquiring an additional 1,940 shares during the quarter. Greenleaf Trust’s holdings in Lam Research were worth $4,353,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vest Financial LLC boosted its position in shares of Lam Research by 68.7% during the 3rd quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock worth $29,372,000 after purchasing an additional 14,658 shares in the last quarter. Creative Planning boosted its position in shares of Lam Research by 2.5% in the 3rd quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock worth $38,664,000 after buying an additional 1,146 shares in the last quarter. Symmetry Investments LP purchased a new position in Lam Research in the 2nd quarter valued at about $3,229,000. Benson Investment Management Company Inc. acquired a new position in shares of Lam Research during the 3rd quarter valued at about $5,182,000. Finally, Vontobel Holding Ltd. increased its stake in shares of Lam Research by 38.4% during the 3rd quarter. Vontobel Holding Ltd. now owns 120,736 shares of the semiconductor company’s stock valued at $98,530,000 after acquiring an additional 33,489 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Lam Research news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.32% of the company’s stock.

Lam Research Price Performance

LRCX stock traded down $0.20 during trading on Wednesday, hitting $72.80. The company had a trading volume of 1,255,723 shares, compared to its average volume of 11,122,305. The company has a fifty day moving average price of $79.82 and a two-hundred day moving average price of $90.11. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. The company has a market cap 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 fifty-two week low of $57.44 and a fifty-two week high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.76 by $0.05. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. Lam Research’s quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 EPS. Equities research analysts expect that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a 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%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LRCX. StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Morgan Stanley dropped their price objective on shares of Lam Research from $92.90 to $77.40 and set an “equal weight” rating for the company in a research note on Tuesday, September 17th. TD Cowen increased their target price 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. Wells Fargo & Company dropped their target price 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. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Lam Research 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.