Equitable Trust Co. Acquires 888 Shares of Lam Research Co. (NASDAQ:LRCX)

Equitable Trust Co. increased its holdings in Lam Research Co. (NASDAQ:LRCX) by 141.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,517 shares of the semiconductor company’s stock after buying an additional 888 shares during the period. Equitable Trust Co.’s holdings in Lam Research were worth $1,238,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in LRCX. TCI Wealth Advisors Inc. acquired a new position in shares of Lam Research during the first quarter worth $229,000. Montag A & Associates Inc. increased its position in shares of Lam Research by 11.5% during the first quarter. Montag A & Associates Inc. now owns 1,613 shares of the semiconductor company’s stock worth $1,571,000 after purchasing an additional 167 shares in the last quarter. Atomi Financial Group Inc. increased its position in shares of Lam Research by 15.8% during the first quarter. Atomi Financial Group Inc. now owns 595 shares of the semiconductor company’s stock worth $578,000 after purchasing an additional 81 shares in the last quarter. Concurrent Investment Advisors LLC increased its position in shares of Lam Research by 11.3% during the first quarter. Concurrent Investment Advisors LLC now owns 859 shares of the semiconductor company’s stock worth $834,000 after purchasing an additional 87 shares in the last quarter. Finally, NorthRock Partners LLC increased its position in shares of Lam Research by 28.6% during the first quarter. NorthRock Partners LLC now owns 878 shares of the semiconductor company’s stock worth $853,000 after purchasing an additional 195 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LRCX has been the topic of a number of recent analyst reports. Morgan Stanley reduced their price target on Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Citigroup dropped their price objective on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a report on Monday, September 16th. UBS Group dropped their price objective on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Stifel Nicolaus reissued a “buy” rating and set a $100.00 price objective (down from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Finally, B. Riley dropped their price objective on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $97.03.

Lam Research Trading Down 1.3 %

Shares of Lam Research stock opened at $78.20 on Friday. The firm has a 50-day simple moving average of $77.67 and a two-hundred day simple moving average of $88.52. The company has a market cap of $100.62 billion, a P/E ratio of 25.27, a price-to-earnings-growth ratio of 1.22 and a beta of 1.48. Lam Research Co. has a fifty-two week low of $64.85 and a fifty-two week high of $113.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share 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 firm had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the prior year, the firm earned $6.85 EPS. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. As a group, equities analysts predict that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.18%. Lam Research’s dividend payout ratio (DPR) is presently 29.74%.

Insider Buying and Selling

In related news, CAO Christina Correia sold 647 shares of the company’s 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 completion of the transaction, the chief accounting officer now owns 4,267 shares in the company, valued at $3,488,315.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.29% of the company’s stock.

About Lam Research

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.