Aviance Capital Partners LLC Buys 864 Shares of Lam Research Co. (NASDAQ:LRCX)

Aviance Capital Partners LLC lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 8.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,711 shares of the semiconductor company’s stock after purchasing an additional 864 shares during the quarter. Lam Research accounts for about 1.2% of Aviance Capital Partners LLC’s portfolio, making the stock its 15th largest position. Aviance Capital Partners LLC’s holdings in Lam Research were worth $8,741,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. CarsonAllaria Wealth Management Ltd. bought a new stake in Lam Research during the 2nd quarter worth approximately $32,000. RFP Financial Group LLC lifted its position in shares of 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 period. Hobbs Group Advisors LLC acquired a new position in shares of Lam Research in the 2nd quarter worth approximately $40,000. Country Trust Bank acquired a new position in shares of Lam Research in the 2nd quarter worth approximately $43,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Lam Research in the 2nd quarter worth approximately $45,000. 84.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on LRCX shares. Wells Fargo & Company dropped 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. Morgan Stanley dropped their target price on shares of 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. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. Finally, Citigroup lowered 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. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and an average price target of $97.03.

Lam Research Trading Up 0.7 %

Shares of Lam Research stock opened at $70.57 on Tuesday. Lam Research Co. has a 12-month low of $68.72 and a 12-month high of $113.00. The company has a market cap of $90.80 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 1.11 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. The company’s 50-day moving average price is $77.17 and its 200-day moving average price is $87.83.

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

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s dividend payout ratio is currently 29.74%.

Insider Activity at Lam Research

In related news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction that occurred 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 directly owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This trade represents a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.29% of the stock is currently owned by insiders.

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.