Commonwealth Equity Services LLC Has $29.31 Million Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Commonwealth Equity Services LLC increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 29.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 45,599 shares of the semiconductor company’s stock after acquiring an additional 10,382 shares during the period. Commonwealth Equity Services LLC’s holdings in Lam Research were worth $29,314,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Baird Financial Group Inc. grew its position in Lam Research by 11.5% in the first quarter. Baird Financial Group Inc. now owns 39,514 shares of the semiconductor company’s stock valued at $21,243,000 after acquiring an additional 4,090 shares during the period. Zions Bancorporation N.A. grew its holdings in shares of Lam Research by 39.1% in the 1st quarter. Zions Bancorporation N.A. now owns 281 shares of the semiconductor company’s stock worth $151,000 after purchasing an additional 79 shares during the last quarter. Brown Brothers Harriman & Co. increased its position in shares of Lam Research by 18.8% during the 1st quarter. Brown Brothers Harriman & Co. now owns 721 shares of the semiconductor company’s stock worth $388,000 after purchasing an additional 114 shares in the last quarter. Covestor Ltd increased its position in shares of Lam Research by 51.9% during the 1st quarter. Covestor Ltd now owns 322 shares of the semiconductor company’s stock worth $173,000 after purchasing an additional 110 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in Lam Research by 11.8% during the 1st quarter. Mackenzie Financial Corp now owns 233,280 shares of the semiconductor company’s stock valued at $125,414,000 after purchasing an additional 24,636 shares during the last quarter. Institutional investors own 84.08% of the company’s stock.

Lam Research Stock Performance

Shares of LRCX stock opened at $700.34 on Monday. The stock has a market cap of $92.30 billion, a PE ratio of 23.81, a price-to-earnings-growth ratio of 4.84 and a beta of 1.52. The stock has a 50-day moving average of $633.31 and a 200-day moving average of $633.62. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.06 and a quick ratio of 1.94. Lam Research Co. has a one year low of $397.06 and a one year high of $726.53.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, October 18th. The semiconductor company reported $6.85 EPS for the quarter, beating the consensus estimate of $6.15 by $0.70. The firm had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.42 billion. Lam Research had a net margin of 25.08% and a return on equity of 50.02%. The business’s quarterly revenue was down 31.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.42 earnings per share. As a group, sell-side analysts expect that Lam Research Co. will post 27.65 earnings per share for the current year.

Lam Research Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 13th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Tuesday, December 12th. This is a boost from Lam Research’s previous quarterly dividend of $0.28. Lam Research’s payout ratio is 27.20%.

Insider Activity at Lam Research

In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $627.75, for a total transaction of $553,675.50. Following the sale, the director now directly owns 12,117 shares in the company, valued at approximately $7,606,446.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Lam Research news, EVP Patrick J. Lord sold 1,845 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $691.67, for a total value of $1,276,131.15. Following the sale, the executive vice president now owns 9,892 shares in the company, valued at approximately $6,841,999.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $627.75, for a total transaction of $553,675.50. Following the transaction, the director now directly owns 12,117 shares of the company’s stock, valued at $7,606,446.75. The disclosure for this sale can be found here. In the last three months, insiders sold 7,404 shares of company stock worth $5,057,582. 0.32% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Citigroup raised their price objective on shares of Lam Research from $695.00 to $800.00 and gave the stock a “buy” rating in a report on Thursday, July 27th. Susquehanna lifted their price objective on Lam Research from $540.00 to $615.00 in a research report on Thursday, July 27th. B. Riley increased their target price on Lam Research from $690.00 to $700.00 and gave the stock a “neutral” rating in a report on Thursday, October 19th. Mizuho lifted their price target on Lam Research from $520.00 to $680.00 and gave the company a “buy” rating in a report on Monday, July 24th. Finally, Barclays increased their price objective on shares of Lam Research from $575.00 to $600.00 and gave the stock an “equal weight” rating in a report on Thursday, July 27th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and an average target price of $660.00.

Lam Research 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.