Leavell Investment Management Inc. Raises Stake in Lam Research Co. (NASDAQ:LRCX)

Leavell Investment Management Inc. lifted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 14.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,950 shares of the semiconductor company’s stock after buying an additional 250 shares during the period. Leavell Investment Management Inc.’s holdings in Lam Research were worth $1,595,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. TCI Wealth Advisors Inc. purchased a new stake in shares of Lam Research in the first quarter valued at $229,000. Montag A & Associates Inc. boosted its stake in Lam Research by 11.5% in the 1st quarter. Montag A & Associates Inc. now owns 1,613 shares of the semiconductor company’s stock worth $1,571,000 after buying an additional 167 shares during the last quarter. Atomi Financial Group Inc. grew its holdings in Lam Research by 15.8% in the 1st quarter. Atomi Financial Group Inc. now owns 595 shares of the semiconductor company’s stock valued at $578,000 after buying an additional 81 shares during the period. Concurrent Investment Advisors LLC increased its stake in shares of Lam Research by 11.3% during the 1st quarter. Concurrent Investment Advisors LLC now owns 859 shares of the semiconductor company’s stock valued at $834,000 after acquiring an additional 87 shares during the last quarter. Finally, NorthRock Partners LLC lifted its holdings in shares of Lam Research by 28.6% during the 1st quarter. NorthRock Partners LLC now owns 878 shares of the semiconductor company’s stock worth $853,000 after acquiring an additional 195 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Trading Down 1.3 %

NASDAQ:LRCX opened at $78.20 on Friday. Lam Research Co. has a one year low of $64.85 and a one year high of $113.00. The business’s 50-day simple moving average is $77.67 and its 200 day simple moving average is $88.52. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The stock has a market cap of $100.62 billion, a price-to-earnings ratio of 25.27, a price-to-earnings-growth ratio of 1.22 and a beta of 1.48.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. The company had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The business’s revenue was up 19.7% on a year-over-year basis. During the same period in the prior year, the business posted $6.85 EPS. As a group, sell-side 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 disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders 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 yield of 1.18%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio is currently 29.74%.

Insider Transactions at Lam Research

In other news, CAO Christina Correia sold 647 shares of the 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 transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

LRCX has been the subject of a number of recent analyst reports. Morgan Stanley lowered their target price on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. Stifel Nicolaus reissued a “buy” rating and set a $100.00 target price (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $100.00 price target on shares of Lam Research in a research report on Thursday, October 24th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $97.03.

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.