Townsquare Capital LLC Has $6.20 Million Position in Lam Research Co. (NASDAQ:LRCX)

Townsquare Capital LLC grew its position in Lam Research Co. (NASDAQ:LRCX) by 20.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,591 shares of the semiconductor company’s stock after purchasing an additional 1,310 shares during the period. Townsquare Capital LLC’s holdings in Lam Research were worth $6,195,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LRCX. Sanibel Captiva Trust Company Inc. grew its stake in Lam Research by 3.5% in the first quarter. Sanibel Captiva Trust Company Inc. now owns 411 shares of the semiconductor company’s stock valued at $399,000 after acquiring an additional 14 shares during the period. Cetera Investment Advisers increased its stake in Lam Research by 117.4% during the 1st quarter. Cetera Investment Advisers now owns 27,797 shares of the semiconductor company’s stock worth $27,007,000 after purchasing an additional 15,010 shares in the last quarter. Cetera Advisors LLC raised its holdings in Lam Research by 181.2% during the 1st quarter. Cetera Advisors LLC now owns 9,584 shares of the semiconductor company’s stock worth $9,312,000 after buying an additional 6,176 shares during the period. Cambridge Trust Co. lifted its stake in Lam Research by 34.2% in the first quarter. Cambridge Trust Co. now owns 200 shares of the semiconductor company’s stock valued at $194,000 after buying an additional 51 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Lam Research by 15.0% in the first quarter. EverSource Wealth Advisors LLC now owns 353 shares of the semiconductor company’s stock valued at $316,000 after buying an additional 46 shares during the period. 84.61% of the stock is owned by institutional investors.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $71.57 on Friday. 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 has a market capitalization of $92.09 billion, a P/E ratio of 23.13, a P/E/G ratio of 1.17 and a beta of 1.48. Lam Research Co. has a 12 month low of $68.72 and a 12 month high of $113.00. The stock has a 50 day moving average of $76.62 and a 200-day moving average of $86.79.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data 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 firm had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The company’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the company earned $6.85 earnings per share. As a group, equities research analysts predict that Lam Research Co. will post 3.52 EPS for the current 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 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 yield of 1.29%. Lam Research’s dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on LRCX shares. Stifel Nicolaus restated 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. TD Cowen boosted their price target on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Cantor Fitzgerald reiterated a “neutral” rating and set a $100.00 price objective on shares of Lam Research in a report on Thursday, October 24th. Mizuho cut their target price on Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $97.97.

Insider Transactions at Lam Research

In related news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the sale, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This trade represents a 13.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.29% of the company’s stock.

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.