Strengthening Families & Communities LLC Buys 159 Shares of Lam Research Co. (NASDAQ:LRCX)

Strengthening Families & Communities LLC raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 9.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,871 shares of the semiconductor company’s stock after purchasing an additional 159 shares during the period. Strengthening Families & Communities LLC’s holdings in Lam Research were worth $1,527,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in LRCX. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Lam Research during the 2nd quarter valued at $32,000. RFP Financial Group LLC boosted its holdings 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 valued at $37,000 after acquiring an additional 12 shares during the last quarter. Hobbs Group Advisors LLC purchased a new position in Lam Research during the second quarter valued at $40,000. Country Trust Bank acquired a new stake in shares of Lam Research in the second quarter valued at about $43,000. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of Lam Research in the second quarter valued at about $45,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Trading Down 6.3 %

NASDAQ:LRCX opened at $70.05 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. Lam Research Co. has a fifty-two week low of $68.72 and a fifty-two week high of $113.00. The stock’s 50-day moving average is $77.23 and its two-hundred day moving average is $87.95. The stock has a market cap of $90.13 billion, a PE ratio of 22.64, a price-to-earnings-growth ratio of 1.11 and a beta of 1.48.

Lam Research (NASDAQ:LRCX) last posted its 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 return on equity of 50.60% and a net margin of 26.02%. The firm had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same period in the previous year, the company 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 research analysts forecast that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be issued a dividend of $0.23 per share. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.31%. Lam Research’s dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on LRCX shares. 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 research note on Wednesday, October 23rd. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a research report on Thursday, October 24th. UBS Group cut their price objective on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $100.00 price objective (down from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $97.03.

Insider Transactions at Lam Research

In related news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the transaction, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. This 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 this hyperlink. 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.