Truvestments Capital LLC Has $569,000 Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Truvestments Capital LLC increased its stake in Lam Research Co. (NASDAQ:LRCX) by 41.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 697 shares of the semiconductor company’s stock after buying an additional 204 shares during the quarter. Truvestments Capital LLC’s holdings in Lam Research were worth $569,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Lam Research in the 2nd quarter valued at about $32,000. RFP Financial Group LLC raised its stake in Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 12 shares during the period. Hobbs Group Advisors LLC acquired a new stake in shares of Lam Research in the second quarter valued at approximately $40,000. Country Trust Bank bought a new position in shares of Lam Research during the 2nd quarter worth approximately $43,000. Finally, MFA Wealth Advisors LLC acquired a new stake in Lam Research during the 2nd quarter valued at $45,000. 84.61% of the stock is owned by institutional investors.

Lam Research Stock Performance

NASDAQ:LRCX opened at $73.71 on Tuesday. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $94.84 billion, a PE ratio of 23.85, a price-to-earnings-growth ratio of 1.15 and a beta of 1.48. Lam Research Co. has a twelve month low of $68.72 and a twelve month high of $113.00. The stock’s 50-day simple moving average is $76.86 and its 200 day simple moving average is $87.16.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The business had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same quarter in the previous year, the company posted $6.85 EPS. Lam Research’s quarterly revenue was up 19.7% compared to the same quarter last year. On average, analysts anticipate that Lam Research Co. will post 3.52 EPS 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 of this dividend is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.25%. Lam Research’s dividend payout ratio (DPR) is presently 29.77%.

Insider Buying and Selling

In other news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 4,267 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on LRCX shares. Mizuho decreased their price objective on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. StockNews.com cut Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Cantor Fitzgerald reiterated a “neutral” rating and set a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. Finally, TD Cowen boosted their price target on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.97.

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.