Fiduciary Trust Co Raises Position in Lam Research Co. (NASDAQ:LRCX)

Fiduciary Trust Co lifted its stake in Lam Research Co. (NASDAQ:LRCX) by 5.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,786 shares of the semiconductor company’s stock after purchasing an additional 522 shares during the quarter. Fiduciary Trust Co’s holdings in Lam Research were worth $7,986,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. CarsonAllaria Wealth Management Ltd. purchased a new position in Lam Research during the 2nd quarter valued at $32,000. RFP Financial Group LLC boosted its stake in shares of Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 12 shares during the period. Hobbs Group Advisors LLC bought a new position in shares of Lam Research in the second quarter worth about $40,000. Country Trust Bank bought a new position in shares of Lam Research in the second quarter worth about $43,000. Finally, MFA Wealth Advisors LLC bought a new position in shares of Lam Research in the second quarter worth about $45,000. Institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LRCX. Cantor Fitzgerald restated a “neutral” rating and issued a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. Mizuho cut their price target 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. Wells Fargo & Company cut their price target on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. B. Riley cut their price target on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, Citigroup lowered their price objective on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research note on Monday, September 16th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and a consensus target price of $97.97.

Insider Buying and Selling

In other news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This trade represents a 13.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is owned by corporate insiders.

Lam Research Stock Performance

Shares of Lam Research stock opened at $71.57 on Friday. The firm has a market capitalization of $92.09 billion, a P/E ratio of 23.13, a PEG ratio of 1.14 and a beta of 1.48. 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 company has a 50 day moving average price of $76.62 and a 200 day moving average price of $86.79. Lam Research Co. has a 52 week low of $68.72 and a 52 week high of $113.00.

Lam Research (NASDAQ:LRCX) last announced 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. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same period last year, the firm posted $6.85 EPS. Lam Research’s revenue was up 19.7% on a year-over-year basis. Sell-side analysts expect that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be issued a $0.23 dividend. The ex-dividend date 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%.

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.