FCG Investment Co Buys 687 Shares of Lam Research Co. (NASDAQ:LRCX)

FCG Investment Co grew its stake in Lam Research Co. (NASDAQ:LRCX) by 72.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,629 shares of the semiconductor company’s stock after purchasing an additional 687 shares during the period. FCG Investment Co’s holdings in Lam Research were worth $1,329,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. CarsonAllaria Wealth Management Ltd. bought a new stake in Lam Research during the 2nd quarter worth approximately $32,000. RFP Financial Group LLC grew its position in Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 12 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in Lam Research during the 2nd quarter worth approximately $40,000. Country Trust Bank bought a new stake in Lam Research during the 2nd quarter worth approximately $43,000. Finally, MFA Wealth Advisors LLC bought a new stake in Lam Research during the 2nd quarter worth approximately $45,000. 84.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value 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 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on LRCX shares. Wells Fargo & Company decreased their price target on Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Thursday. StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. B. Riley reduced their price objective on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Mizuho reduced their price objective on Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 price objective (down previously from $105.00) on shares of Lam Research in a report on Thursday. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $97.03.

Lam Research Stock Performance

LRCX stock opened at $78.38 on Monday. The business’s 50-day moving average price is $79.21 and its two-hundred day moving average price is $89.66. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. The firm has a market cap of $10.25 billion, a PE ratio of 2.86, a P/E/G ratio of 1.89 and a beta of 1.47. Lam Research Co. has a 1-year low of $57.44 and a 1-year high of $113.00.

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. The firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same period in the previous year, the company posted $6.85 earnings per share. As a group, research analysts forecast that Lam Research Co. will post 3.23 earnings per share for the current year.

Lam Research Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Tuesday, September 17th. Lam Research’s dividend payout ratio is 3.38%.

About Lam Research

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.