Lam Research Co. (NASDAQ:LRCX) Holdings Lifted by Deroy & Devereaux Private Investment Counsel Inc.

Deroy & Devereaux Private Investment Counsel Inc. increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 1.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,065 shares of the semiconductor company’s stock after buying an additional 282 shares during the quarter. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Lam Research were worth $21,271,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of LRCX. J.W. Cole Advisors Inc. grew its holdings in shares of Lam Research by 28.9% during the first quarter. J.W. Cole Advisors Inc. now owns 401 shares of the semiconductor company’s stock valued at $391,000 after buying an additional 90 shares in the last quarter. Wambolt & Associates LLC purchased a new position in Lam Research in the first quarter valued at about $260,000. Blue Trust Inc. grew its stake in Lam Research by 8.4% in the first quarter. Blue Trust Inc. now owns 876 shares of the semiconductor company’s stock valued at $851,000 after purchasing an additional 68 shares in the last quarter. Resonant Capital Advisors LLC grew its stake in Lam Research by 7.2% in the first quarter. Resonant Capital Advisors LLC now owns 788 shares of the semiconductor company’s stock valued at $767,000 after purchasing an additional 53 shares in the last quarter. Finally, REDW Wealth LLC purchased a new position in Lam Research in the first quarter valued at about $221,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on LRCX shares. Deutsche Bank Aktiengesellschaft lowered their target price on Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. B. Riley lowered their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Wells Fargo & Company lowered their target price on Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Morgan Stanley lowered their target price on Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Finally, BNP Paribas upgraded Lam Research to a “hold” rating in a research note on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $97.03.

Insider Activity

In other news, CAO Christina Correia sold 647 shares of the 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 transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.29% of the stock is currently owned by company insiders.

Lam Research Stock Down 2.7 %

Shares of LRCX opened at $74.35 on Friday. The firm has a market capitalization of $95.67 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 1.22 and a beta of 1.47. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The business’s fifty day moving average price is $78.33 and its two-hundred day moving average price is $89.13. Lam Research Co. has a 52 week low of $57.44 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 analysts’ consensus estimates 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 50.60% and a net margin of 26.02%. The business’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period last year, the company earned $6.85 EPS. On average, analysts predict that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend was Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is currently 29.74%.

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.