Strengthening Families & Communities LLC Has $1.53 Million Stake in Lam Research Co. (NASDAQ:LRCX)

Strengthening Families & Communities LLC lifted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 9.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,871 shares of the semiconductor company’s stock after acquiring an additional 159 shares during the quarter. Strengthening Families & Communities LLC’s holdings in Lam Research were worth $1,527,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Creative Planning raised its position in Lam Research by 2.5% during the 3rd quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock worth $38,664,000 after purchasing an additional 1,146 shares during the last quarter. Vest Financial LLC raised its position in Lam Research by 68.7% during the 3rd quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock worth $29,372,000 after purchasing an additional 14,658 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Lam Research by 9.0% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 340,855 shares of the semiconductor company’s stock worth $278,165,000 after acquiring an additional 28,089 shares in the last quarter. Benson Investment Management Company Inc. bought a new position in shares of Lam Research in the 3rd quarter worth about $5,182,000. Finally, Symmetry Investments LP bought a new stake in Lam Research in the 2nd quarter valued at about $3,229,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Trading Down 6.3 %

Lam Research stock opened at $70.05 on Monday. The stock has a market cap of $90.13 billion, a P/E ratio of 22.64, a PEG ratio of 1.11 and a beta of 1.48. Lam Research Co. has a fifty-two week low of $68.72 and a fifty-two week high of $113.00. The firm’s fifty day moving average price is $77.23 and its 200-day moving average price is $87.95. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping 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 company 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 business earned $6.85 earnings per share. The firm’s quarterly revenue was up 19.7% compared to the same quarter last year. 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be given a $0.23 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 annualized dividend and a yield of 1.31%. Lam Research’s dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analysts Forecast Growth

LRCX has been the subject of a number of research analyst reports. Mizuho decreased their target price on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Wells Fargo & Company decreased their target price on Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. B. Riley decreased their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Finally, Citigroup cut their price target on 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 investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and a consensus price target of $97.03.

Insider Buying and Selling

In other Lam Research news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the sale, the chief accounting officer now directly owns 4,267 shares in the company, valued at $3,488,315.17. This represents a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.29% of the stock is owned by company insiders.

Lam Research Company 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.