Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Claro Advisors LLC

Claro Advisors LLC increased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 1,183.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,695 shares of the semiconductor company’s stock after acquiring an additional 2,485 shares during the quarter. Claro Advisors LLC’s holdings in Lam Research were worth $2,087,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Symmetry Investments LP purchased a new stake in shares of Lam Research in the 2nd quarter valued at about $3,229,000. Benson Investment Management Company Inc. acquired a new stake in shares of Lam Research during the 3rd quarter valued at approximately $5,182,000. Brown Financial Advisors acquired a new stake in Lam Research in the second quarter valued at $1,489,000. Wedmont Private Capital grew its stake in Lam Research by 893.3% in the 3rd quarter. Wedmont Private Capital now owns 14,522 shares of the semiconductor company’s stock valued at $11,851,000 after acquiring an additional 13,060 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its stake in shares of Lam Research by 38.4% during the 3rd quarter. Vontobel Holding Ltd. now owns 120,736 shares of the semiconductor company’s stock worth $98,530,000 after purchasing an additional 33,489 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on LRCX shares. Morgan Stanley decreased their target price on shares of Lam Research from $92.90 to $77.40 and set an “equal weight” rating on the stock in a research report on Tuesday, September 17th. Needham & Company LLC reiterated a “buy” rating and set a $113.00 price objective on shares of Lam Research in a report on Thursday, August 1st. UBS Group dropped their price target on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Wells Fargo & Company dropped their price objective on Lam Research from $1,000.00 to $880.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Finally, Citigroup cut their target price on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research note on Monday, September 16th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $141.28.

Insider Buying and Selling at Lam Research

In other news, CAO Christina Correia sold 647 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.32% of the stock is owned by corporate insiders.

Lam Research Stock Performance

NASDAQ:LRCX traded up $0.27 during mid-day trading on Friday, hitting $73.41. The stock had a trading volume of 2,512,569 shares, compared to its average volume of 11,076,022. Lam Research Co. has a 52 week low of $57.44 and a 52 week high of $113.00. 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 stock has a market capitalization of $9.60 billion, a price-to-earnings ratio of 2.69, a P/E/G ratio of 1.75 and a beta of 1.47. The company has a 50 day simple moving average of $80.29 and a 200-day simple moving average of $90.66.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.76 by $0.05. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The firm had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.82 billion. During the same period last year, the firm earned $0.60 EPS. The firm’s revenue was up 20.7% compared to the same quarter last year. On average, research analysts expect that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were given a $0.23 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.92 dividend on an annualized basis and a yield of 1.25%. Lam Research’s dividend payout ratio is presently 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.