Ballentine Partners LLC Purchases 159 Shares of Lam Research Co. (NASDAQ:LRCX)

Ballentine Partners LLC grew its position in Lam Research Co. (NASDAQ:LRCX) by 3.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,705 shares of the semiconductor company’s stock after purchasing an additional 159 shares during the quarter. Ballentine Partners LLC’s holdings in Lam Research were worth $3,840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Lam Research by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after buying an additional 144,914 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Lam Research by 5.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock valued at $2,875,023,000 after acquiring an additional 142,903 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Lam Research by 7.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock valued at $1,335,522,000 after acquiring an additional 89,470 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Lam Research by 11.1% in the second quarter. Van ECK Associates Corp now owns 1,075,893 shares of the semiconductor company’s stock worth $1,145,664,000 after acquiring an additional 107,778 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Lam Research by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company’s stock worth $654,009,000 after purchasing an additional 25,362 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on LRCX shares. StockNews.com cut Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Mizuho dropped their target price on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Citigroup reduced their price target on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a report on Monday, September 16th. Finally, B. Riley dropped their price objective on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and an average price target of $97.03.

Lam Research Price Performance

Shares of Lam Research stock opened at $76.57 on Friday. The stock has a 50 day moving average price of $79.60 and a 200-day moving average price of $89.94. Lam Research Co. has a one year low of $57.44 and a one year high of $113.00. The stock has a market cap of $10.01 billion, a price-to-earnings ratio of 2.82, a price-to-earnings-growth ratio of 1.75 and a beta of 1.47. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The business’s revenue was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.85 earnings per share. Equities analysts expect that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is currently 3.38%.

Insiders Place Their Bets

In other news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.32% of the stock is owned by 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.