Mutual Advisors LLC Grows Holdings in Lam Research Co. (NASDAQ:LRCX)

Mutual Advisors LLC raised its position in shares of Lam Research Co. (NASDAQ:LRCX) by 307.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,343 shares of the semiconductor company’s stock after purchasing an additional 6,294 shares during the quarter. Mutual Advisors LLC’s holdings in Lam Research were worth $6,809,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. CarsonAllaria Wealth Management Ltd. bought a new position in Lam Research in the 2nd quarter worth $32,000. RFP Financial Group LLC boosted its stake in shares of Lam Research by 52.2% in the second 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 period. Hobbs Group Advisors LLC purchased a new stake in shares of Lam Research during the second quarter worth about $40,000. Country Trust Bank bought a new stake in Lam Research during the 2nd quarter valued at approximately $43,000. Finally, MFA Wealth Advisors LLC bought a new stake in Lam Research during the 2nd quarter valued at approximately $45,000. 84.61% of the stock is currently owned by institutional investors.

Lam Research Trading Up 3.8 %

LRCX opened at $78.31 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. The stock’s 50 day moving average price is $78.79 and its 200-day moving average price is $89.37. 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 $10.24 billion, a price-to-earnings ratio of 2.88, a P/E/G ratio of 1.89 and a beta of 1.47.

Lam Research (NASDAQ:LRCX) last released 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 business had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period last year, the company earned $6.85 earnings per share. On average, equities analysts forecast that Lam Research Co. will post 3.23 EPS for the current year.

Lam Research Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend was Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is presently 3.38%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on LRCX shares. UBS Group reduced their price objective on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. B. Riley reduced their price target on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. TD Cowen increased their price objective on shares of Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Citigroup reduced their target price on Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a report on Monday, September 16th. Finally, BNP Paribas raised Lam Research to a “hold” rating in a research note on Thursday, October 24th. Seven equities research 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $97.03.

Insider Activity

In other Lam Research news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction 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 directly owns 4,267 shares in the company, 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. Insiders own 0.32% of the company’s stock.

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.