Lam Research Co. (NASDAQ:LRCX) Position Increased by Carderock Capital Management Inc.

Carderock Capital Management Inc. raised its stake in Lam Research Co. (NASDAQ:LRCX) by 3.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,192 shares of the semiconductor company’s stock after buying an additional 362 shares during the period. Lam Research makes up about 2.2% of Carderock Capital Management Inc.’s investment portfolio, making the stock its 19th largest holding. Carderock Capital Management Inc.’s holdings in Lam Research were worth $9,134,000 as of its most recent filing with the SEC.

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

Insider Activity

In related news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.32% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently commented on the company. TD Cowen raised their target price on Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Morgan Stanley decreased their price objective on Lam Research from $92.90 to $77.40 and set an “equal weight” rating for the company in a research report on Tuesday, September 17th. Cantor Fitzgerald reduced their price target on shares of Lam Research from $120.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, September 30th. UBS Group lowered 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. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $113.00 price objective on shares of Lam Research in a research note on Thursday, August 1st. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $141.28.

Lam Research Stock Down 2.9 %

Shares of LRCX stock opened at $74.14 on Thursday. The company has a market capitalization of $9.69 billion, a price-to-earnings ratio of 2.73, a PEG 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. The stock’s 50 day simple moving average is $95.11 and its 200 day simple moving average is $95.84. Lam Research Co. has a twelve month low of $57.44 and a twelve month high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.05. The business had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. Lam Research’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 earnings per share. As a group, research analysts predict that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is 3.38%.

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.