WD Rutherford LLC Buys 229 Shares of Lam Research Co. (NASDAQ:LRCX)

WD Rutherford LLC grew its stake in Lam Research Co. (NASDAQ:LRCX) by 28.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,047 shares of the semiconductor company’s stock after buying an additional 229 shares during the period. WD Rutherford LLC’s holdings in Lam Research were worth $854,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Fortitude Family Office LLC increased its stake in Lam Research by 16.7% in the second quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock valued at $67,000 after acquiring an additional 9 shares during the last quarter. Thomasville National Bank grew its holdings in shares of Lam Research by 1.5% during the 2nd quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock valued at $865,000 after purchasing an additional 12 shares during the last quarter. Ignite Planners LLC raised its position in Lam Research by 2.8% in the 2nd quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock worth $484,000 after purchasing an additional 12 shares during the period. U.S. Capital Wealth Advisors LLC lifted its stake in Lam Research by 3.7% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock worth $357,000 after purchasing an additional 12 shares during the last quarter. Finally, RFP Financial Group LLC boosted its position in Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 12 shares during the period. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on LRCX shares. TD Cowen boosted their target price on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company dropped their price objective on Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Cantor Fitzgerald reissued a “neutral” rating and issued a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. Finally, UBS Group decreased 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. 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, Lam Research has a consensus rating of “Moderate Buy” and an average price target of $97.03.

Insider Activity at Lam Research

In other news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction on Tuesday, October 1st. The shares were 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 in the company, valued at $3,488,315.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.32% of the stock is owned by insiders.

Lam Research Stock Performance

Lam Research stock opened at $78.31 on Wednesday. The stock’s 50 day moving average is $78.79 and its 200 day moving average is $89.37. The company has a market capitalization of $10.24 billion, a P/E ratio of 2.88, a PEG ratio of 1.89 and a beta of 1.47. Lam Research Co. has a twelve month low of $57.44 and a twelve month high of $113.00. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52.

Lam Research (NASDAQ:LRCX) last posted its quarterly 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. The firm had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. Lam Research’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.85 EPS. On average, equities research analysts predict that Lam Research Co. will post 3.23 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders 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 dividend yield of 1.17%. The ex-dividend date was Tuesday, September 17th. Lam Research’s payout ratio 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.