Lifeworks Advisors LLC Acquires 350 Shares of Lam Research Co. (NASDAQ:LRCX)

Lifeworks Advisors LLC raised its position in shares of Lam Research Co. (NASDAQ:LRCX) by 23.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,838 shares of the semiconductor company’s stock after acquiring an additional 350 shares during the period. Lifeworks Advisors LLC’s holdings in Lam Research were worth $1,500,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Lam Research during the second quarter worth approximately $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 valued at $37,000 after buying an additional 12 shares during the period. Hobbs Group Advisors LLC bought a new stake in shares of Lam Research in the second quarter valued at approximately $40,000. Country Trust Bank bought a new stake in shares of Lam Research in the second quarter valued at approximately $43,000. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Lam Research in the second quarter valued at approximately $45,000. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Up 2.2 %

Shares of LRCX stock traded up $1.59 on Thursday, reaching $75.44. 1,767,618 shares of the company were exchanged, compared to its average volume of 11,211,563. The company has a market cap of $97.07 billion, a price-to-earnings ratio of 23.87, a PEG ratio of 1.20 and a beta of 1.48. The company has a 50-day moving average of $77.37 and a 200-day moving average of $88.21. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. Lam Research Co. has a one year low of $68.72 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The company had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business’s revenue was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.85 EPS. Analysts anticipate that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be given a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 annualized dividend and a yield of 1.22%. Lam Research’s payout ratio is 29.74%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. TD Cowen boosted their price target on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Stifel Nicolaus restated a “buy” rating and set a $100.00 price objective (down from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Finally, Mizuho lowered their price objective 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. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $97.03.

Insider Activity at Lam Research

In related news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is owned by insiders.

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.