Caprock Group LLC Purchases 156 Shares of Lam Research Co. (NASDAQ:LRCX)

Caprock Group LLC lifted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 4.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,317 shares of the semiconductor company’s stock after purchasing an additional 156 shares during the period. Caprock Group LLC’s holdings in Lam Research were worth $2,715,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LRCX. Van ECK Associates Corp lifted its position in shares of Lam Research by 1,394.7% during the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after buying an additional 15,005,178 shares in the last quarter. Foster Victor Wealth Advisors LLC increased its position in shares of Lam Research by 994.1% during the third quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company’s stock valued at $190,066,000 after acquiring an additional 211,614 shares during the last quarter. Swedbank AB bought a new stake in Lam Research during the first quarter worth $192,668,000. Price T Rowe Associates Inc. MD boosted its position in Lam Research by 5.1% in the first 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 purchasing an additional 142,903 shares during the last quarter. Finally, Panagora Asset Management Inc. grew its stake in Lam Research by 208.2% in the 2nd quarter. Panagora Asset Management Inc. now owns 175,616 shares of the semiconductor company’s stock valued at $187,005,000 after purchasing an additional 118,634 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on LRCX shares. Citigroup lowered their target price on Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research note on Monday, September 16th. Stifel Nicolaus reiterated a “buy” rating and issued a $100.00 target price (down from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Wells Fargo & Company lowered their price target on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Finally, Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and an average price target of $97.03.

Lam Research Trading Down 0.6 %

Shares of LRCX stock opened at $70.17 on Wednesday. Lam Research Co. has a 52-week low of $68.72 and a 52-week high of $113.00. The business’s fifty day moving average is $77.10 and its 200 day moving average is $87.70. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The company has a market capitalization of $90.29 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 1.11 and a beta of 1.48.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The firm 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 50.60% and a net margin of 26.02%. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter last year, the company posted $6.85 EPS. On average, equities research analysts anticipate that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s payout ratio is 29.74%.

Insider Activity

In other news, CAO Christina Correia sold 647 shares of the 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 transaction, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. This represents a 13.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.29% 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.