Truvestments Capital LLC Has $569,000 Holdings in Lam Research Co. (NASDAQ:LRCX)

Truvestments Capital LLC lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 41.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 697 shares of the semiconductor company’s stock after buying an additional 204 shares during the quarter. Truvestments Capital LLC’s holdings in Lam Research were worth $569,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of LRCX. Gabelli Funds LLC acquired a new stake in Lam Research in the first quarter valued at approximately $276,000. Dynasty Wealth Management LLC acquired a new stake in Lam Research in the 1st quarter valued at $740,000. Tidal Investments LLC increased its stake in Lam Research by 13.7% during the 1st quarter. Tidal Investments LLC now owns 6,205 shares of the semiconductor company’s stock valued at $6,026,000 after purchasing an additional 748 shares in the last quarter. Castleark Management LLC raised its holdings in Lam Research by 2.7% during the first quarter. Castleark Management LLC now owns 54,202 shares of the semiconductor company’s stock worth $52,661,000 after buying an additional 1,410 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC bought a new position in shares of Lam Research in the first quarter valued at $212,000. Institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on LRCX shares. Mizuho lowered their target price on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. TD Cowen raised their price target on shares of Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company reduced their price objective on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Finally, B. Riley reduced their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $97.97.

Lam Research Trading Up 1.5 %

Shares of LRCX stock opened at $73.71 on Tuesday. Lam Research Co. has a 1 year low of $68.72 and a 1 year high of $113.00. The company’s fifty day simple moving average is $76.86 and its two-hundred day simple moving average is $87.16. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The stock has a market capitalization of $94.84 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 1.15 and a beta of 1.48.

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, beating analysts’ consensus estimates of $0.81 by $0.05. The company had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The firm’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period in the previous year, the company posted $6.85 EPS. As a group, analysts anticipate that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 annualized dividend and a yield of 1.25%. Lam Research’s dividend payout ratio is currently 29.77%.

Insider Buying and Selling

In other news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction on 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 represents a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.29% of the stock is currently 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.