Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Fiduciary Trust Co

Fiduciary Trust Co lifted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 5.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,786 shares of the semiconductor company’s stock after purchasing an additional 522 shares during the quarter. Fiduciary Trust Co’s holdings in Lam Research were worth $7,986,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. acquired a new stake in Lam Research in the 2nd quarter valued at $32,000. RFP Financial Group LLC grew its stake in Lam Research by 52.2% in the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 12 shares during the period. Hobbs Group Advisors LLC acquired a new stake in Lam Research in the 2nd quarter valued at $40,000. Country Trust Bank acquired a new stake in Lam Research in the 2nd quarter valued at $43,000. Finally, MFA Wealth Advisors LLC acquired a new stake in Lam Research in the 2nd quarter valued at $45,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Buying and Selling at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the transaction, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at $3,488,315.17. The trade was a 13.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.29% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on LRCX shares. BNP Paribas raised shares of Lam Research to a “hold” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft decreased their price objective on Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. UBS Group decreased their price objective on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $100.00 price objective (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and an average price target of $97.97.

Lam Research Stock Performance

NASDAQ LRCX opened at $71.57 on Friday. The company has a market cap of $92.09 billion, a P/E ratio of 23.13, a P/E/G ratio of 1.14 and a beta of 1.48. 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 50-day moving average of $76.62 and a two-hundred day moving average of $86.79. Lam Research Co. has a 1-year low of $68.72 and a 1-year high of $113.00.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. The company 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%. Lam Research’s revenue 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 EPS for the current year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.29%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio is currently 29.74%.

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.