Aviance Capital Partners LLC Acquires 864 Shares of Lam Research Co. (NASDAQ:LRCX)

Aviance Capital Partners LLC raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 8.8% during the third quarter, Holdings Channel reports. The fund owned 10,711 shares of the semiconductor company’s stock after buying an additional 864 shares during the period. Lam Research comprises about 1.2% of Aviance Capital Partners LLC’s investment portfolio, making the stock its 15th biggest position. Aviance Capital Partners LLC’s holdings in Lam Research were worth $8,741,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Van ECK Associates Corp grew its holdings in shares of Lam Research by 1,394.7% in the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after purchasing an additional 15,005,178 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of 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. Massachusetts Financial Services Co. MA boosted its holdings in Lam Research by 7.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock valued at $1,335,522,000 after acquiring an additional 89,470 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Lam Research by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company’s stock valued at $654,009,000 after acquiring an additional 25,362 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in Lam Research by 2.0% in the second quarter. Canada Pension Plan Investment Board now owns 420,117 shares of the semiconductor company’s stock valued at $447,362,000 after acquiring an additional 8,295 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. Citigroup cut their price target on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a report on Monday, September 16th. Stifel Nicolaus reiterated a “buy” rating and issued a $100.00 price target (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Finally, UBS Group cut their price target on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.03.

Lam Research Trading Up 0.7 %

Lam Research stock opened at $70.57 on Tuesday. The business has a 50-day simple moving average of $77.17 and a two-hundred day simple moving average of $87.83. The company has a market cap of $90.80 billion, a P/E ratio of 22.81, a P/E/G ratio of 1.11 and a beta of 1.48. Lam Research Co. has a 52-week low of $68.72 and a 52-week high of $113.00. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX) last released 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 business 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 business’s quarterly 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. Analysts predict that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 1.30%. Lam Research’s dividend payout ratio (DPR) is presently 29.74%.

Insider Activity at Lam Research

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