Advisors Asset Management Inc. Buys 144 Shares of Lam Research Co. (NASDAQ:LRCX)

Advisors Asset Management Inc. raised its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 3.9% in the third quarter, Holdings Channel reports. The fund owned 3,859 shares of the semiconductor company’s stock after acquiring an additional 144 shares during the period. Advisors Asset Management Inc.’s holdings in Lam Research were worth $3,149,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in LRCX. CarsonAllaria Wealth Management Ltd. bought a new position in Lam Research during the 2nd quarter valued at about $32,000. RFP Financial Group LLC raised 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 acquiring an additional 12 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Lam Research in the 2nd quarter worth approximately $40,000. Country Trust Bank bought a new stake in Lam Research during the 2nd quarter worth approximately $43,000. Finally, MFA Wealth Advisors LLC acquired a new stake in Lam Research during the 2nd quarter valued at $45,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Price Performance

Shares of LRCX opened at $72.64 on Friday. The stock has a market cap of $93.47 billion, a P/E ratio of 23.48, a price-to-earnings-growth ratio of 1.16 and a beta of 1.48. Lam Research Co. has a 1 year low of $68.72 and a 1 year high of $113.00. The stock’s 50-day moving average price is $76.93 and its two-hundred day moving average price is $87.32. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same quarter last year, the firm earned $6.85 EPS. Lam Research’s quarterly revenue was up 19.7% compared to the same quarter last year. On average, equities analysts predict 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 given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio is currently 29.74%.

Insider Buying and Selling

In other Lam Research 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 value of $528,928.97. Following the completion of the sale, the chief accounting officer now directly owns 4,267 shares in the company, valued at $3,488,315.17. This represents a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Needham & Company LLC reissued a “buy” rating and set a $100.00 price objective on shares of Lam Research in a report on Thursday, October 24th. 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. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a research report on Thursday, October 24th. Finally, StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $97.97.

Lam Research 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.