Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Stiles Financial Services Inc

Stiles Financial Services Inc lifted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 11.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,358 shares of the semiconductor company’s stock after acquiring an additional 461 shares during the quarter. Lam Research comprises approximately 1.3% of Stiles Financial Services Inc’s holdings, making the stock its 19th biggest holding. Stiles Financial Services Inc’s holdings in Lam Research were worth $3,564,000 as of its most recent SEC filing.

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

Insider Activity at Lam Research

In other news, CAO Christina Correia sold 647 shares of the 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 completion of the transaction, the chief accounting officer now owns 4,267 shares in the company, valued at approximately $3,488,315.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. 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. Cantor Fitzgerald restated a “neutral” rating and set a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. Citigroup dropped their price objective on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research note on Monday, September 16th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective 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 given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $97.03.

Lam Research Price Performance

NASDAQ LRCX opened at $79.17 on Friday. The company has a market cap of $101.87 billion, a P/E ratio of 25.60, a P/E/G ratio of 1.18 and a beta of 1.48. Lam Research Co. has a 1 year low of $64.85 and a 1 year high of $113.00. The company has a fifty day simple moving average of $77.73 and a 200 day simple moving average of $88.66. 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 earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. The firm had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period in the prior year, the company earned $6.85 EPS. On average, sell-side analysts predict that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Dividend Announcement

The business also recently announced 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. This represents a $0.92 annualized dividend and a yield of 1.16%. Lam Research’s payout ratio is currently 29.74%.

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.