Lam Research Co. (NASDAQ:LRCX) Shares Bought by Equitable Trust Co.

Equitable Trust Co. raised its holdings in Lam Research Co. (NASDAQ:LRCX) by 141.2% in the third quarter, Holdings Channel reports. The fund owned 1,517 shares of the semiconductor company’s stock after buying an additional 888 shares during the period. Equitable Trust Co.’s holdings in Lam Research were worth $1,238,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of LRCX. TCI Wealth Advisors Inc. purchased a new stake in shares of Lam Research in the 1st quarter valued at approximately $229,000. Montag A & Associates Inc. grew its stake in shares of Lam Research by 11.5% in the 1st quarter. Montag A & Associates Inc. now owns 1,613 shares of the semiconductor company’s stock valued at $1,571,000 after buying an additional 167 shares during the period. Atomi Financial Group Inc. grew its stake in shares of Lam Research by 15.8% in the 1st quarter. Atomi Financial Group Inc. now owns 595 shares of the semiconductor company’s stock valued at $578,000 after buying an additional 81 shares during the period. Concurrent Investment Advisors LLC grew its stake in shares of Lam Research by 11.3% in the 1st quarter. Concurrent Investment Advisors LLC now owns 859 shares of the semiconductor company’s stock valued at $834,000 after buying an additional 87 shares during the period. Finally, NorthRock Partners LLC grew its stake in shares of Lam Research by 28.6% in the 1st quarter. NorthRock Partners LLC now owns 878 shares of the semiconductor company’s stock valued at $853,000 after buying an additional 195 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Activity at Lam Research

In related news, CAO Christina Correia sold 647 shares of the business’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 completion of the sale, 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

LRCX has been the subject of several analyst reports. Wells Fargo & Company dropped their price target on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a research note 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. Citigroup lowered their price objective on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research report on Monday, September 16th. Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 price objective (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Finally, UBS Group lowered their price objective on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $97.03.

Lam Research Price Performance

Lam Research stock opened at $78.20 on Friday. The stock has a market cap of $100.62 billion, a P/E ratio of 25.27, a price-to-earnings-growth ratio of 1.22 and a beta of 1.48. The company has a fifty day simple moving average of $77.67 and a 200-day simple moving average of $88.52. Lam Research Co. has a 12-month low of $64.85 and a 12-month high of $113.00. 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 (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. The business 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 company’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same period in the previous year, the company earned $6.85 EPS. Equities analysts expect that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.18%. Lam Research’s dividend payout ratio (DPR) 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.