Mainstay Capital Management LLC ADV Buys 800 Shares of Lam Research Co. (NASDAQ:LRCX)

Mainstay Capital Management LLC ADV increased its position in Lam Research Co. (NASDAQ:LRCX) by 50.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,378 shares of the semiconductor company’s stock after acquiring an additional 800 shares during the quarter. Lam Research comprises about 0.3% of Mainstay Capital Management LLC ADV’s holdings, making the stock its 29th biggest holding. Mainstay Capital Management LLC ADV’s holdings in Lam Research were worth $1,941,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. CarsonAllaria Wealth Management Ltd. bought a new position in Lam Research in the 2nd quarter worth about $32,000. RFP Financial Group LLC increased its position 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 worth $37,000 after purchasing an additional 12 shares during the last quarter. Hobbs Group Advisors LLC purchased a new stake in Lam Research in the second quarter valued at approximately $40,000. Country Trust Bank bought a new stake in Lam Research during the second quarter valued at approximately $43,000. Finally, MFA Wealth Advisors LLC purchased a new position in Lam Research in the 2nd quarter worth approximately $45,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Price Performance

LRCX stock opened at $76.57 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. Lam Research Co. has a 1 year low of $57.44 and a 1 year high of $113.00. The firm has a 50-day moving average of $79.60 and a 200 day moving average of $89.94. The company has a market cap of $10.01 billion, a P/E ratio of 2.82, a PEG ratio of 1.75 and a beta of 1.47.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The company had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. During the same quarter last year, the business posted $6.85 EPS. The firm’s revenue for the quarter was up 19.7% compared to the same quarter last year. On average, sell-side analysts forecast that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is presently 3.38%.

Insider Transactions at Lam Research

In related news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated Tuesday, October 1st. The shares were 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 of the company’s stock, valued at $3,488,315.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LRCX. TD Cowen raised their price objective on shares of Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lowered their price target on Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. B. Riley cut their price objective on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday. Stifel Nicolaus reissued a “buy” rating and set a $100.00 price objective (down from $105.00) on shares of Lam Research in a report on Thursday. Finally, UBS Group cut their target price on Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $97.03.

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.