Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Wedmont Private Capital

Wedmont Private Capital grew its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 893.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 14,522 shares of the semiconductor company’s stock after acquiring an additional 13,060 shares during the quarter. Lam Research comprises approximately 0.7% of Wedmont Private Capital’s holdings, making the stock its 27th largest position. Wedmont Private Capital’s holdings in Lam Research were worth $11,851,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vivaldi Capital Management LP acquired a new position in Lam Research during the 4th quarter valued at about $240,000. Point72 Hong Kong Ltd acquired a new position in shares of Lam Research during the fourth quarter valued at approximately $11,763,000. Kingfisher Capital LLC bought a new stake in Lam Research during the fourth quarter worth approximately $2,417,000. Chilton Investment Co. Inc. boosted its stake in Lam Research by 52.6% during the 4th quarter. Chilton Investment Co. Inc. now owns 1,271 shares of the semiconductor company’s stock valued at $996,000 after purchasing an additional 438 shares in the last quarter. Finally, Groupama Asset Managment acquired a new position in shares of Lam Research during the 4th quarter valued at $24,170,000. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

LRCX stock opened at $82.86 on Thursday. The firm has a 50 day simple moving average of $95.03 and a 200 day simple moving average of $96.52. Lam Research Co. has a 52 week low of $57.44 and a 52 week high of $113.00. The stock has a market cap of $10.83 billion, a P/E ratio of 3.05, a P/E/G ratio of 1.51 and a beta of 1.47. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.05. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.82 billion. During the same quarter last year, the business posted $0.60 EPS. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. Research analysts anticipate that Lam Research Co. will post 35.2 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.11%. The ex-dividend date was Tuesday, September 17th. Lam Research’s payout ratio is presently 3.38%.

Analyst Ratings Changes

Several brokerages recently weighed in on LRCX. Mizuho decreased their target price on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Wells Fargo & Company reduced their price objective on shares of Lam Research from $1,000.00 to $880.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $113.00 target price on shares of Lam Research in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Finally, UBS Group dropped their price target on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $141.28.

Insider Buying and Selling

In other Lam Research news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the transaction, the chief accounting officer now directly owns 4,267 shares in the company, valued at $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Lam Research 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 transaction of $528,928.97. Following the completion of the transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Neil J. Fernandes sold 16,200 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $105.70, for a total value of $1,712,323.80. Following the sale, the senior vice president now owns 52,370 shares of the company’s stock, valued at approximately $5,535,456.63. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.32% 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.