Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Creative Planning

Creative Planning raised its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 2.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,377 shares of the semiconductor company’s stock after buying an additional 1,146 shares during the period. Creative Planning’s holdings in Lam Research were worth $38,664,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. CarsonAllaria Wealth Management Ltd. acquired a new position in Lam Research during the second quarter worth about $32,000. RFP Financial Group LLC grew its stake in shares of Lam Research by 52.2% in the 2nd 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 bought a new stake in shares of Lam Research in the 2nd quarter worth approximately $40,000. Country Trust Bank acquired a new stake in Lam Research during the second quarter valued at approximately $43,000. Finally, MFA Wealth Advisors LLC acquired a new position in Lam Research in the second quarter worth approximately $45,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 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 in the company, valued at approximately $3,488,315.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

LRCX has been the subject of several research reports. TD Cowen raised their price objective on Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. UBS Group decreased their price target on Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Mizuho reduced 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 note on Friday, September 20th. Cantor Fitzgerald dropped their target price on shares of Lam Research from $120.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, September 30th. Finally, Wells Fargo & Company reduced their price target 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. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $141.28.

Lam Research Price Performance

NASDAQ LRCX opened at $72.84 on Monday. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $9.52 billion, a PE ratio of 2.68, a price-to-earnings-growth ratio of 1.75 and a beta of 1.47. Lam Research Co. has a 12-month low of $57.44 and a 12-month high of $113.00. The company has a 50 day moving average price of $80.15 and a two-hundred day moving average price of $90.44.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same period in the prior year, the company posted $0.60 earnings per share. Lam Research’s revenue for the quarter was up 20.7% on a year-over-year basis. As a group, equities analysts predict that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were issued a $0.23 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.92 annualized dividend and a yield of 1.26%. Lam Research’s dividend payout ratio (DPR) is currently 3.38%.

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.