Eldred Rock Partners LLC Has $12.58 Million Holdings in Lam Research Co. (NASDAQ:LRCX)

Eldred Rock Partners LLC lifted its position in Lam Research Co. (NASDAQ:LRCX) by 4.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,370 shares of the semiconductor company’s stock after buying an additional 630 shares during the period. Lam Research comprises 4.2% of Eldred Rock Partners LLC’s portfolio, making the stock its 5th largest holding. Eldred Rock Partners LLC’s holdings in Lam Research were worth $12,579,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. CIBC Private Wealth Group LLC boosted its holdings in shares of Lam Research by 1.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,960 shares of the semiconductor company’s stock valued at $3,101,000 after acquiring an additional 55 shares during the last quarter. Morningstar Investment Services LLC purchased a new stake in Lam Research in the fourth quarter worth approximately $419,000. Prudential PLC grew its position in Lam Research by 2.7% in the 4th quarter. Prudential PLC now owns 8,837 shares of the semiconductor company’s stock worth $6,922,000 after purchasing an additional 231 shares during the period. Clal Insurance Enterprises Holdings Ltd purchased a new stake in Lam Research during the 4th quarter valued at $30,231,000. Finally, Socorro Asset Management LP lifted its holdings in shares of Lam Research by 0.9% during the 4th quarter. Socorro Asset Management LP now owns 10,948 shares of the semiconductor company’s stock valued at $8,575,000 after buying an additional 95 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Neil J. Fernandes sold 16,200 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $105.70, for a total transaction of $1,712,323.80. Following the sale, the senior vice president now directly owns 52,370 shares in the company, valued at $5,535,456.63. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Neil J. Fernandes sold 16,200 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $105.70, for a total transaction of $1,712,323.80. Following the completion of the sale, the senior vice president now directly 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 owned by company insiders.

Lam Research Price Performance

NASDAQ LRCX traded up $0.43 on Friday, reaching $81.54. The company had a trading volume of 7,589,684 shares, compared to its average volume of 11,054,300. The firm’s 50 day moving average price is $95.29 and its 200 day moving average price is $96.72. Lam Research Co. has a 12 month low of $57.44 and a 12 month high of $113.00. The stock has a market capitalization of $10.66 billion, a PE ratio of 3.00, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.76 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 $3.87 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same period in the previous year, the business earned $0.60 earnings per share. The firm’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 35.2 earnings per share for the current year.

Lam Research Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Tuesday, September 17th. Lam Research’s payout ratio is 33.84%.

Wall Street Analyst Weigh In

Several analysts recently commented on LRCX shares. Deutsche Bank Aktiengesellschaft cut their price objective on Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Cantor Fitzgerald reduced their price target on shares of Lam Research from $120.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, September 30th. B. Riley raised their price objective on shares of Lam Research from $113.00 to $132.50 and gave the stock a “buy” rating in a report on Thursday, June 20th. Morgan Stanley cut their target price on shares of Lam Research from $92.90 to $77.40 and set an “equal weight” rating for the company in a research report on Tuesday, September 17th. Finally, Mizuho decreased their price target on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.28.

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.