Kesler Norman & Wride LLC Buys New Holdings in Lam Research Co. (NASDAQ:LRCX)

Kesler Norman & Wride LLC bought a new stake in Lam Research Co. (NASDAQ:LRCX) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 516 shares of the semiconductor company’s stock, valued at approximately $422,000.

A number of other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Lam Research by 1.2% in the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after buying an additional 144,914 shares during the last quarter. Fisher Asset Management LLC boosted its position in Lam Research by 3.0% in the fourth quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock valued at $2,329,037,000 after buying an additional 86,721 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Lam Research by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock worth $2,875,023,000 after purchasing an additional 142,903 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Lam Research by 7.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock worth $1,335,522,000 after purchasing an additional 89,470 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in Lam Research by 11.1% in the 2nd quarter. Van ECK Associates Corp now owns 1,075,893 shares of the semiconductor company’s stock worth $1,145,664,000 after purchasing an additional 107,778 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on LRCX shares. Needham & Company LLC restated a “buy” rating and issued a $113.00 price objective on shares of Lam Research in a research report on Thursday, August 1st. Morgan Stanley lowered their price objective on Lam Research from $92.90 to $77.40 and set an “equal weight” rating on the stock in a research report on Tuesday, September 17th. Mizuho lowered their price objective on Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. UBS Group lowered their price objective on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Finally, Citigroup lowered their price objective on Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research report on Monday, September 16th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $141.28.

Lam Research Stock Up 0.5 %

NASDAQ LRCX opened at $81.01 on Wednesday. The business has a fifty day moving average price of $95.12 and a 200 day moving average price of $96.64. Lam Research Co. has a one year low of $57.44 and a one year high of $113.00. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. The company has a market cap of $10.59 billion, a P/E ratio of 2.98, a P/E/G ratio of 1.51 and a beta of 1.47.

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, 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 business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same period last year, the company earned $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 EPS for the current fiscal year.

Lam Research Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend was Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is presently 3.38%.

Insiders Place Their Bets

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

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.