Paladin Wealth LLC Takes $492,000 Position in Lam Research Co. (NASDAQ:LRCX)

Paladin Wealth LLC bought a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the third quarter, Holdings Channel.com reports. The fund bought 603 shares of the semiconductor company’s stock, valued at approximately $492,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Polianta Ltd bought a new position in shares of Lam Research in the 3rd quarter worth about $1,142,000. Viking Fund Management LLC grew its stake in Lam Research by 150.0% during the third quarter. Viking Fund Management LLC now owns 10,000 shares of the semiconductor company’s stock worth $8,161,000 after purchasing an additional 6,000 shares during the period. Sunflower Bank N.A. bought a new stake in Lam Research in the third quarter worth approximately $202,000. CHICAGO TRUST Co NA lifted its stake in Lam Research by 17.9% in the third quarter. CHICAGO TRUST Co NA now owns 3,204 shares of the semiconductor company’s stock valued at $2,615,000 after buying an additional 486 shares during the period. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Lam Research by 30.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 5,209 shares of the semiconductor company’s stock worth $4,251,000 after buying an additional 1,204 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the transaction, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.32% of the company’s stock.

Lam Research Price Performance

LRCX opened at $83.60 on Monday. The firm’s fifty day moving average price is $94.96 and its two-hundred day moving average price is $96.22. The company has a market capitalization of $10.93 billion, a price-to-earnings ratio of 3.05, a P/E/G ratio of 1.75 and a beta of 1.47. 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.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.05. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The business had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.82 billion. During the same period in the previous year, the company earned $0.60 earnings per share. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. As a group, analysts anticipate that Lam Research Co. will post 3.52 earnings per share for the current fiscal 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 issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.92 dividend on an annualized basis and a yield of 1.10%. Lam Research’s dividend payout ratio (DPR) is currently 3.38%.

Analyst Ratings Changes

Several research firms have recently weighed in on LRCX. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday. B. Riley increased their price objective on shares of Lam Research from $113.00 to $132.50 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $113.00 target price on shares of Lam Research in a research report on Thursday, August 1st. Finally, Morgan Stanley cut their price target on Lam Research from $92.90 to $77.40 and set an “equal weight” rating on the stock in a report on Tuesday, September 17th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $141.28.

Lam Research 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.