Lam Research Co. (NASDAQ:LRCX) Stock Position Raised by nVerses Capital LLC

nVerses Capital LLC lifted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 71.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,200 shares of the semiconductor company’s stock after buying an additional 500 shares during the period. nVerses Capital LLC’s holdings in Lam Research were worth $979,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. CarsonAllaria Wealth Management Ltd. acquired a new stake in Lam Research during the second quarter valued at approximately $32,000. RFP Financial Group LLC lifted its stake in Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 12 shares during the last quarter. Hobbs Group Advisors LLC acquired a new stake in Lam Research during the second quarter valued at 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 purchased a new stake in shares of Lam Research in the 2nd quarter valued at approximately $45,000. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on LRCX shares. 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. UBS Group reduced their price target on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. B. Riley upped their price target on shares of Lam Research from $113.00 to $132.50 and gave the company a “buy” rating in a research report on Thursday, June 20th. StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $113.00 target price on shares of Lam Research in a research note on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.28.

Insider Buying and Selling

In related news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.32% of the stock is owned by insiders.

Lam Research Trading Up 0.3 %

Shares of NASDAQ:LRCX traded up $0.25 during trading on Thursday, hitting $74.39. 5,423,300 shares of the company’s stock were exchanged, compared to its average volume of 11,041,426. The firm has a 50-day moving average price of $95.11 and a two-hundred day moving average price of $95.84. Lam Research Co. has a 1-year low of $57.44 and a 1-year high of $113.00. The firm has a market cap of $9.73 billion, a P/E ratio of 2.74, a PEG ratio of 1.75 and a beta of 1.47. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data 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 analyst estimates of $3.82 billion. During the same quarter last year, the firm earned $0.60 EPS. Lam Research’s quarterly revenue was up 20.7% compared to the same quarter last year. Equities analysts predict that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Cuts Dividend

The company also recently disclosed 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 annualized dividend and a yield of 1.24%. The ex-dividend date was Tuesday, September 17th. Lam Research’s payout ratio is 3.38%.

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.