Turtle Creek Wealth Advisors LLC Boosts Stake in Lam Research Co. (NASDAQ:LRCX)

Turtle Creek Wealth Advisors LLC lifted its holdings in Lam Research Co. (NASDAQ:LRCX) by 1.9% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,788 shares of the semiconductor company’s stock after buying an additional 147 shares during the period. Lam Research makes up approximately 1.3% of Turtle Creek Wealth Advisors LLC’s portfolio, making the stock its 22nd biggest holding. Turtle Creek Wealth Advisors LLC’s holdings in Lam Research were worth $6,356,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of LRCX. Cornercap Investment Counsel Inc. boosted its stake in Lam Research by 184.8% in the third quarter. Cornercap Investment Counsel Inc. now owns 1,777 shares of the semiconductor company’s stock valued at $1,450,000 after acquiring an additional 1,153 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Lam Research by 5.3% during the third quarter. CIBC Asset Management Inc now owns 40,423 shares of the semiconductor company’s stock valued at $32,988,000 after purchasing an additional 2,051 shares during the period. Lifeworks Advisors LLC increased its position in Lam Research by 23.5% in the third quarter. Lifeworks Advisors LLC now owns 1,838 shares of the semiconductor company’s stock worth $1,500,000 after buying an additional 350 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Lam Research by 5.7% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,646 shares of the semiconductor company’s stock valued at $2,975,000 after buying an additional 198 shares during the period. Finally, Huntington National Bank lifted its position in shares of Lam Research by 2.8% during the 3rd quarter. Huntington National Bank now owns 28,235 shares of the semiconductor company’s stock valued at $23,042,000 after buying an additional 770 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Trading Down 6.3 %

Shares of LRCX traded down $4.74 during trading hours on Friday, hitting $70.05. The company had a trading volume of 14,577,423 shares, compared to its average volume of 11,263,735. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. Lam Research Co. has a 52-week low of $68.72 and a 52-week high of $113.00. The stock’s 50 day moving average price is $77.23 and its 200 day moving average price is $87.99. The firm has a market cap of $90.13 billion, a P/E ratio of 22.64, a P/E/G ratio of 1.17 and a beta of 1.48.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.81 by $0.05. The business had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. Lam Research’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.85 earnings per share. On average, research analysts predict that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Wednesday, December 11th. Lam Research’s payout ratio is currently 29.74%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Citigroup reduced their target price on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research note on Monday, September 16th. TD Cowen increased their price target on shares of Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. Mizuho lowered their target price on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Finally, BNP Paribas raised shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $97.03.

Insider Transactions at Lam Research

In other Lam Research 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. The trade was a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.29% of the company’s stock.

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.