Lam Research Co. (NASDAQ:LRCX) Position Boosted by Cerity Partners LLC

Cerity Partners LLC raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 1.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,551 shares of the semiconductor company’s stock after acquiring an additional 577 shares during the period. Cerity Partners LLC’s holdings in Lam Research were worth $30,645,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. CarsonAllaria Wealth Management Ltd. acquired a new stake in Lam Research in the second quarter worth about $32,000. RFP Financial Group LLC boosted its holdings in shares of Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 12 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Lam Research during the second quarter valued at approximately $40,000. Country Trust Bank bought a new stake in Lam Research during the second quarter worth approximately $43,000. Finally, MFA Wealth Advisors LLC acquired a new stake in Lam Research in the second quarter worth approximately $45,000. Institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on LRCX shares. Mizuho dropped their price objective on Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Morgan Stanley dropped their price target on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Wells Fargo & Company reduced their price objective on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. Finally, Stifel Nicolaus restated a “buy” rating and set a $100.00 target price (down from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Lam Research has an average rating of “Moderate Buy” and an average target price of $97.97.

Lam Research Stock Performance

LRCX opened at $72.64 on Monday. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The stock’s 50 day moving average price is $76.93 and its two-hundred day moving average price is $87.29. The firm has a market capitalization of $93.47 billion, a P/E ratio of 23.48, a price-to-earnings-growth ratio of 1.16 and a beta of 1.48. Lam Research Co. has a 12-month low of $68.72 and a 12-month high of $113.00.

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

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio is currently 29.74%.

Insider Transactions at Lam Research

In related news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer now directly owns 4,267 shares in the company, valued at $3,488,315.17. This trade represents a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.29% of the stock is currently owned by insiders.

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.