Glass Wealth Management Co LLC Acquires 210 Shares of Lam Research Co. (NASDAQ:LRCX)

Glass Wealth Management Co LLC boosted its holdings in Lam Research Co. (NASDAQ:LRCX) by 9.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,485 shares of the semiconductor company’s stock after acquiring an additional 210 shares during the quarter. Glass Wealth Management Co LLC’s holdings in Lam Research were worth $2,028,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Van ECK Associates Corp lifted its position in Lam Research by 1,394.7% during the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after purchasing an additional 15,005,178 shares during the last quarter. Foster Victor Wealth Advisors LLC lifted its holdings in shares of Lam Research by 994.1% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company’s stock worth $190,066,000 after acquiring an additional 211,614 shares during the last quarter. Swedbank AB purchased a new position in Lam Research in the first quarter worth $192,668,000. Price T Rowe Associates Inc. MD increased its stake in Lam Research by 5.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock valued at $2,875,023,000 after acquiring an additional 142,903 shares during the last quarter. Finally, Natixis raised its position in Lam Research by 1,267.1% during the first quarter. Natixis now owns 142,967 shares of the semiconductor company’s stock valued at $138,902,000 after purchasing an additional 132,509 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Christina Correia sold 647 shares of the company’s 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 sale, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This represents 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 at this link. 0.29% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on LRCX shares. Mizuho reduced 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. B. Riley reduced their price target on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. Finally, TD Cowen boosted their price target on shares of Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $97.03.

Lam Research Price Performance

Shares of LRCX stock opened at $70.05 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. Lam Research Co. has a fifty-two week low of $68.72 and a fifty-two week high of $113.00. The firm has a market cap of $90.13 billion, a P/E ratio of 22.64, a P/E/G ratio of 1.11 and a beta of 1.48. The business’s 50 day moving average price is $77.23 and its 200-day moving average price is $87.95.

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

Lam Research Announces Dividend

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

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.