Concorde Asset Management LLC Takes Position in Lam Research Co. (NASDAQ:LRCX)

Concorde Asset Management LLC purchased a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 296 shares of the semiconductor company’s stock, valued at approximately $242,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of LRCX. Axxcess Wealth Management LLC raised its position in shares of Lam Research by 13.5% in the first quarter. Axxcess Wealth Management LLC now owns 1,889 shares of the semiconductor company’s stock valued at $1,835,000 after buying an additional 225 shares in the last quarter. Advisors Asset Management Inc. boosted its position in Lam Research by 13.9% during the first quarter. Advisors Asset Management Inc. now owns 3,683 shares of the semiconductor company’s stock valued at $3,578,000 after acquiring an additional 449 shares during the last quarter. Capital International Investors raised its holdings in shares of Lam Research by 116.7% during the first quarter. Capital International Investors now owns 10,295 shares of the semiconductor company’s stock valued at $10,002,000 after purchasing an additional 5,544 shares during the period. Gabelli Funds LLC acquired a new stake in shares of Lam Research in the 1st quarter worth about $276,000. Finally, Truvestments Capital LLC raised its holdings in shares of Lam Research by 75.5% in the 1st quarter. Truvestments Capital LLC now owns 458 shares of the semiconductor company’s stock worth $445,000 after acquiring an additional 197 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the 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 completion of the transaction, the chief accounting officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is owned by company insiders.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $73.05 on Friday. The firm has a fifty day moving average price of $76.97 and a 200-day moving average price of $87.46. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The stock has a market cap of $93.99 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 1.12 and a beta of 1.48. Lam Research Co. has a 1 year low of $68.72 and a 1 year high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its 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. The company had revenue of $4.17 billion during 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%. Lam Research’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period last year, the company posted $6.85 earnings per share. Equities analysts anticipate that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be paid a dividend of $0.23 per share. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 annualized dividend and a yield of 1.26%. Lam Research’s payout ratio is 29.74%.

Wall Street Analysts Forecast Growth

LRCX has been the subject of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Lam Research in a report on Thursday, October 24th. UBS Group cut their target price on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Morgan Stanley decreased their target price on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Finally, B. Riley decreased their price objective on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Lam Research has an average rating of “Moderate Buy” and a consensus price target of $97.03.

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.