Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Financial Counselors Inc.

Financial Counselors Inc. grew its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 6.5% during the third quarter, Holdings Channel reports. The firm owned 11,142 shares of the semiconductor company’s stock after acquiring an additional 678 shares during the quarter. Financial Counselors Inc.’s holdings in Lam Research were worth $9,093,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Jennison Associates LLC raised its stake in Lam Research by 20.0% during the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock worth $194,451,000 after acquiring an additional 39,725 shares during the period. Creative Planning raised its position in shares of Lam Research by 2.5% during the 3rd quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock worth $38,664,000 after purchasing an additional 1,146 shares during the period. Vest Financial LLC lifted its holdings in shares of Lam Research by 68.7% in the 3rd quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock worth $29,372,000 after purchasing an additional 14,658 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Lam Research by 9.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 340,855 shares of the semiconductor company’s stock valued at $278,165,000 after purchasing an additional 28,089 shares during the period. Finally, Benson Investment Management Company Inc. acquired a new stake in Lam Research in the third quarter worth $5,182,000. 84.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LRCX has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft reduced their price target 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. Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of Lam Research in a research report on Thursday, October 24th. Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 price target (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Morgan Stanley decreased their price objective on 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, Cantor Fitzgerald restated a “neutral” rating and issued a $100.00 target price on shares of Lam Research in a research report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and a consensus target price of $97.97.

Insider Buying and Selling at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research 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 sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This trade represents a 13.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.29% of the company’s stock.

Lam Research Stock Performance

LRCX opened at $71.57 on Friday. 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 firm has a market cap of $92.09 billion, a PE ratio of 23.13, a P/E/G ratio of 1.14 and a beta of 1.48. The business has a fifty day simple moving average of $76.62 and a 200-day simple moving average of $86.79. Lam Research Co. has a fifty-two week low of $68.72 and a fifty-two week high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping 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 company had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. During the same period last year, the company posted $6.85 earnings per share. The business’s revenue for the quarter was up 19.7% on a year-over-year basis. As a group, equities analysts predict that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.29%. Lam Research’s payout ratio is presently 29.74%.

About Lam Research

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.