Lam Research Co. (NASDAQ:LRCX) Holdings Boosted by Arkadios Wealth Advisors

Arkadios Wealth Advisors increased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 13.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 9,164 shares of the semiconductor company’s stock after acquiring an additional 1,060 shares during the period. Arkadios Wealth Advisors’ holdings in Lam Research were worth $7,478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Lam Research by 20.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 126,261 shares of the semiconductor company’s stock valued at $104,433,000 after buying an additional 21,117 shares during the period. Allworth Financial LP lifted its holdings in shares of Lam Research by 12.2% in the third quarter. Allworth Financial LP now owns 2,126 shares of the semiconductor company’s stock valued at $1,735,000 after purchasing an additional 231 shares in the last quarter. CWC Advisors LLC. acquired a new stake in Lam Research during the 3rd quarter worth about $220,000. Burford Brothers Inc. purchased a new position in Lam Research during the third quarter valued at approximately $575,000. Finally, Cullinan Associates Inc. increased its stake in shares of Lam Research by 900.0% in the third quarter. Cullinan Associates Inc. now owns 97,000 shares of the semiconductor company’s stock worth $79,160,000 after acquiring an additional 87,300 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on LRCX shares. Morgan Stanley lowered their target price 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. B. Riley lowered their price target on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday. 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. TD Cowen lifted their price objective on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus restated a “buy” rating and set a $100.00 price target (down from $105.00) on shares of Lam Research in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $97.03.

Lam Research Stock Up 1.4 %

LRCX stock traded up $1.11 during trading on Friday, reaching $77.68. The stock had a trading volume of 14,591,080 shares, compared to its average volume of 11,291,600. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $100.68 billion, a price-to-earnings ratio of 26.79, a P/E/G ratio of 1.89 and a beta of 1.47. The company’s 50 day moving average is $79.44 and its two-hundred day moving average is $89.84. Lam Research Co. has a one year low of $57.44 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX) last announced 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 company had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The firm’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter last year, the firm posted $6.85 EPS. Equities research analysts forecast that Lam Research Co. will post 3.23 EPS for the current year.

Lam Research Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.18%. Lam Research’s dividend payout ratio is 31.72%.

Insider Transactions at Lam Research

In other Lam Research 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 value of $528,928.97. Following 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 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.29% of the company’s stock.

Lam Research Company 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.