WD Rutherford LLC Purchases 229 Shares of Lam Research Co. (NASDAQ:LRCX)

WD Rutherford LLC lifted its holdings in Lam Research Co. (NASDAQ:LRCX) by 28.0% in the third quarter, HoldingsChannel.com reports. The fund owned 1,047 shares of the semiconductor company’s stock after buying an additional 229 shares during the quarter. WD Rutherford LLC’s holdings in Lam Research were worth $854,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Lam Research by 16.1% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 910 shares of the semiconductor company’s stock worth $884,000 after buying an additional 126 shares in the last quarter. Monument Capital Management grew its position in shares of Lam Research by 11.8% during the first quarter. Monument Capital Management now owns 304 shares of the semiconductor company’s stock valued at $296,000 after purchasing an additional 32 shares in the last quarter. First Trust Direct Indexing L.P. lifted its position in shares of Lam Research by 12.5% in the first quarter. First Trust Direct Indexing L.P. now owns 3,559 shares of the semiconductor company’s stock worth $3,458,000 after buying an additional 395 shares in the last quarter. Everett Harris & Co. CA bought a new position in Lam Research during the first quarter valued at approximately $1,101,000. Finally, Maryland State Retirement & Pension System increased its stake in Lam Research by 0.8% in the 1st quarter. Maryland State Retirement & Pension System now owns 10,333 shares of the semiconductor company’s stock worth $9,500,000 after acquiring an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Up 3.8 %

Shares of NASDAQ LRCX opened at $78.31 on Wednesday. Lam Research Co. has a 12-month low of $57.44 and a 12-month high of $113.00. The stock’s fifty day simple moving average is $78.79 and its two-hundred day simple moving average is $89.37. The stock has a market capitalization of $10.24 billion, a PE ratio of 2.88, a price-to-earnings-growth ratio of 1.89 and a beta of 1.47. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.05. The company had revenue of $4.17 billion for 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 quarterly revenue was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.85 earnings per share. As a group, analysts expect that Lam Research Co. will post 3.23 EPS for the current fiscal year.

Lam Research Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were given 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 yield of 1.17%. Lam Research’s payout ratio is 3.38%.

Insider Buying and Selling at Lam Research

In other 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 transaction of $528,928.97. Following the transaction, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.32% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on LRCX. Citigroup cut their target price on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a report on Monday, September 16th. Wells Fargo & Company reduced their price objective on Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of Lam Research in a research report on Thursday, October 24th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 price objective (down from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and a consensus price target of $97.03.

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.