Gladstone Institutional Advisory LLC Has $1.66 Million Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Gladstone Institutional Advisory LLC reduced its holdings in Lam Research Co. (NASDAQ:LRCX) by 6.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,039 shares of the semiconductor company’s stock after selling 149 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Lam Research were worth $1,664,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Lam Research by 1.2% during the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock worth $11,519,576,000 after purchasing an additional 144,914 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Lam Research by 5.1% in the 1st 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 purchasing an additional 142,903 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Lam Research by 7.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock worth $1,335,522,000 after acquiring an additional 89,470 shares during the period. Van ECK Associates Corp raised its position in Lam Research by 11.1% during the second quarter. Van ECK Associates Corp now owns 1,075,893 shares of the semiconductor company’s stock valued at $1,145,664,000 after purchasing an additional 107,778 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Lam Research by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company’s stock valued at $654,009,000 after buying an additional 25,362 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LRCX. B. Riley decreased their price target on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. StockNews.com cut Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Citigroup lowered their price objective on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research note on Monday, September 16th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Lam Research in a research report on Thursday, October 24th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $100.00 price objective on shares of Lam Research in a report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $97.03.

Insider Buying and Selling

In related news, CAO Christina Correia sold 647 shares of the company’s 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 directly owns 4,267 shares in the company, valued at $3,488,315.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.29% of the stock is currently owned by company insiders.

Lam Research Stock Performance

Shares of LRCX opened at $74.80 on Friday. The firm has a market cap of $96.24 billion, a P/E ratio of 24.18, a PEG ratio of 1.18 and a beta of 1.48. Lam Research Co. has a twelve month low of $61.82 and a twelve month high of $113.00. The firm’s 50 day moving average price is $78.15 and its two-hundred day moving average price is $88.99. 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 (NASDAQ:LRCX) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same quarter last year, the business posted $6.85 earnings per share. The company’s quarterly revenue was up 19.7% on a year-over-year basis. On average, analysts forecast that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders 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 1.23%. Lam Research’s dividend payout ratio is presently 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.