Caprock Group LLC Acquires 156 Shares of Lam Research Co. (NASDAQ:LRCX)

Caprock Group LLC raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 4.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,317 shares of the semiconductor company’s stock after acquiring an additional 156 shares during the period. Caprock Group LLC’s holdings in Lam Research were worth $2,715,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Fortitude Family Office LLC grew its position in Lam Research by 16.7% during the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock worth $67,000 after acquiring an additional 9 shares during the last quarter. Thomasville National Bank boosted its stake in shares of Lam Research by 1.5% during the second quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock valued at $865,000 after purchasing an additional 12 shares during the period. Ignite Planners LLC grew its holdings in shares of Lam Research by 2.8% in the second quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock worth $484,000 after purchasing an additional 12 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its stake in shares of Lam Research by 3.7% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock worth $357,000 after buying an additional 12 shares during the period. Finally, RFP Financial Group LLC raised its holdings in Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Trading Down 0.6 %

Lam Research stock opened at $70.17 on Wednesday. Lam Research Co. has a 12 month low of $68.72 and a 12 month high of $113.00. The company has a market capitalization of $90.29 billion, a price-to-earnings ratio of 22.68, a price-to-earnings-growth ratio of 1.11 and a beta of 1.48. The business’s fifty day simple moving average is $77.10 and its two-hundred day simple moving average is $87.70. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The company had revenue of $4.17 billion for 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 revenue was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.85 EPS. As a group, equities analysts predict that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is currently 29.74%.

Insider Buying and Selling

In other Lam Research news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. The trade was a 13.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is owned by company insiders.

Analysts Set New Price Targets

LRCX has been the topic of a number of recent analyst reports. Morgan Stanley cut their price target on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Stifel Nicolaus restated 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. TD Cowen upped their price target on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company reduced their target price 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. Finally, BNP Paribas raised Lam Research to a “hold” rating in a research note on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $97.03.

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.