White Knight Strategic Wealth Advisors LLC Boosts Holdings in Lam Research Co. (NASDAQ:LRCX)

White Knight Strategic Wealth Advisors LLC boosted its stake in Lam Research Co. (NASDAQ:LRCX) by 18.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,950 shares of the semiconductor company’s stock after acquiring an additional 307 shares during the period. Lam Research comprises approximately 1.4% of White Knight Strategic Wealth Advisors LLC’s portfolio, making the stock its 20th largest position. White Knight Strategic Wealth Advisors LLC’s holdings in Lam Research were worth $1,591,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Citigroup decreased their price target on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research note on Monday, September 16th. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Morgan Stanley dropped their price target on Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. 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 report on Thursday, October 24th. Finally, Sanford C. Bernstein dropped their target price on Lam Research from $95.00 to $85.00 and set a “market perform” rating on the stock in a report on Friday. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $97.29.

Lam Research Trading Up 3.2 %

Shares of LRCX opened at $73.88 on Friday. Lam Research Co. has a twelve month low of $68.72 and a twelve month high of $113.00. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $95.06 billion, a P/E ratio of 23.91, a PEG ratio of 1.14 and a beta of 1.48. The firm’s 50-day moving average is $76.52 and its two-hundred day moving average is $86.70.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The company’s revenue was up 19.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.85 EPS. On average, research analysts predict that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 annualized dividend and a yield of 1.25%. Lam Research’s dividend payout ratio (DPR) is currently 29.77%.

Insiders Place Their Bets

In other news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction on 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 directly owns 4,267 shares of the company’s stock, valued at $3,488,315.17. The trade was a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.29% of the stock is currently owned by company insiders.

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.