Sanctuary Advisors LLC Has $130.50 Million Position in Lam Research Co. (NASDAQ:LRCX)

Sanctuary Advisors LLC boosted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 838.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 159,913 shares of the semiconductor company’s stock after acquiring an additional 142,878 shares during the quarter. Lam Research makes up approximately 0.8% of Sanctuary Advisors LLC’s portfolio, making the stock its 18th largest holding. Sanctuary Advisors LLC’s holdings in Lam Research were worth $130,502,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Lam Research during the 2nd quarter worth about $32,000. RFP Financial Group LLC lifted its holdings in Lam Research by 52.2% in the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 12 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in Lam Research during the second quarter worth approximately $40,000. MFA Wealth Advisors LLC acquired a new position in Lam Research during the second quarter valued at approximately $45,000. Finally, ORG Partners LLC bought a new position in shares of Lam Research in the second quarter valued at approximately $65,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Lam Research

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

Lam Research Trading Up 4.4 %

Shares of LRCX opened at $78.23 on Thursday. 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 stock has a market cap of $100.66 billion, a PE ratio of 25.32, a PEG ratio of 1.22 and a beta of 1.46. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The stock has a 50 day simple moving average of $75.99 and a 200-day simple moving average of $85.64.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The firm had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same period in the prior year, the company posted $6.85 earnings per share. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. On average, sell-side analysts predict that Lam Research Co. will post 3.5 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Wednesday, December 11th. Lam Research’s payout ratio is 29.77%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LRCX. B. Riley lowered their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. BNP Paribas upgraded Lam Research to a “hold” rating in a research note on Thursday, October 24th. Sanford C. Bernstein cut their price objective on Lam Research from $95.00 to $85.00 and set a “market perform” rating for the company in a research report on Friday, November 29th. UBS Group reduced their price objective on Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Finally, Morgan Stanley boosted their target price on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and a consensus target price of $97.24.

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.