Means Investment CO. Inc. Buys 231 Shares of Lam Research Co. (NASDAQ:LRCX)

Means Investment CO. Inc. boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 1.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,431 shares of the semiconductor company’s stock after purchasing an additional 231 shares during the period. Lam Research comprises 1.2% of Means Investment CO. Inc.’s portfolio, making the stock its 16th largest holding. Means Investment CO. Inc.’s holdings in Lam Research were worth $10,961,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Lam Research during the 2nd quarter valued at about $32,000. RFP Financial Group LLC raised its position in Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 12 shares during the period. Hobbs Group Advisors LLC purchased a new position in shares of Lam Research during the 2nd quarter worth $40,000. Country Trust Bank bought a new stake in shares of Lam Research during the 2nd quarter valued at $43,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of Lam Research in the 2nd quarter worth $45,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Mizuho lowered their target price on Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Morgan Stanley cut their price objective on Lam Research from $92.90 to $77.40 and set an “equal weight” rating for the company in a research note on Tuesday, September 17th. TD Cowen raised their target price on shares of Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Finally, Needham & Company LLC restated a “buy” rating and set a $113.00 price objective on shares of Lam Research in a research report on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $141.28.

Lam Research Trading Down 0.4 %

Shares of LRCX opened at $72.84 on Friday. The stock has a market capitalization of $9.52 billion, a PE ratio of 2.68, a P/E/G ratio of 1.75 and a beta of 1.47. The company’s fifty day moving average is $80.15 and its 200 day moving average is $90.48. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. Lam Research Co. has a fifty-two week low of $57.44 and a fifty-two week high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.05. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same period in the previous year, the firm posted $0.60 EPS. The business’s quarterly revenue was up 20.7% on a year-over-year basis. Sell-side analysts expect that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.26%. The ex-dividend date was Tuesday, September 17th. Lam Research’s payout ratio is 3.38%.

Insider Transactions at Lam Research

In related news, CAO Christina Correia sold 647 shares of the firm’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 sale, the chief accounting officer now directly owns 4,267 shares in the company, valued at $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.32% of the company’s stock.

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.