Financial Advocates Investment Management Raises Holdings in Lam Research Co. (NASDAQ:LRCX)

Financial Advocates Investment Management grew its position in Lam Research Co. (NASDAQ:LRCX) by 27.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 945 shares of the semiconductor company’s stock after buying an additional 201 shares during the quarter. Financial Advocates Investment Management’s holdings in Lam Research were worth $772,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in LRCX. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Lam Research in the 2nd quarter worth $32,000. RFP Financial Group LLC lifted its stake in shares of Lam Research by 52.2% during 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 purchased a new stake in shares of Lam Research during the 2nd quarter worth $40,000. Country Trust Bank purchased a new stake in shares of Lam Research during the 2nd quarter worth $43,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of Lam Research during the 2nd quarter worth $45,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on LRCX. BNP Paribas upgraded Lam Research to a “hold” rating in a research note on Thursday, October 24th. Morgan Stanley decreased their price objective on Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Stifel Nicolaus restated a “buy” rating and set a $100.00 price objective (down from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. UBS Group decreased their price objective on Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and an average price target of $97.03.

Lam Research Stock Up 0.6 %

Lam Research stock opened at $74.80 on Friday. The firm has a market cap of $96.24 billion, a price-to-earnings ratio of 24.18, a price-to-earnings-growth ratio of 1.22 and a beta of 1.47. Lam Research Co. has a 52 week low of $61.82 and a 52 week high of $113.00. The business’s 50-day moving average price is $78.15 and its 200 day moving average price is $89.03. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.81 by $0.05. The firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. Lam Research’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period last year, the company earned $6.85 earnings per share. As a group, sell-side analysts anticipate that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Cuts Dividend

The firm also recently declared 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 of this dividend 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 currently 29.74%.

Insiders Place Their Bets

In other Lam Research news, CAO Christina Correia sold 647 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the transaction, the chief accounting officer now owns 4,267 shares in the company, valued at approximately $3,488,315.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.