Assetmark Inc. Purchases 1,879 Shares of Lam Research Co. (NASDAQ:LRCX)

Assetmark Inc. grew its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 6.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,432 shares of the semiconductor company’s stock after purchasing an additional 1,879 shares during the quarter. Assetmark Inc.’s holdings in Lam Research were worth $25,651,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of LRCX. Creative Planning grew its stake in Lam Research by 2.5% in the 3rd quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock valued at $38,664,000 after buying an additional 1,146 shares in the last quarter. Vest Financial LLC boosted its holdings in shares of Lam Research by 68.7% in the third quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock worth $29,372,000 after acquiring an additional 14,658 shares during the period. Benson Investment Management Company Inc. purchased a new position in shares of Lam Research in the third quarter valued at $5,182,000. Symmetry Investments LP bought a new stake in shares of Lam Research during the 2nd quarter valued at $3,229,000. Finally, Vontobel Holding Ltd. lifted its holdings in Lam Research by 38.4% during the 3rd quarter. Vontobel Holding Ltd. now owns 120,736 shares of the semiconductor company’s stock worth $98,530,000 after purchasing an additional 33,489 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

Lam Research stock opened at $78.20 on Friday. Lam Research Co. has a 1-year low of $64.85 and a 1-year high of $113.00. The firm has a market cap of $100.62 billion, a P/E ratio of 25.27, a P/E/G ratio of 1.22 and a beta of 1.48. 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 50-day moving average of $77.67 and a 200-day moving average of $88.52.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.05. The firm 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 business’s revenue was up 19.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.85 earnings per share. Sell-side analysts expect that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Announces Dividend

The business 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 1.18%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio is currently 29.74%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Lam Research in a research report on Thursday, October 24th. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a research note on Thursday, October 24th. Cantor Fitzgerald restated a “neutral” rating and set a $100.00 price target on shares of Lam Research in a research report on Thursday, October 24th. UBS Group decreased their price target on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Finally, TD Cowen lifted their price objective on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.03.

Insider Buying and Selling

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research 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 sale, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.29% of the stock is owned by insiders.

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.