Lam Research Co. (NASDAQ:LRCX) Shares Acquired by SevenBridge Financial Group LLC

SevenBridge Financial Group LLC raised its position in shares of Lam Research Co. (NASDAQ:LRCX) by 906.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 32,770 shares of the semiconductor company’s stock after purchasing an additional 29,514 shares during the quarter. Lam Research comprises about 4.7% of SevenBridge Financial Group LLC’s investment portfolio, making the stock its 3rd largest position. SevenBridge Financial Group LLC’s holdings in Lam Research were worth $26,743,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in LRCX. Van ECK Associates Corp grew its position in shares of Lam Research by 1,394.7% during the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after buying an additional 15,005,178 shares during the last quarter. Foster Victor Wealth Advisors LLC grew its holdings in shares of Lam Research by 994.1% during the third quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company’s stock valued at $190,066,000 after purchasing an additional 211,614 shares during the last quarter. Swedbank AB acquired a new stake in shares of Lam Research during the 1st quarter worth approximately $192,668,000. Panagora Asset Management Inc. boosted its position in Lam Research by 208.2% during the 2nd quarter. Panagora Asset Management Inc. now owns 175,616 shares of the semiconductor company’s stock valued at $187,005,000 after purchasing an additional 118,634 shares during the period. Finally, Tairen Capital Ltd grew its stake in Lam Research by 199.5% during the 2nd quarter. Tairen Capital Ltd now owns 163,605 shares of the semiconductor company’s stock worth $174,215,000 after buying an additional 108,973 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Price Performance

Shares of Lam Research stock opened at $72.64 on Friday. Lam Research Co. has a 52 week low of $68.72 and a 52 week 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 stock has a market cap of $93.47 billion, a PE ratio of 23.48, a price-to-earnings-growth ratio of 1.16 and a beta of 1.48. The company’s 50-day moving average price is $76.93 and its two-hundred day moving average price is $87.32.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS 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 the consensus estimate of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same period in the previous year, the firm earned $6.85 EPS. As a group, sell-side analysts anticipate that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio is presently 29.74%.

Insider Buying and Selling

In related news, CAO Christina Correia sold 647 shares of the 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 owns 4,267 shares in the company, valued at $3,488,315.17. This trade represents a 13.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. BNP Paribas raised shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. B. Riley cut their price target on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft decreased their price objective on Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Finally, Morgan Stanley cut their target price on Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and an average target price of $97.97.

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.