Captrust Financial Advisors Boosts Stake in Lam Research Co. (NASDAQ:LRCX)

Captrust Financial Advisors boosted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 2.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 113,198 shares of the semiconductor company’s stock after acquiring an additional 2,539 shares during the quarter. Captrust Financial Advisors’ holdings in Lam Research were worth $92,379,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Jennison Associates LLC increased its position in Lam Research by 20.0% during the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock valued at $194,451,000 after acquiring an additional 39,725 shares during the last quarter. Creative Planning increased its position in Lam Research by 2.5% during the third quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock valued at $38,664,000 after acquiring an additional 1,146 shares during the last quarter. Vest Financial LLC increased its position in Lam Research by 68.7% during the third quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock valued at $29,372,000 after acquiring an additional 14,658 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in Lam Research by 9.0% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 340,855 shares of the semiconductor company’s stock valued at $278,165,000 after acquiring an additional 28,089 shares during the last quarter. Finally, Benson Investment Management Company Inc. purchased a new stake in Lam Research during the third quarter valued at $5,182,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Transactions at Lam Research

In other news, CAO Christina Correia sold 647 shares of the business’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 transaction, 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 13.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.29% of the company’s stock.

Lam Research Trading Down 1.5 %

Shares of NASDAQ LRCX opened at $71.57 on Friday. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The business has a fifty day simple moving average of $76.62 and a two-hundred day simple moving average of $86.79. The firm has a market cap of $92.09 billion, a PE ratio of 23.13, a price-to-earnings-growth ratio of 1.14 and a beta of 1.48. Lam Research Co. has a twelve month low of $68.72 and a twelve month high of $113.00.

Lam Research (NASDAQ:LRCX) last released its quarterly 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 during 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%. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period in the previous year, the company posted $6.85 EPS. Analysts expect that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Wednesday, December 11th. Lam Research’s payout ratio is 29.74%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LRCX. TD Cowen upped their price target on Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Morgan Stanley dropped 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. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Citigroup dropped their price objective on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research note on Monday, September 16th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $100.00 price target (down from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $97.97.

Lam Research Company 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.