Wilmington Savings Fund Society FSB Purchases 3,607 Shares of Lam Research Co. (NASDAQ:LRCX)

Wilmington Savings Fund Society FSB lifted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 383.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,547 shares of the semiconductor company’s stock after acquiring an additional 3,607 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Lam Research were worth $3,711,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LRCX. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Lam Research in the second quarter valued at approximately $32,000. RFP Financial Group LLC raised its holdings in Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 12 shares during the period. Hobbs Group Advisors LLC bought a new stake in Lam Research during the 2nd quarter valued at $40,000. MFA Wealth Advisors LLC bought a new position in shares of Lam Research in the second quarter worth $45,000. Finally, ORG Partners LLC bought a new position in shares of Lam Research in the second quarter worth $65,000. 84.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling 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 owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This trade represents a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.29% of the company’s stock.

Lam Research Trading Down 3.4 %

NASDAQ LRCX opened at $75.58 on Friday. The firm has a market cap of $97.25 billion, a PE ratio of 24.43, a price-to-earnings-growth ratio of 1.25 and a beta of 1.46. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00. The stock has a 50-day moving average of $75.88 and a 200-day moving average of $85.57. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The firm had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the previous year, the company posted $6.85 earnings per share. The business’s revenue was up 19.7% on a year-over-year basis. As a group, sell-side analysts forecast that Lam Research Co. will post 3.5 EPS for the current year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is presently 29.74%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on LRCX shares. Wells Fargo & Company dropped their price objective on Lam Research from $85.00 to $83.00 and set an “equal weight” rating on the stock in a report on Friday, December 6th. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Mizuho decreased their target price on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. Finally, Stifel Nicolaus restated a “buy” rating and set a $100.00 price target (down from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.24.

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.