Charles Schwab Investment Management Inc. Buys 10,868 Shares of Lam Research Co. (NASDAQ:LRCX)

Charles Schwab Investment Management Inc. increased its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 1.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 822,599 shares of the semiconductor company's stock after acquiring an additional 10,868 shares during the period. Charles Schwab Investment Management Inc. owned about 0.06% of Lam Research worth $671,307,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of LRCX. Axxcess Wealth Management LLC grew its holdings in shares of Lam Research by 13.5% in the first quarter. Axxcess Wealth Management LLC now owns 1,889 shares of the semiconductor company's stock valued at $1,835,000 after acquiring an additional 225 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Lam Research by 13.9% in the first quarter. Advisors Asset Management Inc. now owns 3,683 shares of the semiconductor company's stock valued at $3,578,000 after acquiring an additional 449 shares in the last quarter. Capital International Investors grew its holdings in Lam Research by 116.7% during the first quarter. Capital International Investors now owns 10,295 shares of the semiconductor company's stock valued at $10,002,000 after purchasing an additional 5,544 shares during the period. Gabelli Funds LLC bought a new position in Lam Research during the first quarter valued at $276,000. Finally, Truvestments Capital LLC grew its holdings in Lam Research by 75.5% during the first quarter. Truvestments Capital LLC now owns 458 shares of the semiconductor company's stock valued at $445,000 after purchasing an additional 197 shares during the period. 84.61% of the stock is owned by institutional investors.

Insider Buying and Selling at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the firm's stock in a transaction dated 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 owns 4,267 shares in the company, valued at $3,488,315.17. This trade represents a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

LRCX has been the subject of several research reports. Stifel Nicolaus reissued a "buy" rating and set a $100.00 price objective (down from $105.00) on shares of Lam Research in a report on Thursday, October 24th. BNP Paribas raised Lam Research to a "hold" rating in a report on Thursday, October 24th. B. Riley reduced their price objective on Lam Research from $132.50 to $105.00 and set a "buy" rating for the company in a report on Wednesday, October 23rd. UBS Group reduced their price objective on Lam Research from $125.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, September 12th. Finally, Citigroup reduced their price objective on Lam Research from $99.00 to $89.30 and set a "buy" rating for the company in a report on Monday, September 16th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $97.03.

Lam Research Price Performance

Shares of LRCX stock traded down $0.49 on Friday, reaching $72.64. The company's stock had a trading volume of 8,664,033 shares, compared to its average volume of 11,240,152. 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 Co. has a 12-month low of $68.72 and a 12-month high of $113.00. The company has a market capitalization of $93.47 billion, a P/E ratio of 23.48, a PEG ratio of 1.12 and a beta of 1.48. The stock's 50 day simple moving average is $76.93 and its 200-day simple moving average is $87.35.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The company had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter last year, the business posted $6.85 earnings per share. The firm's revenue was up 19.7% compared to the same quarter last year. As a group, equities analysts predict that Lam Research Co. will post 3.52 earnings per share for the current fiscal 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 given a dividend of $0.23 per share. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.27%. Lam Research's payout ratio is 29.74%.

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.