Benjamin Edwards Inc. Boosts Stake in Lam Research Co. (NASDAQ:LRCX)

Benjamin Edwards Inc. grew its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 4,085.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,395 shares of the semiconductor company's stock after purchasing an additional 13,075 shares during the period. Benjamin Edwards Inc.'s holdings in Lam Research were worth $10,932,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in LRCX. Jennison Associates LLC lifted its stake in shares of Lam Research by 20.0% in the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company's stock valued at $194,451,000 after buying an additional 39,725 shares in the last quarter. Creative Planning boosted its stake in Lam Research by 2.5% during the 3rd quarter. Creative Planning now owns 47,377 shares of the semiconductor company's stock valued at $38,664,000 after purchasing an additional 1,146 shares during the last quarter. Vest Financial LLC increased its holdings in Lam Research by 68.7% during the 3rd quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company's stock worth $29,372,000 after purchasing an additional 14,658 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Lam Research by 9.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 340,855 shares of the semiconductor company's stock worth $278,165,000 after purchasing an additional 28,089 shares in the last quarter. Finally, Benson Investment Management Company Inc. purchased a new stake in shares of Lam Research in the third quarter worth approximately $5,182,000. Institutional investors own 84.61% of the company's stock.

Insider Activity

In related news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction 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 completion of the sale, the chief accounting officer now owns 4,267 shares of the company's stock, valued at approximately $3,488,315.17. This trade represents a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.29% of the company's stock.

Wall Street Analyst Weigh In

LRCX has been the subject of several recent research reports. Wells Fargo & Company decreased their price target on Lam Research from $88.00 to $85.00 and set an "equal weight" rating for the company in a report on Thursday, October 24th. UBS Group reduced their target price on shares of Lam Research from $125.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, September 12th. Sanford C. Bernstein dropped their price target on shares of Lam Research from $95.00 to $85.00 and set a "market perform" rating on the stock in a research report on Friday. Morgan Stanley reduced their price objective on shares of Lam Research from $81.00 to $77.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 23rd. Finally, BNP Paribas raised shares of Lam Research to a "hold" rating in a research report on Thursday, October 24th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Lam Research has an average rating of "Moderate Buy" and a consensus price target of $97.29.

Lam Research Stock Performance

Shares of NASDAQ LRCX traded down $0.35 during midday trading on Tuesday, hitting $78.16. The company's stock had a trading volume of 3,799,646 shares, compared to its average volume of 11,234,931. The firm has a market capitalization of $100.57 billion, a price-to-earnings ratio of 25.20, a P/E/G ratio of 1.17 and a beta of 1.46. 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 fifty day moving average price of $76.52 and a 200 day moving average price of $86.64. Lam Research Co. has a one year low of $68.72 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the prior year, the business posted $6.85 earnings per share. The business's quarterly revenue was up 19.7% on a year-over-year basis. On average, research analysts forecast that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research's payout ratio is presently 29.74%.

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.