Lam Research Co. (NASDAQ:LRCX) Stock Position Boosted by SevenBridge Financial Group LLC

SevenBridge Financial Group LLC increased its position in Lam Research Co. (NASDAQ:LRCX - Free Report) by 906.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 makes up about 4.7% of SevenBridge Financial Group LLC's portfolio, making the stock its 3rd biggest 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 institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp lifted its holdings in Lam Research by 1,394.7% during the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company's stock worth $13,123,440,000 after buying an additional 15,005,178 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Lam Research by 7.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company's stock worth $1,335,522,000 after purchasing an additional 89,470 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Lam Research by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 822,599 shares of the semiconductor company's stock valued at $671,307,000 after buying an additional 10,868 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Lam Research by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company's stock valued at $654,009,000 after buying an additional 25,362 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of Lam Research by 2.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 420,117 shares of the semiconductor company's stock worth $447,362,000 after acquiring an additional 8,295 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Price Performance

LRCX stock traded down $0.49 during mid-day trading on Friday, reaching $72.64. 8,666,481 shares of the company's stock were exchanged, compared to its average volume of 11,003,511. The company has a market cap of $93.47 billion, a price-to-earnings ratio of 23.48, a price-to-earnings-growth ratio of 1.16 and a beta of 1.48. Lam Research Co. has a 12-month low of $68.72 and a 12-month high of $113.00. The stock's 50 day moving average is $76.93 and its 200 day moving average is $87.29. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same quarter last year, the business earned $6.85 earnings per share. The company's revenue for the quarter was up 19.7% compared to the same quarter last year. On average, research analysts expect that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Announces Dividend

The company 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. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.27%. Lam Research's payout ratio is currently 29.74%.

Insider Activity

In related news, CAO Christina Correia sold 647 shares of the business's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the transaction, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. The trade was a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.29% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on LRCX shares. Cantor Fitzgerald reiterated a "neutral" rating and set a $100.00 price objective on shares of Lam Research in a report on Thursday, October 24th. Needham & Company LLC reaffirmed a "buy" rating and set a $100.00 price target on shares of Lam Research in a research report on Thursday, October 24th. BNP Paribas upgraded shares of Lam Research to a "hold" rating in a report on Thursday, October 24th. Stifel Nicolaus restated a "buy" rating and set a $100.00 price objective (down from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Finally, UBS Group cut their price objective on shares of Lam Research from $125.00 to $115.00 and set a "buy" rating on the stock in a research note on Thursday, September 12th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Lam Research has an average rating of "Moderate Buy" and a consensus price target 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.