Wedge Capital Management L L P NC Boosts Holdings in Lam Research Co. (NASDAQ:LRCX)

Wedge Capital Management L L P NC boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 12.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 73,408 shares of the semiconductor company's stock after acquiring an additional 8,302 shares during the period. Lam Research comprises about 1.0% of Wedge Capital Management L L P NC's holdings, making the stock its 16th biggest holding. Wedge Capital Management L L P NC's holdings in Lam Research were worth $59,907,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Lam Research during the second quarter worth $32,000. RFP Financial Group LLC grew its holdings in shares of Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company's stock valued at $37,000 after purchasing an additional 12 shares during the period. Hobbs Group Advisors LLC purchased a new stake in shares of Lam Research in the second quarter valued at about $40,000. Country Trust Bank purchased a new stake in shares of Lam Research in the second quarter valued at about $43,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of Lam Research in the second quarter valued at about $45,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LRCX. TD Cowen upped their price objective on shares of Lam Research from $100.00 to $105.00 and gave the company a "buy" rating in a report on Thursday, August 1st. StockNews.com lowered shares of Lam Research from a "buy" rating to a "hold" rating in a report on Friday. Citigroup dropped their price objective on shares of Lam Research from $99.00 to $89.30 and set a "buy" rating for the company in a report on Monday, September 16th. Wells Fargo & Company dropped their price objective on shares of Lam Research from $1,000.00 to $880.00 and set an "equal weight" rating for the company in a report on Thursday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Lam Research from $110.00 to $95.00 and set a "buy" rating on the stock in a research report on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $141.28.

Insider Buying and Selling at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the transaction, the chief accounting officer now directly owns 4,267 shares in the company, valued at $3,488,315.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.32% of the stock is currently owned by insiders.

Lam Research Stock Up 3.4 %

NASDAQ:LRCX traded up $2.81 during mid-day trading on Monday, hitting $85.70. The stock had a trading volume of 8,148,585 shares, compared to its average volume of 10,948,556. The stock has a 50-day simple moving average of $95.13 and a two-hundred day simple moving average of $96.14. The company has a market capitalization of $11.20 billion, a PE ratio of 3.15, a PEG ratio of 1.75 and a beta of 1.47. Lam Research Co. has a twelve month low of $57.44 and a twelve month high of $113.00. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.05. The firm had revenue of $3.87 billion for the quarter, compared to analysts' expectations of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The firm's revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 earnings per share. On average, equities research analysts anticipate that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were paid a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.92 annualized dividend and a yield of 1.07%. Lam Research's dividend payout ratio is currently 3.38%.

Lam Research 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.