Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Vontobel Holding Ltd.

Vontobel Holding Ltd. raised its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 38.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 120,736 shares of the semiconductor company's stock after acquiring an additional 33,489 shares during the period. Vontobel Holding Ltd. owned approximately 0.09% of Lam Research worth $98,530,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Foster Victor Wealth Advisors LLC increased its stake in shares of Lam Research by 994.1% in the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company's stock worth $190,066,000 after purchasing an additional 211,614 shares in the last quarter. Swedbank AB bought a new position in shares of Lam Research during the 1st quarter valued at about $192,668,000. Van ECK Associates Corp increased its stake in Lam Research by 24.6% in the 1st quarter. Van ECK Associates Corp now owns 968,115 shares of the semiconductor company's stock worth $940,592,000 after acquiring an additional 191,230 shares during the last quarter. Vanguard Group Inc. raised its stake in Lam Research by 1.2% during the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company's stock valued at $11,519,576,000 after purchasing an additional 144,914 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Lam Research by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company's stock valued at $2,875,023,000 after acquiring an additional 142,903 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Lam Research news, CAO Christina Correia sold 647 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 4,267 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Insiders own 0.32% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on LRCX shares. Deutsche Bank Aktiengesellschaft lowered their price objective on Lam Research from $110.00 to $95.00 and set a "buy" rating for the company in a research note on Thursday, August 1st. TD Cowen increased their target price on shares of Lam Research from $100.00 to $105.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Morgan Stanley dropped their price target on shares of Lam Research from $92.90 to $77.40 and set an "equal weight" rating for the company in a research note on Tuesday, September 17th. Wells Fargo & Company reduced their price objective on shares of Lam Research from $1,000.00 to $880.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 3rd. Finally, Cantor Fitzgerald cut their target price on Lam Research from $120.00 to $100.00 and set a "neutral" rating on the stock in a research note on Monday, September 30th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $141.28.

Lam Research Stock Down 2.9 %

NASDAQ:LRCX traded down $2.22 during mid-day trading on Wednesday, hitting $74.14. 20,437,430 shares of the company's stock traded hands, compared to its average volume of 11,069,357. Lam Research Co. has a twelve month low of $57.44 and a twelve month high of $113.00. The company has a market capitalization of $9.69 billion, a P/E ratio of 2.77, a P/E/G ratio of 1.75 and a beta of 1.47. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. The company has a fifty day moving average of $95.12 and a 200 day moving average of $95.99.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.05. The company had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The firm's quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter last year, the business posted $0.60 EPS. On average, analysts forecast that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.24%. Lam Research's 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.