Lam Research Co. (NASDAQ:LRCX) Shares Bought by Vest Financial LLC

Vest Financial LLC boosted its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 68.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,991 shares of the semiconductor company's stock after acquiring an additional 14,658 shares during the period. Vest Financial LLC's holdings in Lam Research were worth $29,372,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the stock. Foster Victor Wealth Advisors LLC boosted 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 buying an additional 211,614 shares during the last quarter. Swedbank AB bought a new position in shares of Lam Research during the 1st quarter valued at approximately $192,668,000. Van ECK Associates Corp lifted its holdings in shares of Lam Research by 24.6% in the 1st quarter. Van ECK Associates Corp now owns 968,115 shares of the semiconductor company's stock valued at $940,592,000 after acquiring an additional 191,230 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Lam Research by 1.2% during the 1st 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 during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Lam Research by 5.1% during the first 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. Institutional investors own 84.61% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Mizuho decreased their price target on Lam Research from $105.00 to $95.00 and set an "outperform" rating for the company in a research note on Friday, September 20th. Needham & Company LLC restated a "buy" rating and set a $113.00 target price on shares of Lam Research in a report on Thursday, August 1st. Morgan Stanley cut their price objective on shares of Lam Research from $92.90 to $77.40 and set an "equal weight" rating on the stock in a research report on Tuesday, September 17th. Citigroup decreased their price target on Lam Research from $99.00 to $89.30 and set a "buy" rating for the company in a research note on Monday, September 16th. Finally, StockNews.com lowered shares of Lam Research from a "buy" rating to a "hold" rating in a report on Friday, October 11th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Lam Research has a consensus rating of "Moderate Buy" and an average target price of $141.28.

Lam Research Price Performance

Shares of NASDAQ LRCX traded down $0.30 during trading on Friday, hitting $72.84. The company had a trading volume of 18,493,382 shares, compared to its average volume of 11,155,063. The stock has a fifty day simple moving average of $80.15 and a two-hundred day simple moving average of $90.44. Lam Research Co. has a fifty-two week low of $57.44 and a fifty-two week high of $113.00. The firm has a market capitalization of $9.52 billion, a price-to-earnings ratio of 2.68, a price-to-earnings-growth ratio of 1.75 and a beta of 1.47. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.76 by $0.05. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. Lam Research's quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 earnings per share. On average, research analysts expect that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Cuts Dividend

The firm also recently announced 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 annualized dividend and a yield of 1.26%. Lam Research's dividend payout ratio (DPR) is 3.38%.

Insiders Place Their Bets

In related news, CAO Christina Correia sold 647 shares of the business's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the sale, the chief accounting officer now owns 4,267 shares in the company, valued at approximately $3,488,315.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.32% of the stock is currently owned by insiders.

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.