Fidelis Capital Partners LLC Boosts Stock Position in Lam Research Co. (NASDAQ:LRCX)

Fidelis Capital Partners LLC boosted its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 487.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,137 shares of the semiconductor company's stock after acquiring an additional 11,731 shares during the period. Lam Research accounts for about 1.4% of Fidelis Capital Partners LLC's portfolio, making the stock its 16th largest holding. Fidelis Capital Partners LLC's holdings in Lam Research were worth $11,537,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Lam Research by 1.2% during the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company's stock worth $11,519,576,000 after purchasing an additional 144,914 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of 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 worth $2,875,023,000 after acquiring an additional 142,903 shares during the period. Massachusetts Financial Services Co. MA grew its stake in 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 in the last quarter. Van ECK Associates Corp raised its position in Lam Research by 11.1% in the 2nd quarter. Van ECK Associates Corp now owns 1,075,893 shares of the semiconductor company's stock valued at $1,145,664,000 after purchasing an additional 107,778 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Lam Research by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company's stock worth $654,009,000 after buying an additional 25,362 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Lam Research 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 transaction of $528,928.97. Following the sale, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.32% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Morgan Stanley dropped their price objective on shares of Lam Research from $81.00 to $77.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 23rd. Stifel Nicolaus reaffirmed a "buy" rating and set a $100.00 price objective (down from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Mizuho cut their target price on Lam Research from $105.00 to $95.00 and set an "outperform" rating on the stock in a research report on Friday, September 20th. Needham & Company LLC restated a "buy" rating and set a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. Finally, StockNews.com lowered shares of Lam Research from a "buy" rating to a "hold" rating in a research note on Friday, October 11th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $97.03.

Lam Research Stock Performance

LRCX traded up $2.86 during trading on Tuesday, reaching $78.31. The company's stock had a trading volume of 12,531,447 shares, compared to its average volume of 11,292,204. 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's fifty day moving average price is $78.98 and its 200-day moving average price is $89.51. Lam Research Co. has a 52-week low of $57.44 and a 52-week high of $113.00. The company has a market capitalization of $10.24 billion, a price-to-earnings ratio of 2.87, a price-to-earnings-growth ratio of 1.89 and a beta of 1.47.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same period in the previous year, the firm earned $6.85 EPS. The business's revenue was up 19.7% on a year-over-year basis. On average, equities analysts forecast that Lam Research Co. will post 3.23 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.17%. The ex-dividend date was Tuesday, September 17th. Lam Research's dividend payout ratio (DPR) is 3.38%.

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.