HM Payson & Co. Buys 7,339 Shares of Lam Research Co. (NASDAQ:LRCX)

HM Payson & Co. grew its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 7.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 110,728 shares of the semiconductor company's stock after acquiring an additional 7,339 shares during the quarter. Lam Research accounts for 1.5% of HM Payson & Co.'s holdings, making the stock its 17th biggest position. HM Payson & Co. owned 0.08% of Lam Research worth $90,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Tilson Financial Group Inc. acquired a new position in shares of Lam Research in the 3rd quarter valued at approximately $233,000. Financial Advocates Investment Management boosted its position in Lam Research by 27.0% during the 3rd quarter. Financial Advocates Investment Management now owns 945 shares of the semiconductor company's stock worth $772,000 after acquiring an additional 201 shares during the last quarter. Diversify Wealth Management LLC acquired a new position in Lam Research during the 3rd quarter worth approximately $10,767,000. Pinnacle Associates Ltd. boosted its position in Lam Research by 12.3% during the 3rd quarter. Pinnacle Associates Ltd. now owns 77,943 shares of the semiconductor company's stock worth $61,049,000 after acquiring an additional 8,548 shares during the last quarter. Finally, Mutual Advisors LLC boosted its position in Lam Research by 307.2% during the 3rd quarter. Mutual Advisors LLC now owns 8,343 shares of the semiconductor company's stock worth $6,809,000 after acquiring an additional 6,294 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LRCX has been the subject of a number of recent research reports. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $100.00 price target on shares of Lam Research in a research report on Thursday, October 24th. Citigroup reduced their price target on Lam Research from $99.00 to $89.30 and set a "buy" rating for the company in a research report on Monday, September 16th. Mizuho cut their price objective on Lam Research from $105.00 to $95.00 and set an "outperform" rating for the company in a report on Friday, September 20th. UBS Group cut their price objective on Lam Research from $125.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, September 12th. Finally, B. Riley cut their price objective on Lam Research from $132.50 to $105.00 and set a "buy" rating for the company in a report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $97.03.

Lam Research Price Performance

NASDAQ:LRCX traded down $1.10 during trading hours on Thursday, hitting $75.35. The company's stock had a trading volume of 579,717 shares, compared to its average volume of 11,240,500. The stock has a fifty day simple moving average of $78.59 and a 200-day simple moving average of $89.23. The company has a market capitalization of $9.85 billion, a P/E ratio of 2.81, a PEG ratio of 1.89 and a beta of 1.47. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. Lam Research Co. has a twelve month low of $57.44 and a twelve month high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.05. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same period last year, the firm posted $6.85 earnings per share. The business's revenue for the quarter was up 19.7% on a year-over-year basis. On average, analysts anticipate that Lam Research Co. will post 3.23 EPS for the current fiscal 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 issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.92 dividend on an annualized basis and a yield of 1.22%. Lam Research's payout ratio is currently 3.38%.

Insiders Place Their Bets

In other news, CAO Christina Correia sold 647 shares of the business's 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 completion of the sale, the chief accounting officer now owns 4,267 shares in the company, valued at $3,488,315.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.32% of the stock is currently owned by corporate 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.

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