Roman Butler Fullerton & Co. Boosts Holdings in Lam Research Co. (NASDAQ:LRCX)

Roman Butler Fullerton & Co. lifted its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 1,252.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,384 shares of the semiconductor company's stock after purchasing an additional 8,690 shares during the period. Lam Research accounts for 2.2% of Roman Butler Fullerton & Co.'s portfolio, making the stock its 8th largest position. Roman Butler Fullerton & Co.'s holdings in Lam Research were worth $7,658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of LRCX. Van ECK Associates Corp raised its stake in shares of Lam Research by 1,394.7% during the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company's stock worth $13,123,440,000 after buying an additional 15,005,178 shares during the last quarter. Foster Victor Wealth Advisors LLC raised its position in shares of Lam Research by 994.1% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company's stock valued at $190,066,000 after acquiring an additional 211,614 shares during the last quarter. Swedbank AB acquired a new position in shares of Lam Research in the 1st quarter valued at $192,668,000. Vanguard Group Inc. grew its stake 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 during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Lam Research by 5.1% in 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 purchasing an additional 142,903 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Insiders Place Their Bets

In other news, CAO Christina Correia sold 647 shares of the firm's stock in a transaction dated Tuesday, October 1st. The shares were 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 approximately $3,488,315.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.29% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Stifel Nicolaus restated a "buy" rating and set a $100.00 target price (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Morgan Stanley decreased their price objective on shares of Lam Research from $81.00 to $77.00 and set an "equal weight" rating for the company in a report on Wednesday, October 23rd. UBS Group reduced their price target on shares of Lam Research from $125.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, September 12th. BNP Paribas raised Lam Research to a "hold" rating in a research note on Thursday, October 24th. Finally, Wells Fargo & Company decreased their target price on Lam Research from $88.00 to $85.00 and set an "equal weight" rating for the company in a research note on Thursday, October 24th. Seven 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, Lam Research has a consensus rating of "Moderate Buy" and an average target price of $97.03.

Lam Research Stock Performance

NASDAQ LRCX traded down $0.63 on Monday, hitting $74.17. 7,758,299 shares of the stock were exchanged, compared to its average volume of 11,278,340. The company has a market capitalization of $96.97 billion, a PE ratio of 24.00, a P/E/G ratio of 1.18 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The business's fifty day moving average is $78.15 and its 200 day moving average is $88.94. Lam Research Co. has a 52 week low of $62.81 and a 52 week high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The company had revenue of $4.17 billion for the quarter, compared to analysts' expectations of $4.06 billion. During the same period in the prior year, the firm earned $6.85 EPS. Lam Research's quarterly revenue was up 19.7% compared to the same quarter last year. Research analysts anticipate that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend was Tuesday, September 17th. Lam Research's dividend payout ratio is 29.77%.

About Lam Research

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.