Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Sanctuary Advisors LLC

Sanctuary Advisors LLC grew its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 838.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 159,913 shares of the semiconductor company's stock after buying an additional 142,878 shares during the period. Lam Research accounts for approximately 0.8% of Sanctuary Advisors LLC's holdings, making the stock its 18th biggest holding. Sanctuary Advisors LLC's holdings in Lam Research were worth $130,502,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Pine Valley Investments Ltd Liability Co raised its holdings in Lam Research by 48.3% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 11,464 shares of the semiconductor company's stock valued at $9,364,000 after buying an additional 3,732 shares during the period. Unigestion Holding SA raised its stake in shares of Lam Research by 1,137.5% in the 3rd quarter. Unigestion Holding SA now owns 12,858 shares of the semiconductor company's stock valued at $10,493,000 after acquiring an additional 11,819 shares during the period. Coldstream Capital Management Inc. lifted its holdings in shares of Lam Research by 27.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 9,622 shares of the semiconductor company's stock valued at $7,852,000 after acquiring an additional 2,074 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Lam Research by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company's stock valued at $2,539,413,000 after acquiring an additional 64,053 shares in the last quarter. Finally, Savoie Capital LLC increased its holdings in Lam Research by 12.2% in the 3rd quarter. Savoie Capital LLC now owns 8,280 shares of the semiconductor company's stock valued at $6,757,000 after purchasing an additional 900 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Stock Performance

LRCX traded down $2.65 during trading hours on Thursday, hitting $75.58. 8,616,364 shares of the stock were exchanged, compared to its average volume of 11,245,295. The stock has a market cap of $97.25 billion, a price-to-earnings ratio of 25.32, a price-to-earnings-growth ratio of 1.22 and a beta of 1.46. The stock has a 50-day simple moving average of $75.99 and a 200-day simple moving average of $85.64. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $4.06 billion. During the same period last year, the firm posted $6.85 EPS. The company's revenue for the quarter was up 19.7% on a year-over-year basis. Analysts anticipate that Lam Research Co. will post 3.5 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research's payout ratio is 29.77%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Citigroup reduced their price objective on Lam Research from $99.00 to $89.30 and set a "buy" rating on the stock in a research note on Monday, September 16th. Needham & Company LLC restated a "buy" rating and issued a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. Sanford C. Bernstein lowered their price objective on shares of Lam Research from $95.00 to $85.00 and set a "market perform" rating for the company in a research report on Friday, November 29th. Mizuho reduced their target price on shares of Lam Research from $105.00 to $95.00 and set an "outperform" rating on the stock in a research report on Friday, September 20th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $97.24.

Insider Buying and Selling

In other Lam Research news, CAO Christina Correia sold 647 shares of the company's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the transaction, the chief accounting officer now owns 4,267 shares in the company, valued at approximately $3,488,315.17. This represents a 13.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.29% of the company's stock.

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.