Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Foster Victor Wealth Advisors LLC

Foster Victor Wealth Advisors LLC increased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 994.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 232,901 shares of the semiconductor company’s stock after purchasing an additional 211,614 shares during the quarter. Lam Research makes up approximately 13.4% of Foster Victor Wealth Advisors LLC’s holdings, making the stock its biggest holding. Foster Victor Wealth Advisors LLC owned approximately 0.18% of Lam Research worth $190,066,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Lam Research by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock worth $11,519,576,000 after acquiring an additional 144,914 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Lam Research by 5.1% during the 1st 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 last quarter. Massachusetts Financial Services Co. MA grew its holdings 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 acquiring an additional 89,470 shares during the last quarter. Van ECK Associates Corp grew its holdings in Lam Research by 11.1% during the 2nd quarter. Van ECK Associates Corp now owns 1,075,893 shares of the semiconductor company’s stock worth $1,145,664,000 after acquiring an additional 107,778 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Lam Research by 4.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company’s stock worth $654,009,000 after acquiring an additional 25,362 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Ratings Changes

LRCX has been the topic of a number of research analyst reports. Morgan Stanley decreased 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 report on Tuesday, September 17th. Wells Fargo & Company reduced their target price on shares of Lam Research from $1,000.00 to $880.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. B. Riley raised their target price on shares of Lam Research from $113.00 to $132.50 and gave the company a “buy” rating in a research note on Thursday, June 20th. Finally, TD Cowen raised their target price on shares of Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Six 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, Lam Research has a consensus rating of “Moderate Buy” and an average target price of $141.28.

Insider Activity

In other news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the sale, the chief accounting officer now directly owns 4,267 shares in the company, valued at $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is owned by corporate insiders.

Lam Research Stock Performance

Shares of LRCX stock opened at $76.36 on Wednesday. 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 has a market capitalization of $9.98 billion, a P/E ratio of 2.81, a price-to-earnings-growth ratio of 1.75 and a beta of 1.47. The company’s 50 day moving average price is $95.12 and its two-hundred day moving average price is $95.99. Lam Research Co. has a 52 week low of $57.44 and a 52 week high of $113.00.

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

Lam Research Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders 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 dividend yield of 1.20%. Lam Research’s dividend payout ratio (DPR) is presently 3.38%.

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.