Lam Research Co. (NASDAQ:LRCX) Stock Position Raised by SevenBridge Financial Group LLC

SevenBridge Financial Group LLC raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 906.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,770 shares of the semiconductor company’s stock after acquiring an additional 29,514 shares during the quarter. Lam Research makes up 4.7% of SevenBridge Financial Group LLC’s investment portfolio, making the stock its 3rd largest position. SevenBridge Financial Group LLC’s holdings in Lam Research were worth $26,743,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LRCX. CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Lam Research during the second quarter valued at $32,000. RFP Financial Group LLC grew its holdings in shares of Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after buying an additional 12 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Lam Research in the second quarter valued at approximately $40,000. Country Trust Bank purchased a new position in shares of Lam Research during the second quarter valued at approximately $43,000. Finally, MFA Wealth Advisors LLC acquired a new stake in Lam Research during the second quarter worth approximately $45,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Activity

In other Lam Research news, CAO Christina Correia sold 647 shares of the firm’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. This trade represents a 13.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.29% of the company’s stock.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $72.64 on Friday. 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 1-year low of $68.72 and a 1-year high of $113.00. The company has a market capitalization of $93.47 billion, a price-to-earnings ratio of 23.48, a PEG ratio of 1.16 and a beta of 1.48. The business has a 50-day moving average of $76.93 and a 200-day moving average of $87.32.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter last year, the company earned $6.85 earnings per share. Lam Research’s revenue for the quarter was up 19.7% on a year-over-year basis. On average, equities analysts anticipate that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be given a $0.23 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.27%. Lam Research’s payout ratio is currently 29.74%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Morgan Stanley cut their price target on Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Citigroup reduced their target price on Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research report on Monday, September 16th. TD Cowen lifted their price target on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Mizuho cut their price objective on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Finally, B. Riley lowered their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.97.

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.