Brookstone Capital Management Purchases 2,670 Shares of Lam Research Co. (NASDAQ:LRCX)

Brookstone Capital Management increased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 166.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,271 shares of the semiconductor company’s stock after buying an additional 2,670 shares during the quarter. Brookstone Capital Management’s holdings in Lam Research were worth $3,485,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. CarsonAllaria Wealth Management Ltd. acquired a new position in Lam Research during the second quarter valued at approximately $32,000. RFP Financial Group LLC boosted its position in Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 12 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in Lam Research during the second quarter valued at approximately $40,000. Country Trust Bank acquired a new position in Lam Research during the second quarter valued at approximately $43,000. Finally, MFA Wealth Advisors LLC acquired a new position in Lam Research during the second quarter valued at approximately $45,000. 84.61% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the transaction, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at $3,488,315.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on LRCX. 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 research report on Thursday, September 12th. Mizuho cut their price objective on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Citigroup cut their price objective 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. Cantor Fitzgerald lowered their target price on Lam Research from $120.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, September 30th. Finally, Morgan Stanley lowered their target price on Lam Research from $92.90 to $77.40 and set an “equal weight” rating on the stock in a research note on Tuesday, September 17th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and an average price target of $141.28.

Lam Research Trading Down 1.0 %

NASDAQ LRCX opened at $82.06 on Friday. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. Lam Research Co. has a twelve month low of $57.44 and a twelve month high of $113.00. The company has a market cap of $10.73 billion, a price-to-earnings ratio of 3.02, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47. The business’s fifty day moving average is $94.85 and its 200 day moving average is $96.42.

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. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 EPS. As a group, sell-side analysts expect that Lam Research Co. will post 35.2 EPS 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 paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date was Tuesday, September 17th. Lam Research’s dividend payout ratio is 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.