Peak Financial Advisors LLC Increases Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Peak Financial Advisors LLC increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 20.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,587 shares of the semiconductor company’s stock after buying an additional 613 shares during the quarter. Peak Financial Advisors LLC’s holdings in Lam Research were worth $2,927,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Symmetry Investments LP purchased a new stake in Lam Research in the second quarter valued at approximately $3,229,000. Brown Financial Advisors purchased a new stake in shares of Lam Research during the 2nd quarter valued at $1,489,000. Wedmont Private Capital increased its holdings in shares of Lam Research by 893.3% during the 3rd quarter. Wedmont Private Capital now owns 14,522 shares of the semiconductor company’s stock worth $11,851,000 after buying an additional 13,060 shares during the last quarter. 3Chopt Investment Partners LLC acquired a new position in Lam Research in the second quarter valued at $1,105,000. Finally, Cypress Capital Group grew its position in Lam Research by 23.1% during the second quarter. Cypress Capital Group now owns 3,528 shares of the semiconductor company’s stock valued at $3,757,000 after acquiring an additional 661 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling

In related news, CAO Christina Correia sold 647 shares of the company’s 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 completion of the sale, the chief accounting officer now owns 4,267 shares in the company, valued at approximately $3,488,315.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is currently owned by company insiders.

Lam Research Stock Up 1.0 %

LRCX stock opened at $82.89 on Friday. The firm’s 50-day moving average is $94.96 and its two-hundred day moving average is $96.23. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $10.84 billion, a price-to-earnings ratio of 3.05, a price-to-earnings-growth ratio of 1.75 and a beta of 1.47. Lam Research Co. has a 52 week low of $57.44 and a 52 week high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share (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 analyst estimates of $3.82 billion. During the same quarter in the previous year, the business posted $0.60 earnings per share. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. On average, analysts forecast that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were given 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 1.11%. Lam Research’s dividend payout ratio (DPR) is 3.38%.

Wall Street Analyst Weigh In

LRCX has been the topic of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $113.00 price objective on shares of Lam Research in a research note on Thursday, August 1st. Wells Fargo & Company lowered their target price on Lam Research from $1,000.00 to $880.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Citigroup reduced their target price on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research report on Monday, September 16th. Finally, Morgan Stanley cut 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. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.28.

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.