Wedge Capital Management L L P NC Purchases 8,302 Shares of Lam Research Co. (NASDAQ:LRCX)

Wedge Capital Management L L P NC lifted its holdings in Lam Research Co. (NASDAQ:LRCX) by 12.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 73,408 shares of the semiconductor company’s stock after purchasing an additional 8,302 shares during the period. Lam Research comprises approximately 1.0% of Wedge Capital Management L L P NC’s holdings, making the stock its 16th biggest position. Wedge Capital Management L L P NC’s holdings in Lam Research were worth $59,907,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Lam Research by 1.2% in the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock worth $11,519,576,000 after buying an additional 144,914 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Lam Research by 5.1% in the first 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 purchasing an additional 142,903 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Lam Research by 7.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock worth $1,335,522,000 after purchasing an additional 89,470 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of 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 valued at $1,145,664,000 after buying an additional 107,778 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Lam Research by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company’s stock worth $654,009,000 after buying an additional 25,362 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on LRCX shares. Morgan Stanley decreased their price target on Lam Research from $92.90 to $77.40 and set an “equal weight” rating on the stock in a report on Tuesday, September 17th. StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a research note on Friday. Citigroup dropped their price target on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research note on Monday, September 16th. UBS Group reduced their price objective on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Finally, B. Riley upped their target price on shares of Lam Research from $113.00 to $132.50 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $141.28.

Lam Research Trading Up 2.8 %

Shares of NASDAQ LRCX traded up $2.30 during trading hours on Monday, hitting $85.19. 3,095,028 shares of the company traded hands, compared to its average volume of 10,923,045. The company’s 50 day moving average price is $94.96 and its 200 day moving average price is $96.22. Lam Research Co. has a 12 month low of $57.44 and a 12 month high of $113.00. The stock has a market capitalization of $11.14 billion, a price-to-earnings ratio of 3.15, a price-to-earnings-growth ratio of 1.75 and a beta of 1.47. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52.

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

Lam Research Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were issued a $0.23 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.92 annualized dividend and a dividend yield of 1.08%. Lam Research’s payout ratio is currently 3.38%.

Insiders Place Their Bets

In other 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 of the company’s stock, valued at approximately $3,488,315.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.32% of the stock is owned by company insiders.

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.