Vontobel Holding Ltd. Grows Position in Lam Research Co. (NASDAQ:LRCX)

Vontobel Holding Ltd. increased its position in Lam Research Co. (NASDAQ:LRCX) by 38.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 120,736 shares of the semiconductor company’s stock after buying an additional 33,489 shares during the quarter. Vontobel Holding Ltd.’s holdings in Lam Research were worth $98,530,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Foster Victor Wealth Advisors LLC increased its stake in Lam Research by 994.1% in the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company’s stock worth $190,066,000 after buying an additional 211,614 shares in the last quarter. Swedbank AB bought a new position in Lam Research in the 1st quarter worth approximately $192,668,000. Van ECK Associates Corp grew its holdings in Lam Research by 24.6% during the 1st quarter. Van ECK Associates Corp now owns 968,115 shares of the semiconductor company’s stock valued at $940,592,000 after buying an additional 191,230 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Lam Research by 1.2% during the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after buying an additional 144,914 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings 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 buying an additional 142,903 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction 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 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 SEC, which is available at this hyperlink. 0.32% of the stock is owned by insiders.

Lam Research Trading Down 0.5 %

Lam Research stock traded down $0.36 during mid-day trading on Wednesday, hitting $76.00. The company’s stock had a trading volume of 4,433,078 shares, compared to its average volume of 10,989,336. 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 50 day moving average of $95.12 and a 200-day moving average of $95.99. Lam Research Co. has a one year low of $57.44 and a one year high of $113.00. The stock has a market cap of $9.94 billion, a PE ratio of 2.84, a P/E/G ratio of 1.75 and a beta of 1.47.

Lam Research (NASDAQ:LRCX) last posted its quarterly 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. 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 analysts’ expectations of $3.82 billion. During the same period in the prior year, the business posted $0.60 earnings per share. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, research analysts anticipate that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Cuts Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.21%. Lam Research’s payout ratio is 3.38%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LRCX. StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Wells Fargo & Company reduced their target price on Lam Research from $1,000.00 to $880.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. 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. Cantor Fitzgerald reduced their price objective 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, TD Cowen increased their target price on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $141.28.

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.