Diversify Advisory Services LLC Invests $25.96 Million in Lam Research Co. (NASDAQ:LRCX)

Diversify Advisory Services LLC purchased a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 31,816 shares of the semiconductor company’s stock, valued at approximately $25,964,000. Lam Research comprises about 1.4% of Diversify Advisory Services LLC’s holdings, making the stock its 12th largest holding.

Several other large investors have also bought and sold shares of the business. Creative Planning grew its position in shares of Lam Research by 2.5% during the 3rd quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock worth $38,664,000 after buying an additional 1,146 shares during the period. Vest Financial LLC grew its holdings in Lam Research by 68.7% during the third quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock valued at $29,372,000 after purchasing an additional 14,658 shares during the period. Symmetry Investments LP bought a new stake in Lam Research in the second quarter valued at approximately $3,229,000. Benson Investment Management Company Inc. acquired a new stake in Lam Research in the third quarter worth $5,182,000. Finally, Vontobel Holding Ltd. grew its holdings in shares of Lam Research by 38.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 120,736 shares of the semiconductor company’s stock valued at $98,530,000 after buying an additional 33,489 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $75.70 on Tuesday. The firm has a 50 day simple moving average of $78.98 and a 200 day simple moving average of $89.51. The company has a market cap of $9.90 billion, a price-to-earnings ratio of 2.77, a PEG ratio of 1.89 and a beta of 1.47. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. Lam Research Co. has a one year low of $57.44 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. The firm had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 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 19.7% on a year-over-year basis. During the same period last year, the company earned $6.85 earnings per share. Research analysts predict that Lam Research Co. will post 3.23 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The business 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 of this dividend was Tuesday, September 17th. This represents a $0.92 dividend on an annualized basis and a yield of 1.22%. Lam Research’s payout ratio is 3.38%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LRCX. Morgan Stanley dropped their price target on Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. TD Cowen raised their price objective on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, August 1st. BNP Paribas upgraded Lam Research to a “hold” rating in a report on Thursday, October 24th. Finally, B. Riley reduced their price objective on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $97.03.

Insider Buying and Selling

In other news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 4,267 shares in the company, valued at $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is owned by corporate insiders.

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.