Assetmark Inc. Acquires 1,879 Shares of Lam Research Co. (NASDAQ:LRCX)

Assetmark Inc. lifted its stake in Lam Research Co. (NASDAQ:LRCX) by 6.4% during the third quarter, HoldingsChannel.com reports. The firm owned 31,432 shares of the semiconductor company’s stock after purchasing an additional 1,879 shares during the quarter. Assetmark Inc.’s holdings in Lam Research were worth $25,651,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in LRCX. Fortitude Family Office LLC lifted its stake in shares of Lam Research by 16.7% in the second quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock worth $67,000 after buying an additional 9 shares in the last quarter. Thomasville National Bank increased its holdings in Lam Research by 1.5% in the 2nd quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock worth $865,000 after buying an additional 12 shares in the last quarter. Ignite Planners LLC raised its position in Lam Research by 2.8% in the 2nd quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock worth $484,000 after buying an additional 12 shares during the last quarter. U.S. Capital Wealth Advisors LLC lifted its stake in Lam Research by 3.7% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock valued at $357,000 after acquiring an additional 12 shares during the period. Finally, RFP Financial Group LLC boosted its holdings in shares of Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. B. Riley lowered their price objective on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. Citigroup decreased their price target on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research note on Monday, September 16th. Finally, UBS Group reduced their target price on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $97.03.

Insider Activity

In other Lam Research news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction on 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 owns 4,267 shares in the company, valued at approximately $3,488,315.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.29% of the company’s stock.

Lam Research Stock Down 1.3 %

LRCX stock opened at $78.20 on Friday. The firm’s fifty day moving average is $77.67 and its 200 day moving average is $88.52. The firm has a market cap of $100.62 billion, a PE ratio of 25.27, a P/E/G ratio of 1.22 and a beta of 1.48. Lam Research Co. has a one year low of $64.85 and a one year high of $113.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The company had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same period last year, the company earned $6.85 earnings per share. Lam Research’s quarterly revenue was up 19.7% compared to the same quarter last year. On average, research analysts forecast that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 annualized dividend and a yield of 1.18%. Lam Research’s dividend payout ratio (DPR) is currently 29.74%.

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.