Main Management ETF Advisors LLC Takes Position in Lam Research Co. (NASDAQ:LRCX)

Main Management ETF Advisors LLC purchased a new stake in shares of Lam Research Co. (NASDAQ:LRCX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 776 shares of the semiconductor company’s stock, valued at approximately $633,000.

Other hedge funds have also modified their holdings of the company. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Lam Research during the second quarter valued at approximately $32,000. RFP Financial Group LLC grew its stake in shares of Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 12 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of Lam Research during the second quarter valued at approximately $40,000. MFA Wealth Advisors LLC bought a new stake in shares of Lam Research during the second quarter valued at approximately $45,000. Finally, ORG Partners LLC bought a new stake in shares of Lam Research during the second quarter valued at approximately $65,000. 84.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

LRCX has been the topic of a number of recent research reports. Mizuho reduced their price objective on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Citigroup reduced their price objective 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. Morgan Stanley raised their price objective on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. Finally, StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $97.24.

Insider Activity at Lam Research

In related news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This trade represents a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is owned by insiders.

Lam Research Trading Up 1.8 %

Shares of NASDAQ:LRCX opened at $76.59 on Friday. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The company’s fifty day simple moving average is $76.26 and its 200 day simple moving average is $86.12. The firm has a market cap of $98.55 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 1.24 and a beta of 1.46.

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

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is currently 29.74%.

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.