Wilmington Savings Fund Society FSB Purchases 3,607 Shares of Lam Research Co. (NASDAQ:LRCX)

Wilmington Savings Fund Society FSB lifted its position in Lam Research Co. (NASDAQ:LRCX) by 383.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,547 shares of the semiconductor company’s stock after acquiring an additional 3,607 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Lam Research were worth $3,711,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. CarsonAllaria Wealth Management Ltd. purchased a new position in Lam Research during the 2nd quarter valued at about $32,000. RFP Financial Group LLC lifted its holdings 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 in the 2nd quarter worth approximately $40,000. MFA Wealth Advisors LLC purchased a new stake in shares of Lam Research in the 2nd quarter worth approximately $45,000. Finally, ORG Partners LLC purchased a new stake in shares of Lam Research in the 2nd quarter worth approximately $65,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Activity at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 4,267 shares in the company, valued at $3,488,315.17. This trade represents a 13.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.29% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on LRCX shares. StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Wells Fargo & Company cut their price objective on shares of Lam Research from $85.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Friday, December 6th. Citigroup reduced their price objective on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research note on Monday, September 16th. Sanford C. Bernstein dropped their target price on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating on the stock in a research note on Friday, November 29th. Finally, Mizuho reduced their price target on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and a consensus price target of $97.24.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $75.58 on Friday. The firm’s 50 day simple moving average is $75.88 and its two-hundred day simple moving average is $85.57. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The company has a market capitalization of $97.25 billion, a P/E ratio of 24.43, a P/E/G ratio of 1.25 and a beta of 1.46. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.05. The company had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. Lam Research’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.85 EPS. Research analysts expect that Lam Research Co. will post 3.5 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Wednesday, December 11th. Lam Research’s payout ratio 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.