2,015 Shares in Lam Research Co. (NASDAQ:LRCX) Bought by Greater Midwest Financial Group LLC

Greater Midwest Financial Group LLC bought a new position in Lam Research Co. (NASDAQ:LRCX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,015 shares of the semiconductor company’s stock, valued at approximately $1,644,000. Lam Research comprises about 1.0% of Greater Midwest Financial Group LLC’s investment portfolio, making the stock its 24th largest position.

Other hedge funds have also bought and sold shares of the company. Scarborough Advisors LLC bought a new stake in shares of Lam Research in the 4th quarter worth approximately $45,000. Wellington Management Group LLP boosted its holdings in shares of Lam Research by 98.5% during the fourth quarter. Wellington Management Group LLP now owns 39,781 shares of the semiconductor company’s stock valued at $31,159,000 after acquiring an additional 19,742 shares during the period. Nomura Holdings Inc. bought a new position in shares of Lam Research during the fourth quarter worth about $2,077,000. CWM LLC increased its holdings in shares of Lam Research by 2.4% in the 1st quarter. CWM LLC now owns 4,122 shares of the semiconductor company’s stock worth $4,005,000 after acquiring an additional 95 shares during the period. Finally, Collective Family Office LLC lifted its position in Lam Research by 5.2% in the 1st quarter. Collective Family Office LLC now owns 284 shares of the semiconductor company’s stock valued at $276,000 after purchasing an additional 14 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LRCX has been the topic of a number of recent analyst reports. Citigroup cut their price target on Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a report on Monday, September 16th. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Morgan Stanley lowered their price target on Lam Research from $92.90 to $77.40 and set an “equal weight” rating on the stock in a report on Tuesday, September 17th. B. Riley upped their price objective on shares of Lam Research from $113.00 to $132.50 and gave the stock a “buy” rating in a report on Thursday, June 20th. Finally, Cantor Fitzgerald lowered their target price on shares of Lam Research from $120.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, September 30th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $141.28.

Insider Transactions at Lam Research

In related news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is currently owned by corporate insiders.

Lam Research Price Performance

Shares of Lam Research stock traded up $0.29 during trading on Thursday, reaching $74.43. The company’s stock had a trading volume of 1,988,633 shares, compared to its average volume of 11,024,338. Lam Research Co. has a one year low of $57.44 and a one year high of $113.00. The stock has a 50-day moving average price of $95.11 and a two-hundred day moving average price of $95.84. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $9.73 billion, a P/E ratio of 2.73, a price-to-earnings-growth ratio of 1.75 and a beta of 1.47.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.05. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company’s revenue was up 20.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 earnings per share. As a group, sell-side analysts anticipate that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were paid a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.92 annualized dividend and a dividend yield of 1.24%. Lam Research’s dividend payout ratio (DPR) is currently 3.38%.

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.