Bedell Frazier Investment Counselling LLC Buys 143 Shares of Lam Research Co. (NASDAQ:LRCX)

Bedell Frazier Investment Counselling LLC increased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 10.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,559 shares of the semiconductor company’s stock after purchasing an additional 143 shares during the quarter. Bedell Frazier Investment Counselling LLC’s holdings in Lam Research were worth $1,272,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Fortitude Family Office LLC boosted its holdings in Lam Research by 16.7% during the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock valued at $67,000 after acquiring an additional 9 shares during the period. Thomasville National Bank boosted its holdings in Lam Research by 1.5% during the 2nd quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock valued at $865,000 after acquiring an additional 12 shares during the period. Ignite Planners LLC boosted its holdings in Lam Research by 2.8% during the 2nd quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock valued at $484,000 after acquiring an additional 12 shares during the period. U.S. Capital Wealth Advisors LLC boosted its holdings 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 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 period. Institutional investors own 84.61% of the company’s stock.

Lam Research Trading Down 0.7 %

Shares of NASDAQ:LRCX opened at $72.64 on Monday. The business’s 50-day moving average is $76.93 and its 200 day moving average is $87.29. Lam Research Co. has a 1 year low of $68.72 and a 1 year high of $113.00. The firm has a market capitalization of $93.47 billion, a P/E ratio of 23.48, a P/E/G ratio of 1.15 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (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 in the prior year, the company posted $6.85 EPS. The firm’s quarterly revenue was up 19.7% compared to the same quarter last year. On average, research analysts predict that Lam Research Co. will post 3.52 earnings per share 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 dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.27%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio is currently 29.74%.

Analysts Set New Price Targets

LRCX has been the subject of a number of recent analyst reports. TD Cowen boosted 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. Wells Fargo & Company lowered their target price on Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. Finally, Morgan Stanley lowered their target price on Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Lam Research has an average rating of “Moderate Buy” and an average target price of $97.97.

Insider Activity at Lam Research

In other news, CAO Christina Correia sold 647 shares of the 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 transaction, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This represents a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is currently 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.