Vest Financial LLC Acquires 14,658 Shares of Lam Research Co. (NASDAQ:LRCX)

by · The Cerbat Gem

Vest Financial LLC increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX – Free Report) by 68.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,991 shares of the semiconductor company’s stock after buying an additional 14,658 shares during the period. Vest Financial LLC’s holdings in Lam Research were worth $29,372,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Symmetry Investments LP bought a new stake in Lam Research in the second quarter valued at approximately $3,229,000. Benson Investment Management Company Inc. bought a new stake in Lam Research in the third quarter valued at approximately $5,182,000. Brown Financial Advisors bought a new stake in Lam Research in the second quarter valued at approximately $1,489,000. Vontobel Holding Ltd. increased its stake in Lam Research by 38.4% in the third quarter. Vontobel Holding Ltd. now owns 120,736 shares of the semiconductor company’s stock valued at $98,530,000 after purchasing an additional 33,489 shares in the last quarter. Finally, Wedmont Private Capital increased its stake in Lam Research by 893.3% in the third quarter. Wedmont Private Capital now owns 14,522 shares of the semiconductor company’s stock valued at $11,851,000 after purchasing an additional 13,060 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Wells Fargo & Company lowered their price objective on shares of Lam Research from $1,000.00 to $880.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Citigroup lowered 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 report on Monday, September 16th. Finally, Needham & Company LLC reissued a “buy” rating and set a $113.00 price objective on shares of Lam Research in a research report on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $141.28.

Read Our Latest Analysis on Lam Research

Insider Activity

In other news, CAO Christina Correia sold 647 shares of the stock in a transaction dated Tuesday, October 1st. The shares were 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 $3,488,315.17. This 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 this link. Insiders own 0.32% of the company’s stock.

Lam Research Stock Performance

LRCX stock traded down $0.30 during trading hours on Friday, reaching $72.84. The stock had a trading volume of 18,493,382 shares, compared to its average volume of 11,155,063. The stock has a market capitalization of $9.52 billion, a PE ratio of 2.68, a price-to-earnings-growth ratio of 1.75 and a beta of 1.47. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. The stock has a 50-day simple moving average of $80.15 and a 200 day simple moving average of $90.48. Lam Research Co. has a fifty-two week low of $57.44 and a fifty-two week high of $113.00.

Lam Research (NASDAQ:LRCX – Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.05. The firm had revenue of $3.87 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 20.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.60 earnings per share. Analysts predict that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.26%. The ex-dividend date was Tuesday, September 17th. Lam Research’s payout ratio is presently 3.38%.

About Lam Research

(Free Report)

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.

See Also

Want to see what other hedge funds are holding LRCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lam Research Co. (NASDAQ:LRCX – Free Report).