Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Trust Co. of Toledo NA OH

Trust Co. of Toledo NA OH lifted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 2.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,074 shares of the semiconductor company’s stock after acquiring an additional 49 shares during the period. Trust Co. of Toledo NA OH’s holdings in Lam Research were worth $1,693,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. CarsonAllaria Wealth Management Ltd. acquired a new stake in Lam Research in the second quarter worth $32,000. RFP Financial Group LLC increased 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 period. Hobbs Group Advisors LLC acquired a new position in shares of Lam Research during the second quarter valued at $40,000. Country Trust Bank acquired a new position in shares of Lam Research during the second quarter valued at $43,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Lam Research during the second quarter valued at $45,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Lam Research

In related 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 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred on 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. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Neil J. Fernandes sold 16,200 shares of Lam Research stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $105.70, for a total value of $1,712,323.80. Following the completion of the transaction, the senior vice president now directly owns 52,370 shares in the company, valued at $5,535,456.63. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on LRCX. Raymond James raised their price target on Lam Research from $95.00 to $106.00 and gave the company an “outperform” rating in a report on Friday, June 7th. Deutsche Bank Aktiengesellschaft lowered their price target on Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. TD Cowen raised their price target on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Barclays raised their price target on Lam Research from $86.50 to $90.00 and gave the company an “equal weight” rating in a report on Wednesday, June 5th. Finally, B. Riley raised their target price on Lam Research from $113.00 to $132.50 and gave the company a “buy” rating in a research note on Thursday, June 20th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $100.23.

Lam Research Stock Up 2.1 %

LRCX opened at $814.09 on Thursday. Lam Research Co. has a fifty-two week low of $574.42 and a fifty-two week high of $1,130.00. The business has a 50-day moving average of $95.60 and a 200-day moving average of $96.91. 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 company has a market capitalization of $106.43 billion, a PE ratio of 29.94, a price-to-earnings-growth ratio of 1.51 and a beta of 1.48.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.05. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same period last year, the business earned $0.60 EPS. The firm’s revenue was up 20.7% compared to the same quarter last year. Equities research analysts forecast that Lam Research Co. will post 35.2 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. Investors of record on Tuesday, September 17th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date of this dividend was Tuesday, September 17th. Lam Research’s payout ratio is 33.84%.

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.