Axiom Advisory LLC Purchases 168 Shares of Lam Research Co. (NASDAQ:LRCX)

Axiom Advisory LLC boosted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 17.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,152 shares of the semiconductor company’s stock after buying an additional 168 shares during the period. Axiom Advisory LLC’s holdings in Lam Research were worth $1,002,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Alpha Cubed Investments LLC grew its holdings in shares of Lam Research by 498.3% in the third quarter. Alpha Cubed Investments LLC now owns 2,842 shares of the semiconductor company’s stock valued at $2,319,000 after purchasing an additional 2,367 shares in the last quarter. Kesler Norman & Wride LLC bought a new position in Lam Research during the third quarter valued at $422,000. New England Research & Management Inc. grew its stake in shares of Lam Research by 270.0% in the 3rd quarter. New England Research & Management Inc. now owns 1,850 shares of the semiconductor company’s stock worth $1,510,000 after buying an additional 1,350 shares in the last quarter. Fulton Bank N.A. increased its holdings in shares of Lam Research by 37.1% in the 3rd quarter. Fulton Bank N.A. now owns 1,857 shares of the semiconductor company’s stock worth $1,515,000 after buying an additional 503 shares during the last quarter. Finally, McLean Asset Management Corp raised its position in shares of Lam Research by 891.8% during the 3rd quarter. McLean Asset Management Corp now owns 4,820 shares of the semiconductor company’s stock valued at $3,934,000 after buying an additional 4,334 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Trading Up 0.5 %

LRCX opened at $81.01 on Wednesday. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. The stock’s fifty day moving average is $95.12 and its two-hundred day moving average is $96.64. The company has a market capitalization of $10.59 billion, a P/E ratio of 2.98, a PEG ratio of 1.51 and a beta of 1.47. Lam Research Co. has a 52 week low of $57.44 and a 52 week high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.76 by $0.05. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same quarter last year, the firm posted $0.60 earnings per share. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. Analysts forecast that Lam Research Co. will post 35.2 earnings per share for the current year.

Lam Research Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were given a $0.23 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.92 annualized dividend and a dividend yield of 1.14%. Lam Research’s payout ratio is presently 3.38%.

Analysts Set New Price Targets

Several research analysts recently commented on LRCX shares. StockNews.com upgraded Lam Research from a “hold” rating to a “buy” rating in a research report on Thursday, October 3rd. TD Cowen lifted their target price on Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft decreased 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. B. Riley lifted their price objective on shares of Lam Research from $113.00 to $132.50 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Finally, Cantor Fitzgerald cut their price objective on shares of Lam Research from $120.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, September 30th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Lam Research has an average rating of “Moderate Buy” and an average target price of $141.28.

Insider Activity

In related news, SVP Neil J. Fernandes sold 16,200 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were 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 owns 52,370 shares of the company’s stock, valued at $5,535,456.63. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Lam Research 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 transaction, the chief accounting officer now owns 4,267 shares in the company, valued at $3,488,315.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Neil J. Fernandes sold 16,200 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $105.70, for a total transaction of $1,712,323.80. Following the sale, the senior vice president now directly owns 52,370 shares of the company’s stock, valued at approximately $5,535,456.63. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

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.