Eastern Bank Purchases 185 Shares of Lam Research Co. (NASDAQ:LRCX)

Eastern Bank raised its position in Lam Research Co. (NASDAQ:LRCX) by 54.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 522 shares of the semiconductor company’s stock after buying an additional 185 shares during the period. Eastern Bank’s holdings in Lam Research were worth $426,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dynamic Advisor Solutions LLC grew its position in Lam Research by 8.9% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 2,277 shares of the semiconductor company’s stock worth $2,212,000 after acquiring an additional 187 shares during the last quarter. Sound Income Strategies LLC grew its holdings in shares of Lam Research by 484.2% during the first quarter. Sound Income Strategies LLC now owns 111 shares of the semiconductor company’s stock worth $108,000 after purchasing an additional 92 shares during the last quarter. Kingswood Wealth Advisors LLC increased its stake in shares of Lam Research by 5.7% in the first quarter. Kingswood Wealth Advisors LLC now owns 756 shares of the semiconductor company’s stock valued at $735,000 after buying an additional 41 shares in the last quarter. Brookstone Capital Management raised its holdings in shares of Lam Research by 4.6% in the first quarter. Brookstone Capital Management now owns 660 shares of the semiconductor company’s stock valued at $641,000 after buying an additional 29 shares during the last quarter. Finally, Aspiriant LLC bought a new stake in Lam Research during the 1st quarter worth about $222,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Trading Down 0.2 %

NASDAQ:LRCX opened at $72.86 on Thursday. The business’s 50-day simple moving average is $79.60 and its 200-day simple moving average is $89.94. Lam Research Co. has a fifty-two week low of $57.44 and a fifty-two week high of $113.00. 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 market capitalization of $9.53 billion, a PE ratio of 2.68, a price-to-earnings-growth ratio of 1.75 and a beta of 1.47.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.05. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter in the prior year, the company earned $0.60 earnings per share. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. Sell-side analysts expect that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

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

Insider Transactions at Lam Research

In related 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 sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.32% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LRCX. TD Cowen upped their target price on shares of Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Mizuho decreased their price objective on Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Deutsche Bank Aktiengesellschaft dropped their target price on Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. B. Riley decreased their price target on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Wells Fargo & Company dropped their price objective on Lam Research from $1,000.00 to $880.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and an average target price of $139.82.

About Lam Research

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.