Lam Research Co. (NASDAQ:LRCX) Shares Bought by Dakota Wealth Management

Dakota Wealth Management raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 49.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,624 shares of the semiconductor company’s stock after acquiring an additional 536 shares during the quarter. Dakota Wealth Management’s holdings in Lam Research were worth $1,325,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Jackson Wealth Management LLC increased its stake in Lam Research by 65.1% in the third quarter. Jackson Wealth Management LLC now owns 9,974 shares of the semiconductor company’s stock valued at $8,140,000 after purchasing an additional 3,934 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Lam Research by 38.6% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 3,124 shares of the semiconductor company’s stock valued at $2,549,000 after buying an additional 870 shares in the last quarter. Greenleaf Trust grew its position in shares of Lam Research by 57.2% in the 3rd quarter. Greenleaf Trust now owns 5,334 shares of the semiconductor company’s stock valued at $4,353,000 after buying an additional 1,940 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in Lam Research by 37.1% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 780 shares of the semiconductor company’s stock worth $637,000 after acquiring an additional 211 shares in the last quarter. Finally, Lecap Asset Management Ltd. lifted its position in Lam Research by 97.8% in the third quarter. Lecap Asset Management Ltd. now owns 5,102 shares of the semiconductor company’s stock valued at $4,164,000 after acquiring an additional 2,522 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling

In other Lam Research news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction 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 represents 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 accessible through the SEC website. 0.29% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft cut their target price on Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Lam Research in a research report on Thursday. Morgan Stanley decreased their price objective on Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Finally, Mizuho decreased their price target on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $97.03.

Lam Research Price Performance

Lam Research stock opened at $77.68 on Friday. The company has a market cap of $100.68 billion, a P/E ratio of 26.79, a price-to-earnings-growth ratio of 1.89 and a beta of 1.47. Lam Research Co. has a one year low of $57.44 and a one year high of $113.00. The business has a fifty day moving average of $79.21 and a two-hundred day moving average of $89.76. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The firm had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. During the same quarter last year, the business earned $6.85 earnings per share. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. As a group, analysts predict that Lam Research Co. will post 3.23 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The company 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 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend was Tuesday, September 17th. Lam Research’s payout ratio is currently 31.72%.

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.