Paladin Wealth LLC Takes $492,000 Position in Lam Research Co. (NASDAQ:LRCX)

Paladin Wealth LLC bought a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 603 shares of the semiconductor company’s stock, valued at approximately $492,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Swedbank AB acquired a new position in shares of Lam Research in the first quarter valued at approximately $192,668,000. Van ECK Associates Corp boosted its stake in Lam Research by 24.6% in the 1st quarter. Van ECK Associates Corp now owns 968,115 shares of the semiconductor company’s stock valued at $940,592,000 after purchasing an additional 191,230 shares during the period. Vanguard Group Inc. grew its holdings in Lam Research by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after buying an additional 144,914 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Lam Research by 5.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock worth $2,875,023,000 after buying an additional 142,903 shares in the last quarter. Finally, Natixis lifted its holdings in shares of Lam Research by 1,267.1% during the first quarter. Natixis now owns 142,967 shares of the semiconductor company’s stock worth $138,902,000 after buying an additional 132,509 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.32% of the company’s stock.

Lam Research Stock Performance

NASDAQ LRCX opened at $83.60 on Monday. The firm’s fifty day moving average price is $94.96 and its two-hundred day moving average price is $96.22. The stock has a market cap of $10.93 billion, a PE ratio of 3.05, a PEG ratio of 1.75 and a beta of 1.47. 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 Co. has a fifty-two week low of $57.44 and a fifty-two week high of $113.00.

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, topping analysts’ consensus estimates of $0.76 by $0.05. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. Lam Research’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS. On average, equities analysts expect that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.92 annualized dividend and a yield of 1.10%. Lam Research’s dividend payout ratio is presently 3.38%.

Wall Street Analysts Forecast Growth

LRCX has been the topic of a number of recent research reports. B. Riley raised their price target on shares of Lam Research from $113.00 to $132.50 and gave the stock a “buy” rating in a research report on Thursday, June 20th. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday. Cantor Fitzgerald cut their price target on Lam Research from $120.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, September 30th. Morgan Stanley reduced their price target on Lam Research from $92.90 to $77.40 and set an “equal weight” rating on the stock in a research report on Tuesday, September 17th. 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 analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $141.28.

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.