Independent Advisor Alliance Has $1.95 Million Holdings in Lam Research Co. (NASDAQ:LRCX)

Independent Advisor Alliance decreased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 9.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,391 shares of the semiconductor company’s stock after selling 244 shares during the quarter. Independent Advisor Alliance’s holdings in Lam Research were worth $1,951,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of Lam Research during the 3rd quarter worth approximately $220,000. Fisher Asset Management LLC raised its position in Lam Research by 0.6% during the third quarter. Fisher Asset Management LLC now owns 1,871,473 shares of the semiconductor company’s stock worth $1,527,273,000 after acquiring an additional 11,093 shares in the last quarter. SevenBridge Financial Group LLC lifted its stake in Lam Research by 906.4% in the third quarter. SevenBridge Financial Group LLC now owns 32,770 shares of the semiconductor company’s stock valued at $26,743,000 after acquiring an additional 29,514 shares during the last quarter. Larson Financial Group LLC grew its position in shares of Lam Research by 20,995.8% in the 3rd quarter. Larson Financial Group LLC now owns 5,063 shares of the semiconductor company’s stock valued at $4,131,000 after acquiring an additional 5,039 shares during the period. Finally, Algert Global LLC increased its stake in shares of Lam Research by 40.5% during the 3rd quarter. Algert Global LLC now owns 694 shares of the semiconductor company’s stock worth $566,000 after purchasing an additional 200 shares during the last quarter. 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 firm’s 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 sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This trade represents a 13.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.29% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently commented on LRCX. Morgan Stanley reduced their price target on Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Citigroup lowered their target price on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a report on Monday, September 16th. BNP Paribas upgraded Lam Research to a “hold” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft cut their price objective on Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Finally, TD Cowen raised their price target on shares of Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $97.97.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $72.69 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. Lam Research Co. has a fifty-two week low of $68.72 and a fifty-two week high of $113.00. The stock has a market cap of $93.53 billion, a PE ratio of 23.52, a price-to-earnings-growth ratio of 1.15 and a beta of 1.48. The stock has a fifty day moving average of $76.80 and a 200-day moving average of $87.04.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The firm had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same period in the prior year, the firm posted $6.85 earnings per share. Equities research analysts anticipate that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.27%. Lam Research’s payout ratio is currently 29.77%.

Lam Research 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.