Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Sitrin Capital Management LLC

Sitrin Capital Management LLC boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 7.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,997 shares of the semiconductor company’s stock after buying an additional 546 shares during the quarter. Lam Research accounts for about 3.3% of Sitrin Capital Management LLC’s holdings, making the stock its 15th biggest holding. Sitrin Capital Management LLC’s holdings in Lam Research were worth $6,528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the stock. CarsonAllaria Wealth Management Ltd. acquired a new position in Lam Research in the 2nd quarter valued at about $32,000. RFP Financial Group LLC grew its holdings in shares of Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 12 shares in the last quarter. Hobbs Group Advisors LLC purchased a new stake in Lam Research during the 2nd quarter worth approximately $40,000. Country Trust Bank acquired a new stake in Lam Research during the 2nd quarter worth approximately $43,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Lam Research in the second quarter worth $45,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Activity at Lam Research

In other news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the transaction, the chief accounting officer now directly 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 0.29% of the stock is currently owned by insiders.

Analyst Ratings Changes

LRCX has been the topic of several analyst reports. StockNews.com cut Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. 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 research note on Wednesday, October 23rd. Stifel Nicolaus restated a “buy” rating and set a $100.00 target price (down from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Cantor Fitzgerald reiterated a “neutral” rating and set a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.03.

Lam Research Stock Performance

Lam Research stock traded up $0.36 during midday trading on Friday, hitting $74.71. 1,610,095 shares of the company’s stock were exchanged, compared to its average volume of 11,253,871. The firm’s 50 day simple moving average is $78.33 and its 200 day simple moving average is $89.13. Lam Research Co. has a 12-month low of $61.82 and a 12-month high of $113.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The stock has a market cap of $96.13 billion, a price-to-earnings ratio of 24.09, a price-to-earnings-growth ratio of 1.22 and a beta of 1.47.

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

Lam Research Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Tuesday, September 17th. Lam Research’s dividend payout ratio is presently 29.74%.

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.