Cerity Partners LLC Buys 577 Shares of Lam Research Co. (NASDAQ:LRCX)

Cerity Partners LLC raised its stake in Lam Research Co. (NASDAQ:LRCX) by 1.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,551 shares of the semiconductor company’s stock after acquiring an additional 577 shares during the quarter. Cerity Partners LLC’s holdings in Lam Research were worth $30,645,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of LRCX. Gabelli Funds LLC bought a new stake in Lam Research in the 1st quarter valued at $276,000. Dynasty Wealth Management LLC bought a new stake in shares of Lam Research in the first quarter valued at about $740,000. California State Teachers Retirement System grew its stake in shares of Lam Research by 0.7% in the first quarter. California State Teachers Retirement System now owns 216,333 shares of the semiconductor company’s stock valued at $210,183,000 after acquiring an additional 1,538 shares in the last quarter. Motley Fool Asset Management LLC increased its position in Lam Research by 11.1% during the first quarter. Motley Fool Asset Management LLC now owns 4,361 shares of the semiconductor company’s stock worth $4,237,000 after acquiring an additional 436 shares during the period. Finally, Tidal Investments LLC raised its stake in Lam Research by 13.7% in the 1st quarter. Tidal Investments LLC now owns 6,205 shares of the semiconductor company’s stock worth $6,026,000 after purchasing an additional 748 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wells Fargo & Company decreased their target price on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Mizuho reduced their price target 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. Citigroup dropped their price objective on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a report on Monday, September 16th. Stifel Nicolaus reiterated a “buy” rating and set a $100.00 target price (down from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $100.00 price target on shares of Lam Research in a research report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $97.97.

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 shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the sale, the chief accounting officer now directly owns 4,267 shares in the company, valued at $3,488,315.17. This trade represents a 13.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.29% of the company’s stock.

Lam Research Trading Down 0.7 %

Shares of Lam Research stock opened at $72.64 on Monday. The firm’s 50 day moving average is $76.93 and its 200 day moving average is $87.29. The firm has a market capitalization of $93.47 billion, a PE ratio of 23.48, a price-to-earnings-growth ratio of 1.16 and a beta of 1.48. Lam Research Co. has a 1 year low of $68.72 and a 1 year high of $113.00. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53.

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 the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The company had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same period in the prior year, the business earned $6.85 earnings per share. The company’s revenue for the quarter was up 19.7% compared to the same quarter last year. Equities research analysts forecast that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

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 paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Wednesday, December 11th. Lam Research’s payout ratio is 29.74%.

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.