Lam Research Co. (NASDAQ:LRCX) Shares Bought by Blue Trust Inc.

Blue Trust Inc. increased its position in Lam Research Co. (NASDAQ:LRCX) by 95.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,898 shares of the semiconductor company’s stock after purchasing an additional 1,416 shares during the quarter. Blue Trust Inc.’s holdings in Lam Research were worth $2,365,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position 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 during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Lam Research by 5.1% in 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 acquiring an additional 142,903 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Lam Research by 7.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock valued at $1,335,522,000 after purchasing an additional 89,470 shares during the last quarter. Van ECK Associates Corp grew its stake in Lam Research by 11.1% during the 2nd quarter. Van ECK Associates Corp now owns 1,075,893 shares of the semiconductor company’s stock valued at $1,145,664,000 after purchasing an additional 107,778 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Lam Research by 4.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company’s stock worth $654,009,000 after purchasing an additional 25,362 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LRCX has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Wells Fargo & Company decreased their price objective on shares of 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. Needham & Company LLC restated a “buy” rating and issued a $113.00 target price on shares of Lam Research in a research note on Thursday, August 1st. UBS Group decreased their price target on Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Finally, Morgan Stanley cut their price objective on Lam Research from $92.90 to $77.40 and set an “equal weight” rating on the stock in a research note on Tuesday, September 17th. Six equities 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 has a consensus rating of “Moderate Buy” and an average price target of $141.28.

Lam Research Stock Performance

LRCX stock opened at $72.84 on Friday. Lam Research Co. has a 1 year low of $57.44 and a 1 year high of $113.00. The stock has a market capitalization of $9.52 billion, a price-to-earnings ratio of 2.68, 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. The stock’s fifty day moving average is $80.15 and its two-hundred day moving average is $90.48.

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, beating the consensus estimate of $0.76 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 $3.87 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same period last year, the firm posted $0.60 EPS. Lam Research’s quarterly revenue was up 20.7% compared to the same quarter last year. On average, research analysts predict that Lam Research Co. will post 3.52 EPS for the current 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 $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.26%. The ex-dividend date was Tuesday, September 17th. Lam Research’s dividend payout ratio is currently 3.38%.

Insider Buying and Selling at Lam Research

In other news, CAO Christina Correia sold 647 shares of the 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 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.32% of the stock is owned by company insiders.

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.