CWA Asset Management Group LLC Takes $2.36 Million Position in Lam Research Co. (NASDAQ:LRCX)

CWA Asset Management Group LLC purchased a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,897 shares of the semiconductor company’s stock, valued at approximately $2,364,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Creative Planning boosted its holdings in shares of Lam Research by 2.5% in the third quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock valued at $38,664,000 after acquiring an additional 1,146 shares in the last quarter. Vest Financial LLC lifted its position in Lam Research by 68.7% in the third quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock valued at $29,372,000 after purchasing an additional 14,658 shares during the period. Benson Investment Management Company Inc. purchased a new stake in Lam Research in the 3rd quarter valued at approximately $5,182,000. Symmetry Investments LP acquired a new position in Lam Research during the 2nd quarter worth approximately $3,229,000. Finally, Vontobel Holding Ltd. raised its stake in shares of Lam Research by 38.4% during the 3rd quarter. Vontobel Holding Ltd. now owns 120,736 shares of the semiconductor company’s stock worth $98,530,000 after buying an additional 33,489 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Price Performance

NASDAQ:LRCX opened at $78.20 on Friday. Lam Research Co. has a 12-month low of $64.85 and a 12-month high of $113.00. The firm has a market cap of $100.62 billion, a price-to-earnings ratio of 25.27, a price-to-earnings-growth ratio of 1.22 and a beta of 1.48. The company’s 50-day moving average is $77.67 and its two-hundred day moving average is $88.52. 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 data 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 business 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 quarterly revenue was up 19.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.85 earnings per share. Research analysts expect that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 annualized dividend and a yield of 1.18%. Lam Research’s payout ratio is currently 29.74%.

Analyst Ratings Changes

LRCX has been the topic of a number of analyst reports. Morgan Stanley decreased their price target on Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. B. Riley reduced their price objective on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Mizuho decreased their price objective on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Finally, UBS Group dropped their target price on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and an average target price of $97.03.

Insider Buying and Selling

In other news, CAO Christina Correia sold 647 shares of the company’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 completion of the transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.29% of the stock is currently owned by company insiders.

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.