Taylor Hoffman Wealth Management Increases Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Taylor Hoffman Wealth Management grew its position in Lam Research Co. (NASDAQ:LRCX) by 5,450.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,110 shares of the semiconductor company’s stock after purchasing an additional 1,090 shares during the period. Taylor Hoffman Wealth Management’s holdings in Lam Research were worth $257,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Unigestion Holding SA purchased a new position in shares of Lam Research in the 3rd quarter worth approximately $760,000. Daiwa Securities Group Inc. grew its holdings in shares of Lam Research by 0.3% in the third quarter. Daiwa Securities Group Inc. now owns 18,847 shares of the semiconductor company’s stock valued at $4,356,000 after acquiring an additional 63 shares in the last quarter. Symmetry Partners LLC increased its position in shares of Lam Research by 81.6% during the third quarter. Symmetry Partners LLC now owns 3,681 shares of the semiconductor company’s stock valued at $851,000 after acquiring an additional 1,654 shares during the last quarter. Keybank National Association OH increased its position in shares of Lam Research by 66.2% during the third quarter. Keybank National Association OH now owns 3,842 shares of the semiconductor company’s stock valued at $888,000 after acquiring an additional 1,530 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS lifted its holdings in Lam Research by 21.5% during the third quarter. Kornitzer Capital Management Inc. KS now owns 86,934 shares of the semiconductor company’s stock worth $20,091,000 after acquiring an additional 15,399 shares during the period. Institutional investors own 86.06% of the company’s stock.

NASDAQ LRCX opened at $262.94 on Tuesday. The company has a market cap of $38.71 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 1.29 and a beta of 1.64. The company has a quick ratio of 2.99, a current ratio of 3.59 and a debt-to-equity ratio of 0.76. The firm’s 50-day simple moving average is $264.46 and its two-hundred day simple moving average is $218.50. Lam Research Co. has a 52 week low of $122.64 and a 52 week high of $285.87.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $3.18 EPS for the quarter, beating the Zacks’ consensus estimate of $3.01 by $0.17. Lam Research had a net margin of 22.38% and a return on equity of 43.11%. The company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same period in the prior year, the company posted $3.36 EPS. Lam Research’s revenue was down 7.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Lam Research Co. will post 15.21 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $4.60 annualized dividend and a dividend yield of 1.75%. Lam Research’s dividend payout ratio is currently 31.62%.

In related news, SVP Scott Gerald Meikle sold 2,000 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $278.37, for a total transaction of $556,740.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Douglas R. Bettinger sold 18,693 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $279.03, for a total value of $5,215,907.79. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,202 shares of company stock worth $22,176,844. Company insiders own 0.43% of the company’s stock.

Several research firms have weighed in on LRCX. Citigroup boosted their price objective on Lam Research from $282.00 to $330.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. B. Riley lifted their target price on Lam Research from $240.00 to $280.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Wells Fargo & Co raised shares of Lam Research to a “market perform” rating and boosted their price target for the stock from $200.00 to $235.00 in a report on Thursday, September 19th. Susquehanna Bancshares raised their price objective on shares of Lam Research from $195.00 to $220.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Finally, Cowen lifted their price objective on shares of Lam Research from $235.00 to $290.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the company’s stock. Lam Research presently has an average rating of “Hold” and an average target price of $260.50.

Lam Research Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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