Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Bedell Frazier Investment Counselling LLC

Bedell Frazier Investment Counselling LLC grew its position in Lam Research Co. (NASDAQ:LRCX) by 10.1% during the third quarter, Holdings Channel reports. The firm owned 1,559 shares of the semiconductor company’s stock after acquiring an additional 143 shares during the period. Bedell Frazier Investment Counselling LLC’s holdings in Lam Research were worth $1,272,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of LRCX. Van ECK Associates Corp grew its holdings in Lam Research by 1,394.7% during the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after acquiring an additional 15,005,178 shares during the period. Fisher Asset Management LLC grew its holdings in Lam Research by 0.6% during the third quarter. Fisher Asset Management LLC now owns 1,871,473 shares of the semiconductor company’s stock worth $1,527,273,000 after acquiring an additional 11,093 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Lam Research by 7.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock worth $1,335,522,000 after acquiring an additional 89,470 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Lam Research by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 822,599 shares of the semiconductor company’s stock worth $671,307,000 after acquiring an additional 10,868 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Lam Research by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company’s stock worth $654,009,000 after acquiring an additional 25,362 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Lam Research

In related news, CAO Christina Correia sold 647 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This trade represents a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.29% of the company’s stock.

Lam Research Stock Performance

NASDAQ LRCX opened at $72.64 on Monday. The company has a market cap of $93.47 billion, a PE ratio of 23.48, a price-to-earnings-growth ratio of 1.15 and a beta of 1.48. The stock’s 50 day simple moving average is $76.93 and its 200-day simple moving average is $87.29. Lam Research Co. has a 1-year low of $68.72 and a 1-year high of $113.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74.

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

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.27%. Lam Research’s dividend payout ratio is presently 29.74%.

Wall Street Analyst Weigh In

Several research firms recently commented on LRCX. Wells Fargo & Company dropped their target price on Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lowered their price target on Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. BNP Paribas upgraded Lam Research to a “hold” rating in a research report on Thursday, October 24th. Finally, StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.97.

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.