3,873 Lam Research Corporation $LRCX Shares Acquired by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC boosted its stake in shares of Lam Research Corporation (NASDAQ:LRCX) by 15.8% in the third quarter, HoldingsChannel reports. The firm owned 28,405 shares of the semiconductor company’s stock after purchasing an additional 3,873 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Lam Research were worth $9,331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in LRCX. State Street Corp boosted its holdings in shares of Lam Research by 2.6% during the second quarter. State Street Corp now owns 60,704,130 shares of the semiconductor company’s stock valued at $26,320,468,000 after acquiring an additional 1,545,830 shares during the period. Bank of America Corp DE increased its holdings in shares of Lam Research by 5.5% in the 2nd quarter. Bank of America Corp DE now owns 11,244,147 shares of the semiconductor company’s stock worth $4,872,426,000 after acquiring an additional 584,489 shares during the period. Van ECK Associates Corp increased its holdings in shares of Lam Research by 411.8% in the 2nd quarter. Van ECK Associates Corp now owns 11,089,395 shares of the semiconductor company’s stock worth $4,805,368,000 after acquiring an additional 8,922,854 shares during the period. Bank of New York Mellon Corp bought a new stake in Lam Research in the 2nd quarter valued at about $3,777,585,000. Finally, Amundi lifted its position in Lam Research by 23.7% in the 1st quarter. Amundi now owns 10,147,479 shares of the semiconductor company’s stock valued at $2,168,107,000 after purchasing an additional 1,942,862 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

Insider Activity at Lam Research

In related news, insider Ava Harter sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $302.46, for a total value of $1,512,300.00. Following the completion of the transaction, the insider owned 42,462 shares of the company’s stock, valued at approximately $12,843,056.52. This trade represents a 10.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bethany Mayer sold 9,557 shares of Lam Research stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $314.74, for a total transaction of $3,007,970.18. Following the transaction, the director owned 20,995 shares in the company, valued at approximately $6,607,966.30. The trade was a 31.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.31% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on LRCX shares. UBS Group reiterated a “buy” rating and set a $400.00 price objective (down from $425.00) on shares of Lam Research in a research report on Thursday, October 22nd. Fundamental Research set a $390.00 price target on Lam Research in a report on Thursday, October 1st. Citigroup restated a “buy” rating and set a $435.00 price objective (down from $450.00) on shares of Lam Research in a research note on Thursday, October 22nd. Evercore set a $315.00 price objective on shares of Lam Research in a report on Tuesday, October 20th. Finally, Zacks Research downgraded shares of Lam Research from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 22nd. Twenty-six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $360.23.

Lam Research Trading Down 4.0%

Shares of LRCX opened at $221.43 on Thursday. The business’s 50-day moving average price is $289.28 and its 200 day moving average price is $283.97. The company has a current ratio of 2.48, a quick ratio of 1.86 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $276.60 billion, a P/E ratio of 33.00, a P/E/G ratio of 0.85 and a beta of 1.97. Lam Research Corporation has a 1-year low of $135.50 and a 1-year high of $438.50.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, October 21st. The semiconductor company reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.18 by $0.02. Lam Research had a net margin of 32.34% and a return on equity of 72.15%. The company had revenue of $8.22 billion during the quarter, compared to analyst estimates of $8.14 billion. During the same period in the prior year, the firm earned $1.26 earnings per share. The business’s quarterly revenue was up 54.4% on a year-over-year basis. Analysts expect that Lam Research Corporation will post 9.59 earnings per share for the current year.

Lam Research Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 14th. Investors of record on Wednesday, September 23rd were given a $0.33 dividend. This is a boost from Lam Research’s previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, September 23rd. This represents a $1.32 annualized dividend and a dividend yield of 0.6%. Lam Research’s payout ratio is currently 19.67%.

Lam Research Company Profile

Lam Research Corporation (NASDAQ:LRCX) is a semiconductor equipment company that develops and manufactures systems used to fabricate integrated circuits. Its technologies support key stages of wafer processing, helping semiconductor manufacturers create the increasingly complex structures found in memory, logic and other types of chips.

The company’s product portfolio includes etch systems, which selectively remove materials from wafers; deposition systems, which apply thin films; and cleaning solutions used to remove contaminants and residue during manufacturing.