Axxcess Wealth Management LLC Grows Stake in Lam Research Co. (NASDAQ:LRCX)

Axxcess Wealth Management LLC raised its stake in Lam Research Co. (NASDAQ:LRCX) by 37.6% during the third quarter, HoldingsChannel reports. The fund owned 1,080 shares of the semiconductor company’s stock after buying an additional 295 shares during the period. Axxcess Wealth Management LLC’s holdings in Lam Research were worth $881,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Fortitude Family Office LLC increased its holdings in Lam Research by 16.7% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock worth $67,000 after buying an additional 9 shares in the last quarter. Thomasville National Bank increased its holdings in Lam Research by 1.5% in the 2nd quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock worth $865,000 after buying an additional 12 shares in the last quarter. Ignite Planners LLC increased its holdings in Lam Research by 2.8% in the 2nd quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock worth $484,000 after buying an additional 12 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its holdings in Lam Research by 3.7% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock worth $357,000 after buying an additional 12 shares in the last quarter. Finally, RFP Financial Group LLC increased its holdings in Lam Research by 52.2% in the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after buying an additional 12 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wells Fargo & Company reduced their price objective on Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. TD Cowen boosted their price target on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. Mizuho cut their price target on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Finally, BNP Paribas upgraded Lam Research to a “hold” rating in a research note on Thursday, October 24th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $97.03.

Lam Research Stock Down 0.6 %

NASDAQ LRCX opened at $75.70 on Wednesday. The stock’s 50 day moving average is $77.55 and its 200 day moving average is $88.44. 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 Co. has a 12 month low of $67.06 and a 12 month high of $113.00. The stock has a market cap of $97.40 billion, a PE ratio of 24.50, a P/E/G ratio of 1.24 and a beta of 1.48.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The business had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the previous year, the company posted $6.85 EPS. The company’s revenue was up 19.7% compared to the same quarter last year. Research analysts predict that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s payout ratio is 29.77%.

Insiders Place Their Bets

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research 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 sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.29% of the company’s stock.

About Lam Research

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.